Capital World Investors Has $1.09 Billion Position in Copart, Inc. $CPRT

Key Points

• Capital World Investors boosted its Copart stake by 25.1% in the fourth quarter, holding 27.7 million shares worth about $1.09 billion. The position now represents 2.86% of Copart.
• Copart reported better-than-expected quarterly results, with EPS of $0.43 versus the $0.41 consensus and revenue of $1.24 billion versus $1.19 billion expected. Revenue rose 2.1% year over year, and the company posted a strong net margin of 33.48%.
• Analyst sentiment remains mixed, with an average “Hold” rating and a $44.50 average price target. Meanwhile, CEO Jeffrey Liaw sold 26,213 shares in April, reducing his ownership by 24.79%.

Capital World Investors increased its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 25.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,728,398 shares of the business services provider's stock after buying an additional 5,555,101 shares during the quarter. Capital World Investors owned 2.86% of Copart worth $1,085,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in Copart by 4.1% in the fourth quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider's stock valued at $31,353,000 after purchasing an additional 31,658 shares during the last quarter. Comgest Global Investors S.A.S. lifted its position in Copart by 7.2% in the third quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider's stock valued at $143,091,000 after purchasing an additional 212,520 shares during the last quarter. Davidson Kahn Capital Management LLC lifted its position in Copart by 56.3% in the fourth quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider's stock valued at $3,921,000 after purchasing an additional 36,091 shares during the last quarter. Gotham Asset Management LLC lifted its position in Copart by 193.6% in the third quarter. Gotham Asset Management LLC now owns 944,876 shares of the business services provider's stock valued at $42,491,000 after purchasing an additional 623,012 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its stake in shares of Copart by 21.0% during the third quarter. Integrated Wealth Concepts LLC now owns 249,396 shares of the business services provider's stock valued at $11,215,000 after buying an additional 43,292 shares during the period. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Stock Performance

Copart stock opened at $30.96 on Monday. The business's fifty day simple moving average is $33.03 and its two-hundred day simple moving average is $36.52. Copart, Inc. has a 12 month low of $29.97 and a 12 month high of $50.92. The company has a market capitalization of $28.66 billion, a price-to-earnings ratio of 19.23 and a beta of 1.01.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. On average, equities research analysts predict that Copart, Inc. will post 1.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Zacks Research raised Copart from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Barclays reissued an "underweight" rating and set a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. JPMorgan Chase & Co. reduced their target price on Copart from $45.00 to $34.00 and set a "neutral" rating on the stock in a research note on Monday, February 23rd. Weiss Ratings cut Copart from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 1st. Finally, Robert W. Baird set a $48.00 target price on Copart and gave the company an "outperform" rating in a research note on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $44.50.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares of the company's stock, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.60% of the company's stock.

Copart Profile

Copart NASDAQ: CPRT is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart's business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.

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