Cim LLC Has $23.21 Million Stock Holdings in Copart, Inc. $CPRT

Key Points

• Cim LLC increased its stake in Copart, Inc. by 24.1% during the first quarter, bringing its total holdings to over $23 million.
• Copart reported an earnings per share (EPS) of $0.41 for the recent quarter, exceeding analysts' expectations of $0.37, alongside a revenue of $1.13 billion.
• Wall Street analysts have mixed ratings on Copart, with a consensus price target of $54.50, reflecting a range of "strong buy" to "hold" recommendations.

Cim LLC raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 24.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 410,060 shares of the business services provider's stock after acquiring an additional 79,744 shares during the quarter. Copart makes up approximately 3.4% of Cim LLC's holdings, making the stock its 6th biggest position. Cim LLC's holdings in Copart were worth $23,205,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CPRT. Nuveen LLC bought a new position in shares of Copart during the 1st quarter worth approximately $267,723,000. Fiera Capital Corp grew its stake in shares of Copart by 195.6% during the 1st quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider's stock worth $225,942,000 after acquiring an additional 2,642,100 shares in the last quarter. Amundi grew its stake in shares of Copart by 32.5% during the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider's stock worth $531,256,000 after acquiring an additional 2,299,192 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Copart by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock worth $5,900,295,000 after acquiring an additional 2,134,890 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Copart by 15.9% during the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock worth $868,417,000 after acquiring an additional 2,106,656 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

CPRT stock opened at $48.90 on Friday. The company has a fifty day moving average price of $47.41 and a two-hundred day moving average price of $52.56. Copart, Inc. has a one year low of $45.05 and a one year high of $64.38. The stock has a market cap of $47.28 billion, a price-to-earnings ratio of 30.56 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The firm had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the previous year, the business posted $0.33 earnings per share. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the transaction, the chief executive officer directly owned 31,527 shares of the company's stock, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Stephens decreased their target price on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Friday, September 5th. JPMorgan Chase & Co. decreased their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. HSBC set a $62.00 target price on shares of Copart and gave the company a "buy" rating in a research note on Thursday, September 4th. Robert W. Baird decreased their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. Finally, Hsbc Global Res raised shares of Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $54.50.

Copart Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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