Quantum Capital Management LLC NJ Purchases 173,747 Shares of Copart, Inc. $CPRT

Key Points

• Quantum Capital Management LLC NJ has increased its holdings in Copart, Inc. by 12.8%, now owning 1,529,773 shares, making it the firm's 3rd largest holding.
• Several institutional investors also raised their stakes in Copart, with Brighton Jones LLC increasing its stake by 92.1% last quarter.
• Research analysts have recently reduced their price targets on Copart, with JPMorgan dropping its target from $60.00 to $55.00, indicating a "neutral" rating on the stock.

Quantum Capital Management LLC NJ increased its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 12.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,529,773 shares of the business services provider's stock after acquiring an additional 173,747 shares during the quarter. Copart accounts for approximately 9.0% of Quantum Capital Management LLC NJ's portfolio, making the stock its 3rd largest position. Quantum Capital Management LLC NJ owned approximately 0.16% of Copart worth $86,570,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Nuveen LLC bought a new stake in shares of Copart during the 1st quarter worth $267,723,000. Fiera Capital Corp raised 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 purchasing an additional 2,642,100 shares during the period. Vanguard Group Inc. raised 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 purchasing an additional 2,134,890 shares during the period. JPMorgan Chase & Co. raised 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 purchasing an additional 2,106,656 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Copart by 63.9% during the 1st quarter. American Century Companies Inc. now owns 3,832,465 shares of the business services provider's stock worth $216,879,000 after purchasing an additional 1,494,457 shares during the period. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the transaction, the chief executive officer owned 31,527 shares of the company's stock, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CPRT shares. Stephens initiated coverage on Copart in a research report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price target on the stock. Robert W. Baird cut their target price on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. dropped their price target on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $53.33.

Copart Stock Performance

Shares of NASDAQ CPRT traded up $1.28 during midday trading on Friday, hitting $48.96. 6,224,584 shares of the stock traded hands, compared to its average volume of 5,532,967. The firm has a 50-day moving average of $47.34 and a two-hundred day moving average of $53.53. The firm has a market capitalization of $47.34 billion, a P/E ratio of 32.21 and a beta of 1.04. Copart, Inc. has a one year low of $45.05 and a one year high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, meeting analysts' consensus estimates of $0.42. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%.The business's quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. Equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

About Copart

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.