Copart, Inc. $CPRT Shares Purchased by Czech National Bank

Key Points

• The Czech National Bank increased its holdings in Copart, Inc. by 6.7% in the 2nd quarter, bringing its total shares to 214,894, valued at approximately $10.5 million.
• Copart reported a quarterly earnings per share of $0.41, beating analysts' expectations of $0.37, with revenues of $1.13 billion, which reflects a 2.9% year-over-year increase.
• Most analysts maintain a Moderate Buy consensus rating for Copart, with an average target price of $54.50, despite some firms lowering their price objectives recently.

Czech National Bank grew its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,894 shares of the business services provider's stock after purchasing an additional 13,505 shares during the period. Czech National Bank's holdings in Copart were worth $10,545,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CPRT. Cloud Capital Management LLC acquired a new position in Copart during the first quarter worth $26,000. Sunbelt Securities Inc. acquired a new position in Copart during the fourth quarter worth $31,000. Accent Capital Management LLC acquired a new position in Copart during the first quarter worth $36,000. Financial Network Wealth Advisors LLC lifted its stake in Copart by 152.6% during the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock worth $44,000 after purchasing an additional 473 shares in the last quarter. Finally, SouthState Corp acquired a new stake in shares of Copart in the first quarter valued at $45,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Up 0.9%

CPRT traded up $0.39 during trading on Friday, hitting $45.85. 20,163,202 shares of the stock were exchanged, compared to its average volume of 7,097,659. The firm has a market capitalization of $44.33 billion, a P/E ratio of 28.66 and a beta of 1.03. Copart, Inc. has a 1-year low of $45.05 and a 1-year high of $64.38. The stock has a fifty day moving average price of $47.22 and a two-hundred day moving average price of $52.19.

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

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the sale, the chief executive officer owned 31,527 shares of the company's stock, valued at $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on CPRT shares. Stephens reduced their price objective on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Friday, September 5th. HSBC set a $62.00 price objective on Copart and gave the company a "buy" rating in a research note on Thursday, September 4th. Hsbc Global Res upgraded Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Finally, Robert W. Baird reduced their price objective on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on data from 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.