Geneva Capital Management LLC Has $42.62 Million Holdings in Copart, Inc. $CPRT

Key Points

• Geneva Capital trimmed its Copart stake by 6.2%, selling 62,651 shares and holding 947,726 shares worth about $42.62 million at the end of Q3.
• Copart missed Q earnings (EPS $0.36 vs. $0.39 expected) and reported revenue of $1.12B (down 3.6% YoY), while the stock trades near its one‑year low (opened $36.31; 52‑week range $33.81–$63.85) with a market cap of about $35 billion.
• Institutional ownership is high at 85.78%; CEO Jeffrey Liaw sold 25,137 shares (a ~31% reduction in his holding), and analysts are mixed—consensus rating "Hold" with a $44.40 target and several recent downgrades.

Geneva Capital Management LLC decreased its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 6.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 947,726 shares of the business services provider's stock after selling 62,651 shares during the period. Geneva Capital Management LLC owned about 0.10% of Copart worth $42,619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Copart by 13.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider's stock valued at $16,711,000 after buying an additional 45,346 shares in the last quarter. California Public Employees Retirement System lifted its stake in Copart by 89.0% in the 2nd quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider's stock worth $125,044,000 after acquiring an additional 1,200,035 shares in the last quarter. Principal Financial Group Inc. boosted its position in Copart by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider's stock worth $1,806,674,000 after acquiring an additional 1,236,101 shares during the period. Yacktman Asset Management LP purchased a new position in Copart during the 3rd quarter valued at about $3,382,000. Finally, Comgest Global Investors S.A.S. increased its holdings in shares of Copart by 7.2% in the 3rd 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 period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

Copart stock opened at $36.31 on Wednesday. The company has a market capitalization of $34.98 billion, a price-to-earnings ratio of 22.69 and a beta of 1.09. Copart, Inc. has a one year low of $33.81 and a one year high of $63.85. The company's fifty day moving average price is $38.96 and its two-hundred day moving average price is $41.67.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.Copart's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the transaction, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 9.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on CPRT shares. Zacks Research cut shares of Copart from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 24th. 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. CJS Securities raised shares of Copart to a "strong-buy" rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. cut their price objective on Copart from $45.00 to $34.00 and set a "neutral" rating for the company in a report on Monday, February 23rd. Finally, Robert W. Baird set a $48.00 price objective on Copart and gave the company an "outperform" rating in a research report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $44.40.

About Copart

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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