Glenmede Trust Co. NA Grows Stock Holdings in Copart, Inc. $CPRT

Key Points

• Glenmede Trust more than doubled its Copart position in the first quarter, adding 227,870 shares to own 436,043 shares valued at $14.5 million. Institutional investors collectively hold 85.78% of Copart’s stock.
• Copart beat quarterly expectations, reporting $0.43 in EPS versus the $0.41 consensus and $1.24 billion in revenue, up 2.1% year over year. The company posted a 33.48% net margin and analysts forecast $1.58 in full-year EPS.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $43.50, while price targets range from $26 to $45. CEO Jeffrey Liaw also sold 27,745 shares for approximately $846,000, reducing his ownership by 21.78%.

Glenmede Trust Co. NA grew its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 109.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 436,043 shares of the business services provider's stock after purchasing an additional 227,870 shares during the period. Glenmede Trust Co. NA's holdings in Copart were worth $14,477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in shares of Copart by 14.0% during the first quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider's stock worth $11,076,000 after acquiring an additional 41,060 shares in the last quarter. ABN Amro Investment Solutions lifted its holdings in shares of Copart by 82.5% in the 4th quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider's stock worth $7,822,000 after acquiring an additional 90,339 shares during the last quarter. Davidson Kahn Capital Management LLC boosted its stake in shares of Copart by 56.3% in the 4th 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 in the last quarter. Assetmark Inc. boosted its stake in shares of Copart by 7.3% in the 4th quarter. Assetmark Inc. now owns 507,255 shares of the business services provider's stock valued at $19,859,000 after purchasing an additional 34,410 shares in the last quarter. Finally, Inlet Private Wealth LLC bought a new position in shares of Copart during the 4th quarter valued at $2,637,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Performance

Shares of Copart stock opened at $29.12 on Monday. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $50.11. The company's 50 day moving average price is $29.82 and its 200-day moving average price is $33.72. The stock has a market capitalization of $26.96 billion, a price-to-earnings ratio of 18.09 and a beta of 1.02.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Freedom Capital upgraded shares of Copart to a "strong-buy" rating in a research report on Friday, June 26th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Copart in a research note on Wednesday. Barclays set a $26.00 price objective on Copart and gave the stock an "underweight" rating in a report on Tuesday, July 21st. Finally, Zacks Research lowered Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $43.50.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. The trade was a 21.78% 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. 9.60% of the stock is currently owned by company insiders.

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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