JLB & Associates Inc. Has $19.44 Million Stock Holdings in Copart, Inc. $CPRT

Key Points

• JLB & Associates Inc. reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 5.1% to $19.44 million, making it the firm's 13th largest position.
• Copart recently received mixed analyst ratings, with one upgrade to "strong-buy" and a consensus target price of $54.50.
• Insider transactions included the sale of 228,840 shares by Director Thomas N. Tryforos for approximately $10.88 million, indicating significant insider activity.

JLB & Associates Inc. trimmed its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 396,145 shares of the business services provider's stock after selling 21,307 shares during the quarter. Copart comprises approximately 2.7% of JLB & Associates Inc.'s investment portfolio, making the stock its 13th biggest position. JLB & Associates Inc.'s holdings in Copart were worth $19,439,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Cloud Capital Management LLC acquired a new stake in shares of Copart during the 1st quarter worth about $26,000. Atticus Wealth Management LLC bought a new position in Copart in the 2nd quarter valued at about $31,000. Accent Capital Management LLC acquired a new stake in Copart during the first quarter worth approximately $36,000. Financial Network Wealth Advisors LLC boosted its holdings in shares of 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 acquiring an additional 473 shares during the period. Finally, SouthState Corp bought a new stake in shares of Copart during the first quarter worth approximately $45,000. 85.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

CPRT has been the topic of a number of recent research reports. Hsbc Global Res upgraded Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Stephens lowered their price objective on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Friday, September 5th. Robert W. Baird dropped their target price on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. Finally, HSBC set a $62.00 target price on shares of Copart and gave the company a "buy" rating in a research report 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.50.

Insider Transactions at Copart

In other news, Director Thomas N. Tryforos sold 228,840 shares of the company's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction that occurred 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 in the company, valued at $1,463,798.61. This trade represents a 43.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company's stock.

Copart Price Performance

Copart stock opened at $44.60 on Tuesday. The firm has a market cap of $43.13 billion, a PE ratio of 27.88 and a beta of 1.03. The stock's fifty day moving average price is $47.09 and its two-hundred day moving average price is $51.85. Copart, Inc. has a one year low of $44.47 and a one year high of $64.38.

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

Copart Company 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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