National Bank of Canada FI Increases Position in Copart, Inc. (NASDAQ:CPRT)

Key Points

• National Bank of Canada FI has increased its stake in Copart, Inc. by 66.5%, owning approximately $46.37 million worth of shares after acquiring an additional 327,205 shares in the 1st quarter.
• CEO Jeffrey Liaw sold 24,088 shares of Copart stock on July 15th, reducing his ownership by 43.31%, bringing his remaining shares to 31,527.
• Copart's stock has a market cap of $44.66 billion, and it reported a 7.5% year-over-year revenue increase, despite quarterly revenue slightly missing analysts' estimates.

National Bank of Canada FI raised its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 66.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 819,392 shares of the business services provider's stock after buying an additional 327,205 shares during the period. National Bank of Canada FI owned about 0.08% of Copart worth $46,369,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in Copart in the 1st quarter worth about $26,000. Sunbelt Securities Inc. acquired a new position in shares of Copart during the 4th quarter worth approximately $31,000. Accent Capital Management LLC acquired a new position in shares of Copart during the 1st quarter worth approximately $36,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Copart during the 4th quarter worth approximately $45,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Copart by 1,567.9% during the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock worth $50,000 after purchasing an additional 831 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CPRT has been the topic of several recent research reports. Robert W. Baird lowered their target price on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. JPMorgan Chase & Co. lowered their target price on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Finally, Stephens initiated coverage on Copart in a report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 target price on the stock.

Copart Price Performance

CPRT traded down $0.40 during trading hours on Thursday, reaching $47.26. The company's stock had a trading volume of 1,729,037 shares, compared to its average volume of 5,668,375. Copart, Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $64.38. The stock has a market cap of $45.69 billion, a PE ratio of 31.09 and a beta of 1.04. The business's 50-day moving average is $47.67 and its 200-day moving average is $54.02.

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

Insider Transactions at Copart

In other Copart 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 value of $1,118,405.84. Following the sale, the chief executive officer owned 31,527 shares of the company's stock, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.68% of the stock is currently owned by insiders.

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.