OLD National Bancorp IN Sells 91,224 Shares of Copart, Inc. $CPRT

Key Points

• OLD National Bancorp IN sold 91,224 shares of Copart, Inc., reducing its stake by 13.0% to 609,368 shares, which now represent about 0.5% of its total holdings.
• Copart's recent earnings report showed $0.41 earnings per share, which exceeded analysts' expectations of $0.37.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Copart, with a target price of $54.50, reflecting mixed perceptions about the stock after recent price adjustments.

OLD National Bancorp IN lowered its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 13.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 609,368 shares of the business services provider's stock after selling 91,224 shares during the period. Copart accounts for about 0.5% of OLD National Bancorp IN's holdings, making the stock its 27th biggest position. OLD National Bancorp IN owned approximately 0.06% of Copart worth $29,902,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CPRT. Brighton Jones LLC boosted its holdings in Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock worth $816,000 after acquiring an additional 6,817 shares in the last quarter. Procyon Advisors LLC lifted its holdings in shares of Copart by 8.1% in the first quarter. Procyon Advisors LLC now owns 49,842 shares of the business services provider's stock valued at $2,821,000 after purchasing an additional 3,731 shares in the last quarter. KFG Wealth Management LLC lifted its holdings in shares of Copart by 6.4% in the first quarter. KFG Wealth Management LLC now owns 5,915 shares of the business services provider's stock valued at $335,000 after purchasing an additional 354 shares in the last quarter. Blue Zone Wealth Advisors LLC lifted its holdings in shares of Copart by 13.6% in the first quarter. Blue Zone Wealth Advisors LLC now owns 117,844 shares of the business services provider's stock valued at $6,669,000 after purchasing an additional 14,086 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Copart by 0.9% in the first quarter. UMB Bank n.a. now owns 307,050 shares of the business services provider's stock valued at $17,376,000 after purchasing an additional 2,884 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Stephens dropped their target price on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Friday, September 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Copart in a research report on Saturday, September 27th. Robert W. Baird decreased their price target on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. HSBC set a $62.00 price target on Copart and gave the company a "buy" rating in a research report on Thursday, September 4th. Finally, Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Copart presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.50.

Insider Buying and Selling

In other 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 directly owned 31,527 shares of the company's stock, valued at $1,463,798.61. The trade was a 43.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $10,879,053.60. The disclosure for this sale can be found here. Insiders own 9.68% of the company's stock.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $45.11 on Friday. Copart, Inc. has a 1 year low of $44.23 and a 1 year high of $64.38. The company has a market cap of $43.65 billion, a PE ratio of 28.19 and a beta of 1.03. The stock's 50-day moving average is $46.97 and its 200 day moving average is $51.62.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business earned $0.33 EPS. The business's revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.

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