Copart, Inc. $CPRT Shares Bought by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Copart, Inc. by 12.3%, acquiring an additional 7,187 shares to hold a total of 65,683 shares valued at approximately $3.7 million.
• Several major institutional investors, including Vanguard Group and JPMorgan Chase, also expanded their positions in Copart during the first quarter, showcasing strong interest in the company's stock.
• Recent analyst ratings have lowered target prices for Copart, with Robert W. Baird cutting its target from $64 to $55, and JPMorgan adjusting theirs from $60 to $55, indicating a more cautious outlook.

OMERS ADMINISTRATION Corp increased its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,683 shares of the business services provider's stock after buying an additional 7,187 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Copart were worth $3,717,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Copart by 2.1% in the first quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock valued at $5,900,295,000 after buying an additional 2,134,890 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Copart by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock worth $2,230,177,000 after acquiring an additional 1,249,687 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Copart by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock worth $868,417,000 after acquiring an additional 2,106,656 shares during the period. Invesco Ltd. lifted its position in Copart by 7.5% in the 1st quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider's stock valued at $537,052,000 after purchasing an additional 658,329 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Copart by 0.7% during the 1st quarter. Northern Trust Corp now owns 8,927,156 shares of the business services provider's stock valued at $505,188,000 after purchasing an additional 61,855 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Price Performance

Shares of NASDAQ CPRT traded up $0.06 during mid-day trading on Monday, reaching $48.81. 5,330,175 shares of the company traded hands, compared to its average volume of 5,537,744. Copart, Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $64.38. The firm has a market cap of $47.20 billion, a PE ratio of 32.11 and a beta of 1.03. The stock has a fifty day simple moving average of $47.41 and a 200-day simple moving average of $53.09.

Analyst Ratings Changes

Several research firms have commented on CPRT. Robert W. Baird decreased their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. Stephens began coverage on Copart in a report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $53.33.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.68% of the company's stock.

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.