Praxis Investment Management Inc. Lowers Holdings in Copart, Inc. $CPRT

Key Points

• Praxis Investment Management Inc. reduced its holdings in Copart, Inc. by 33.9%, owning 20,652 shares after selling 10,580 shares during the 2nd quarter.
• Several institutional investors increased their positions in Copart, including China Universal Asset Management, which raised its stake by 52.2% in the same period.
• Copart's stock has a market cap of $42.91 billion, with a recent EPS of $0.41, exceeding expectations, and a consensus price target of $54.50 among analysts.

Praxis Investment Management Inc. cut its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 33.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,652 shares of the business services provider's stock after selling 10,580 shares during the quarter. Praxis Investment Management Inc.'s holdings in Copart were worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. GC Wealth Management RIA LLC purchased a new stake in Copart in the 2nd quarter worth approximately $219,000. Sowell Financial Services LLC bought a new position in shares of Copart in the 1st quarter worth $604,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Copart by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider's stock worth $1,350,000 after buying an additional 8,181 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Copart by 16.5% in the 1st quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider's stock worth $234,000 after buying an additional 586 shares during the last quarter. Finally, 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 buying an additional 2,106,656 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Copart

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the sale, the chief executive officer directly owned 31,332 shares of the company's stock, valued at $1,403,360.28. The trade was a 43.66% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company's stock.

Copart Stock Performance

CPRT stock opened at $44.34 on Friday. Copart, Inc. has a 52 week low of $43.32 and a 52 week high of $64.38. The firm's fifty day moving average is $46.61 and its 200 day moving average is $50.89. The firm has a market cap of $42.91 billion, a P/E ratio of 27.71 and a beta of 1.03.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Hsbc Global Res raised shares of Copart from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 4th. Stephens decreased their price target on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Friday, September 5th. Robert W. Baird decreased their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. HSBC set a $62.00 price target on shares of Copart and gave the stock a "buy" rating in a report on Thursday, September 4th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Copart in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Copart presently has an average rating of "Moderate Buy" and a consensus price target of $54.50.

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.

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.