Copart, Inc. $CPRT Shares Bought by UMB Bank n.a.

Key Points

• UMB Bank n.a. increased its stake in Copart, Inc. by 21.7%, owning 373,629 shares valued at $18.33 million after acquiring 66,579 shares in the second quarter.
• Copart reported earnings of $0.41 per share for the last quarter, exceeding analyst expectations, and its revenue increased by 2.9% year-over-year.
• Several analysts have adjusted their price targets for Copart, with a consensus rating of "Moderate Buy" and an average price target set at $54.50.

UMB Bank n.a. increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 21.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 373,629 shares of the business services provider's stock after buying an additional 66,579 shares during the quarter. UMB Bank n.a.'s holdings in Copart were worth $18,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. 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 valued at $816,000 after purchasing an additional 6,817 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of Copart in the fourth quarter worth about $3,021,000. Waverly Advisors LLC purchased a new stake in shares of Copart in the fourth quarter worth about $493,000. Continuum Advisory LLC boosted its stake in shares of Copart by 26.2% in the fourth quarter. Continuum Advisory LLC now owns 1,214 shares of the business services provider's stock worth $70,000 after buying an additional 252 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC boosted its stake in shares of Copart by 163.9% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 15,593 shares of the business services provider's stock worth $895,000 after buying an additional 9,685 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Performance

Shares of Copart stock traded down $0.31 during trading hours on Tuesday, reaching $45.07. 5,603,996 shares of the company were exchanged, compared to its average volume of 5,966,802. The stock's fifty day moving average is $47.19 and its 200 day moving average is $52.12. Copart, Inc. has a 1 year low of $44.96 and a 1 year high of $64.38. The firm has a market cap of $43.58 billion, a PE ratio of 28.13 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the firm earned $0.33 earnings per share. The business's quarterly revenue was up 2.9% compared to the same quarter last year. Research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the firm's 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 sale, the chief executive officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas N. Tryforos sold 228,840 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. 9.68% of the stock is owned by corporate insiders.

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.