UniSuper Management Pty Ltd Buys 6,225 Shares of Copart, Inc. $CPRT

Key Points

• UniSuper Management Pty Ltd increased its stake in Copart, Inc. by 9.2%, owning 73,537 shares valued at approximately $4.16 million after acquiring an additional 6,225 shares in the first quarter.
• Copart recently reported $0.41 earnings per share for the quarter, exceeding analysts' estimates, with a revenue of $1.13 billion, showing a 2.9% year-over-year growth.
• Analysts have mixed ratings on Copart, with a consensus rating of "Moderate Buy" and an average price target of $54.50, reflecting differing opinions on the stock's future performance.

UniSuper Management Pty Ltd increased its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 9.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,537 shares of the business services provider's stock after purchasing an additional 6,225 shares during the period. UniSuper Management Pty Ltd's holdings in Copart were worth $4,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPRT. Nuveen LLC acquired a new position in shares of Copart during the first quarter worth about $267,723,000. Fiera Capital Corp boosted its position in Copart by 195.6% during the 1st quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider's stock worth $225,942,000 after acquiring an additional 2,642,100 shares during the last quarter. Amundi boosted its position in Copart by 32.5% during the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider's stock worth $531,256,000 after acquiring an additional 2,299,192 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Copart by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock worth $5,900,295,000 after acquiring an additional 2,134,890 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Copart by 15.9% in the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock valued at $868,417,000 after purchasing an additional 2,106,656 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Analysts Set New Price Targets

CPRT has been the subject of several recent research reports. Robert W. Baird reduced their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. Hsbc Global Res upgraded shares of Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. HSBC set a $62.00 target price on Copart and gave the company a "buy" rating in a research report on Thursday, September 4th. JPMorgan Chase & Co. reduced their price target on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Finally, Stephens lowered their price target on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.50.

Copart Stock Performance

NASDAQ:CPRT traded down $0.50 during mid-day trading on Friday, hitting $48.40. The stock had a trading volume of 3,944,793 shares, compared to its average volume of 6,601,746. Copart, Inc. has a twelve month low of $45.05 and a twelve month high of $64.38. The stock has a market cap of $46.80 billion, a price-to-earnings ratio of 30.25 and a beta of 1.03. The company's 50 day simple moving average is $47.39 and its 200 day simple moving average is $52.50.

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

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the sale, 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 SEC, which is accessible through the SEC website. Company 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.