42,558 Shares in Copart, Inc. $CPRT Bought by Versor Investments LP

Key Points

• Versor Investments LP made a new investment in Copart, purchasing approximately 42,558 shares valued at $2.41 million, making it the 29th largest holding in their portfolio.
• Copart reported quarterly earnings of $0.42 per share, meeting analysts' expectations, with revenue of $1.21 billion, showing a year-over-year increase of 7.5%.
• The stock is currently trading at about $47.08, with several analysts adjusting price targets, including a notable reduction from $64.00 to $55.00 by Robert W. Baird.

Versor Investments LP purchased a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 42,558 shares of the business services provider's stock, valued at approximately $2,408,000. Copart makes up approximately 0.4% of Versor Investments LP's holdings, making the stock its 29th biggest holding.

A number of other large investors have also modified their holdings of CPRT. Cloud Capital Management LLC purchased a new position in Copart in the 1st quarter worth approximately $26,000. Sunbelt Securities Inc. acquired a new position in shares of Copart in the 4th quarter worth approximately $31,000. Accent Capital Management LLC acquired a new position in Copart during the first quarter worth $36,000. Financial Network Wealth Advisors LLC boosted its holdings in Copart by 152.6% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock valued at $44,000 after acquiring an additional 473 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Copart in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Price Performance

Shares of Copart stock traded up $1.1350 during trading hours on Friday, hitting $48.8150. The company had a trading volume of 2,789,130 shares, compared to its average volume of 5,675,101. The company's 50-day moving average is $47.34 and its two-hundred day moving average is $53.59. The company has a market cap of $47.20 billion, a P/E ratio of 32.12 and a beta of 1.04. Copart, Inc. has a twelve month low of $45.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, meeting analysts' consensus estimates of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the company earned $0.39 earnings per share. Copart's quarterly revenue was up 7.5% compared to the same quarter last year. Sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 31,527 shares of the company's stock, valued at $1,463,798.61. This represents a 43.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.68% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CPRT shares. Robert W. Baird reduced their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. JPMorgan Chase & Co. reduced their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Finally, Stephens assumed coverage on shares of Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price target for the company. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $53.33.

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.