abrdn plc Buys 159,844 Shares of Copart, Inc. (NASDAQ:CPRT)

abrdn plc grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 62.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 417,306 shares of the business services provider’s stock after buying an additional 159,844 shares during the period. abrdn plc’s holdings in Copart were worth $20,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CPRT. OFI Invest Asset Management bought a new stake in shares of Copart during the third quarter valued at approximately $25,000. Manchester Capital Management LLC raised its position in shares of Copart by 101.0% during the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock valued at $27,000 after buying an additional 314 shares during the last quarter. Bell Investment Advisors Inc raised its position in shares of Copart by 87.1% during the third quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock valued at $30,000 after buying an additional 323 shares during the last quarter. Annapolis Financial Services LLC raised its position in shares of Copart by 100.0% during the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock valued at $31,000 after buying an additional 360 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Copart by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the business services provider’s stock valued at $34,000 after buying an additional 400 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CPRT. JPMorgan Chase & Co. boosted their price target on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Copart presently has an average rating of “Hold” and a consensus price target of $51.00.

Insider Buying and Selling at Copart

In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the transaction, the director now owns 35,000 shares in the company, valued at $1,934,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas N. Tryforos sold 285,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $1,934,450. The disclosure for this sale can be found here. Insiders have sold 985,000 shares of company stock worth $55,519,950 over the last quarter. Insiders own 10.23% of the company’s stock.

Copart Stock Performance

Shares of CPRT opened at $54.31 on Wednesday. The company’s fifty day moving average is $54.50 and its 200 day moving average is $50.28. Copart, Inc. has a fifty-two week low of $38.35 and a fifty-two week high of $58.58. The stock has a market capitalization of $52.22 billion, a PE ratio of 39.07 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm earned $0.31 EPS. The company’s revenue was up 6.6% on a year-over-year basis. As a group, research analysts forecast that Copart, Inc. will post 1.42 earnings per share for the current year.

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.