Swiss National Bank Grows Position in Copart, Inc. $CPRT

Swiss National Bank boosted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 13.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,778,200 shares of the business services provider’s stock after purchasing an additional 332,400 shares during the period. Swiss National Bank’s holdings in Copart were worth $136,326,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after buying an additional 6,817 shares during the period. AE Wealth Management LLC lifted its stake in shares of Copart by 40.1% during the 1st quarter. AE Wealth Management LLC now owns 23,463 shares of the business services provider’s stock worth $1,328,000 after acquiring an additional 6,718 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Copart by 8.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 18,202 shares of the business services provider’s stock worth $1,030,000 after acquiring an additional 1,416 shares during the last quarter. Assetmark Inc. boosted its holdings in Copart by 8.7% during the 1st quarter. Assetmark Inc. now owns 468,559 shares of the business services provider’s stock valued at $26,516,000 after acquiring an additional 37,670 shares during the period. Finally, Neo Ivy Capital Management bought a new position in Copart in the 1st quarter valued at $559,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Performance

NASDAQ CPRT opened at $40.73 on Friday. Copart, Inc. has a one year low of $39.38 and a one year high of $64.38. The company has a market capitalization of $39.42 billion, a price-to-earnings ratio of 25.46 and a beta of 1.06. The company’s 50-day simple moving average is $43.75 and its two-hundred day simple moving average is $47.87.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 EPS. Equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 24,283 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the sale, the chief executive officer owned 31,332 shares of the company’s stock, valued at $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The sale 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 business’s stock in a transaction dated 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 is available in the SEC filing. Company insiders own 9.60% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the subject of several research analyst reports. Barclays reiterated an “underweight” rating and set a $33.00 target price (up from $32.00) on shares of Copart in a research report on Friday. HSBC set a $62.00 price target on shares of Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Stephens dropped 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, Robert W. Baird decreased their price target on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $49.60.

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.