Swiss National Bank raised its position in Copart, Inc. (NASDAQ:CPRT) by 24.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 812,005 shares of the business services provider’s stock after acquiring an additional 161,900 shares during the period. Swiss National Bank owned about 0.35% of Copart worth $55,639,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRT. Norges Bank acquired a new position in shares of Copart during the 4th quarter worth approximately $271,008,000. Madison Asset Management LLC acquired a new position in shares of Copart during the 4th quarter worth approximately $122,327,000. Massachusetts Financial Services Co. MA increased its position in shares of Copart by 46.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,524,694 shares of the business services provider’s stock worth $320,535,000 after purchasing an additional 1,113,023 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Copart by 1,916.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 816,942 shares of the business services provider’s stock worth $74,293,000 after purchasing an additional 776,427 shares during the last quarter. Finally, Manning & Napier Group LLC acquired a new position in shares of Copart during the 1st quarter worth approximately $43,211,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Several research analysts have weighed in on the company. Barrington Research assumed coverage on Copart in a research report on Friday. They set a “hold” rating on the stock. BidaskClub raised Copart from a “buy” rating to a “strong-buy” rating in a report on Friday, May 8th. JPMorgan Chase & Co. raised Copart from an “underweight” rating to a “neutral” rating and set a $65.00 target price on the stock in a report on Thursday, April 23rd. Stephens decreased their target price on Copart from $95.00 to $73.00 and set an “equal weight” rating on the stock in a report on Thursday, April 16th. Finally, Cfra decreased their target price on Copart from $90.00 to $85.00 and set a “hold” rating on the stock in a report on Thursday. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $83.89.
Shares of NASDAQ CPRT opened at $86.25 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.13 and a quick ratio of 2.08. The stock’s fifty day moving average price is $75.19 and its two-hundred day moving average price is $85.34. Copart, Inc. has a one year low of $55.69 and a one year high of $104.88. The firm has a market cap of $20.19 billion, a price-to-earnings ratio of 34.84 and a beta of 1.11.
Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, May 20th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.06). Copart had a net margin of 30.95% and a return on equity of 30.34%. The firm had revenue of $550.36 million during the quarter, compared to analyst estimates of $547.05 million. During the same period in the prior year, the company earned $0.66 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Copart, Inc. will post 2.35 earnings per share for the current fiscal year.
In other news, Director Daniel J. Englander sold 70,428 shares of the company’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $60.05, for a total transaction of $4,229,201.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Willis J. Johnson sold 462,722 shares of the company’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $71.44, for a total value of $33,056,859.68. The disclosure for this sale can be found here. Corporate insiders own 14.34% of the company’s stock.
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.
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