UBS Asset Management Americas Inc. grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 817,326 shares of the business services provider’s stock after purchasing an additional 14,157 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.35% of Copart worth $104,005,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Brasada Capital Management LP increased its holdings in Copart by 0.5% during the third quarter. Brasada Capital Management LP now owns 67,611 shares of the business services provider’s stock valued at $7,110,000 after buying an additional 337 shares during the period. Cetera Advisor Networks LLC increased its holdings in shares of Copart by 4.8% in the 3rd quarter. Cetera Advisor Networks LLC now owns 2,866 shares of the business services provider’s stock valued at $301,000 after acquiring an additional 130 shares during the period. Wealth Alliance bought a new position in shares of Copart in the 3rd quarter worth $233,000. Truist Financial Corp lifted its stake in shares of Copart by 6.3% during the 3rd quarter. Truist Financial Corp now owns 47,050 shares of the business services provider’s stock worth $4,947,000 after purchasing an additional 2,778 shares during the last quarter. Finally, Morgan Stanley boosted its position in Copart by 65.5% during the third quarter. Morgan Stanley now owns 753,600 shares of the business services provider’s stock valued at $79,248,000 after purchasing an additional 298,282 shares in the last quarter. 79.35% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on CPRT. Northcoast Research raised shares of Copart from a “neutral” rating to a “buy” rating in a research report on Friday, February 5th. Barrington Research reissued a “hold” rating on shares of Copart in a research report on Monday, February 22nd. Zacks Investment Research lowered shares of Copart from a “buy” rating to a “hold” rating and set a $116.00 price target on the stock. in a report on Tuesday, February 2nd. Finally, Stephens raised Copart from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $122.00 to $140.00 in a research report on Friday, February 12th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $108.00.
Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Wednesday, February 17th. The business services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Copart had a return on equity of 26.79% and a net margin of 30.39%. The business had revenue of $617.03 million for the quarter, compared to analyst estimates of $630.64 million. Research analysts expect that Copart, Inc. will post 3.1 earnings per share for the current year.
In other news, Chairman Willis J. Johnson sold 234,012 shares of the stock in a transaction on Tuesday, March 23rd. The shares were sold at an average price of $108.10, for a total value of $25,296,697.20. Following the sale, the chairman now owns 1,261,288 shares in the company, valued at $136,345,232.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Meeks sold 2,139 shares of the firm’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $110.20, for a total transaction of $235,717.80. Following the transaction, the director now directly owns 2,139 shares of the company’s stock, valued at approximately $235,717.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 314,012 shares of company stock worth $34,139,949. 12.61% of the stock is owned by corporate insiders.
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.
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