Bank Julius Baer & Co. Ltd Zurich Reduces Holdings in Copart, Inc. (NASDAQ:CPRT)

Bank Julius Baer & Co. Ltd Zurich lessened its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 5.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 356,061 shares of the business services provider's stock after selling 19,437 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Copart were worth $21,678,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CPRT. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Copart by 3.7% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 819,300 shares of the business services provider's stock worth $46,364,000 after acquiring an additional 29,397 shares during the period. Crestwood Advisors Group LLC increased its stake in Copart by 6.2% during the first quarter. Crestwood Advisors Group LLC now owns 19,656 shares of the business services provider's stock worth $1,112,000 after acquiring an additional 1,143 shares during the last quarter. Wealth Alliance LLC increased its stake in Copart by 8.5% during the first quarter. Wealth Alliance LLC now owns 5,507 shares of the business services provider's stock worth $312,000 after acquiring an additional 430 shares during the last quarter. Bingham Private Wealth LLC grew its stake in shares of Copart by 16.7% during the first quarter. Bingham Private Wealth LLC now owns 5,516 shares of the business services provider's stock valued at $312,000 after buying an additional 788 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in Copart by 15.6% in the first quarter. Lindbrook Capital LLC now owns 6,942 shares of the business services provider's stock worth $393,000 after purchasing an additional 935 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CPRT shares. JPMorgan Chase & Co. decreased their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Robert W. Baird dropped their target price on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Finally, Stephens began coverage on shares of Copart in a research note on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price target on the stock.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the sale, the chief executive officer directly owned 31,527 shares in the company, valued at $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.68% of the stock is owned by corporate insiders.

Copart Trading Up 0.6%

Shares of CPRT stock traded up $0.29 on Friday, reaching $46.56. 2,530,854 shares of the stock were exchanged, compared to its average volume of 5,693,579. The business's 50 day moving average price is $50.23 and its 200 day moving average price is $55.02. The company has a market capitalization of $45.02 billion, a price-to-earnings ratio of 30.63 and a beta of 1.07. Copart, Inc. has a twelve month low of $45.52 and a twelve month high of $64.38.

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

Copart 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.