UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 705,669 Shares of Copart, Inc. (NASDAQ:CPRT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 18.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,547,591 shares of the business services provider's stock after acquiring an additional 705,669 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.47% of Copart worth $260,986,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Copart by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider's stock valued at $5,861,185,000 after purchasing an additional 976,909 shares during the last quarter. Edgewood Management LLC lifted its position in shares of Copart by 14.1% in the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock valued at $1,346,548,000 after buying an additional 2,907,405 shares during the last quarter. Capital World Investors lifted its holdings in Copart by 0.8% during the 4th quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock valued at $1,225,502,000 after purchasing an additional 169,354 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Copart by 23.3% during the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock valued at $1,115,664,000 after purchasing an additional 3,667,534 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Copart by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider's stock valued at $1,097,153,000 after purchasing an additional 408,677 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

NASDAQ:CPRT traded down $6.99 during mid-day trading on Friday, hitting $53.67. 20,806,337 shares of the stock were exchanged, compared to its average volume of 4,519,197. The stock has a market capitalization of $51.85 billion, a price-to-earnings ratio of 36.02 and a beta of 1.20. The firm's 50-day simple moving average is $58.90 and its 200 day simple moving average is $58.26. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting analysts' consensus estimates of $0.42. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm earned $0.39 earnings per share. The company's revenue was up 7.5% on a year-over-year basis. On average, analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CPRT. Argus cut shares of Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. JPMorgan Chase & Co. cut their price objective on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday.

Insiders Place Their Bets

In related news, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven D. Cohan sold 5,003 shares of the business's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $60.01, for a total value of $300,230.03. The disclosure for this sale can be found here. Insiders sold 200,000 shares of company stock worth $11,401,000 in the last quarter. 9.68% of the stock is currently owned by corporate insiders.

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.