DekaBank Deutsche Girozentrale Purchases 64,364 Shares of Copart, Inc. $CPRT

Key Points

• DekaBank Deutsche Girozentrale increased its holdings in Copart, Inc. by 18.6%, acquiring an additional 64,364 shares to reach a total of 411,055 shares valued at $20,062,000.
• Several institutional investors have also significantly increased their stakes, with Nuveen LLC purchasing a stake of $267,723,000 in Copart and Fiera Capital Corp raising its shareholdings by 195.6%.
• The company recently reported earnings of $0.41 per share, above analyst projections of $0.37, with a quarterly revenue of $1.13 billion, reflecting a 2.9% year-over-year increase.

DekaBank Deutsche Girozentrale grew its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 18.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 411,055 shares of the business services provider's stock after buying an additional 64,364 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Copart were worth $20,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in shares of Copart in the 1st quarter worth $267,723,000. Fiera Capital Corp increased its stake in shares of Copart by 195.6% in the 1st quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider's stock worth $225,942,000 after purchasing an additional 2,642,100 shares in the last quarter. PineStone Asset Management Inc. increased its stake in shares of Copart by 56.4% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider's stock worth $314,415,000 after purchasing an additional 2,310,067 shares in the last quarter. Amundi increased its stake in shares of Copart by 32.5% in the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider's stock worth $531,256,000 after purchasing an additional 2,299,192 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Copart by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock worth $5,900,295,000 after purchasing an additional 2,134,890 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings restated a "hold (c)" rating on shares of Copart in a research note on Wednesday, October 8th. Hsbc Global Res upgraded Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. HSBC set a $62.00 price target on Copart and gave the stock a "buy" rating in a research note on Thursday, September 4th. Stephens cut their price target on Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Friday, September 5th. Finally, Robert W. Baird cut their price target on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $54.50.

Copart Stock Performance

Shares of CPRT stock opened at $44.93 on Thursday. The firm has a market capitalization of $43.48 billion, a PE ratio of 28.08 and a beta of 1.03. The stock has a fifty day simple moving average of $46.48 and a two-hundred day simple moving average of $50.66. Copart, Inc. has a 52-week low of $43.32 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 earnings per share. On average, sell-side analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Transactions at Copart

In other news, Director Thomas N. Tryforos sold 228,840 shares of the firm'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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Liaw sold 24,283 shares of the firm's stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the transaction, the chief executive officer owned 31,332 shares of the company's stock, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.68% of the company's stock.

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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