Swiss National Bank Raises Holdings in Copart, Inc. $CPRT

Key Points

• Swiss National Bank increased its Copart stake by 7.1% in the first quarter, buying an additional 179,500 shares and lifting its holdings to 2,698,800 shares valued at about $89.6 million.
• Institutional investors remain heavily invested in Copart, with hedge funds and other institutions owning 85.78% of the stock; several other firms also boosted their positions during recent quarters.
• Copart beat quarterly expectations with EPS of $0.43 on revenue of $1.24 billion, and analysts currently rate the stock a “Moderate Buy” with an average price target of $44.50.

Swiss National Bank lifted its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 7.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,698,800 shares of the business services provider's stock after purchasing an additional 179,500 shares during the period. Swiss National Bank owned about 0.28% of Copart worth $89,600,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CPRT. Nordea Investment Management AB raised its position in shares of Copart by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider's stock valued at $31,353,000 after acquiring an additional 31,658 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Copart by 14.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider's stock worth $11,076,000 after buying an additional 41,060 shares during the last quarter. ABN Amro Investment Solutions grew its stake in Copart by 82.5% during the 4th quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider's stock worth $7,822,000 after buying an additional 90,339 shares during the last quarter. Davidson Kahn Capital Management LLC increased its position in Copart by 56.3% in the fourth quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider's stock worth $3,921,000 after buying an additional 36,091 shares during the period. Finally, Assetmark Inc. increased its position in Copart by 7.3% in the fourth quarter. Assetmark Inc. now owns 507,255 shares of the business services provider's stock worth $19,859,000 after buying an additional 34,410 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CPRT. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Zacks Research upgraded shares of Copart from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Freedom Capital raised Copart to a "strong-buy" rating in a report on Friday, June 26th. Finally, Weiss Ratings downgraded Copart from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.50.

Copart Stock Down 0.4%

Shares of Copart stock opened at $27.49 on Tuesday. Copart, Inc. has a 12 month low of $27.18 and a 12 month high of $50.11. The stock has a market cap of $25.45 billion, a PE ratio of 17.07 and a beta of 1.02. The business has a fifty day simple moving average of $30.61 and a 200-day simple moving average of $34.36.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. Analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Copart Company Profile

Copart NASDAQ: CPRT is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart's business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.

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