UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Grows Stock Holdings in Copart, Inc. $CPRT

Key Points

• UBS Asset Management increased its stake in Copart, Inc. by 29.5% during Q1, acquiring an additional 1,340,706 shares for a total of approximately 5.89 million shares, valued at $333.2 million.
• Analysts have mixed opinions on Copart, with target prices ranging from $46.00 to $64.00, resulting in an average rating of "Moderate Buy" and an average target price of $54.50.
• Copart reported an EPS of $0.41 for the most recent quarter, exceeding expectations, while year-over-year revenue increased by 2.9%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 29.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,888,297 shares of the business services provider's stock after buying an additional 1,340,706 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.61% of Copart worth $333,219,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Copart by 2.1% during 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 acquiring an additional 2,134,890 shares during the last quarter. Principal Financial Group Inc. lifted its position in Copart by 3.3% during the first quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock valued at $2,230,177,000 after purchasing an additional 1,249,687 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Copart by 15.9% during the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock valued at $868,417,000 after purchasing an additional 2,106,656 shares during the period. Invesco Ltd. increased its position in Copart by 7.5% in the first quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider's stock worth $537,052,000 after buying an additional 658,329 shares in the last quarter. Finally, Amundi raised its stake in shares of Copart by 32.5% in the first quarter. Amundi now owns 9,380,026 shares of the business services provider's stock worth $531,256,000 after buying an additional 2,299,192 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the transaction, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.68% of the stock is currently owned by insiders.

Copart Price Performance

Shares of Copart stock traded down $0.50 on Friday, reaching $48.40. The company had a trading volume of 3,944,793 shares, compared to its average volume of 6,601,746. The firm has a market cap of $46.80 billion, a price-to-earnings ratio of 30.25 and a beta of 1.03. The firm's 50-day moving average price is $47.39 and its two-hundred day moving average price is $52.47. Copart, Inc. has a 1 year low of $45.05 and a 1 year high of $64.38.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. HSBC set a $62.00 price target on shares of Copart and gave the stock a "buy" rating in a research report on Thursday, September 4th. Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. Stephens decreased their price target on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Friday, September 5th. JPMorgan Chase & Co. dropped their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Finally, Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.50.

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.