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

DekaBank Deutsche Girozentrale lifted its holdings in Copart, Inc. (NASDAQ:CPRT) by 18.6% in the second quarter, Holdings Channel reports. The fund owned 411,055 shares of the business services provider’s stock after purchasing an additional 64,364 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Copart were worth $20,062,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CPRT. Nuveen LLC bought a new position in shares of Copart in the 1st quarter valued at about $267,723,000. Fiera Capital Corp lifted its holdings 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 valued at $225,942,000 after acquiring an additional 2,642,100 shares during the last quarter. PineStone Asset Management Inc. lifted its holdings 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 valued at $314,415,000 after acquiring an additional 2,310,067 shares during the last quarter. Amundi lifted its holdings 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 valued at $531,256,000 after acquiring an additional 2,299,192 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings 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 valued at $5,900,295,000 after acquiring an additional 2,134,890 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Copart stock opened at $44.93 on Thursday. The company has a 50 day moving average price of $46.48 and a 200-day moving average price of $50.66. Copart, Inc. has a fifty-two week low of $43.32 and a fifty-two week high of $64.38. The company has a market capitalization of $43.48 billion, a PE ratio of 28.08 and a beta of 1.03.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating 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 firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. On average, analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,283 shares of Copart stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. Insiders own 9.68% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on CPRT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Stephens decreased their price objective on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, September 5th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. HSBC set a $62.00 price objective on shares of Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Finally, Robert W. Baird decreased their price objective on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Copart presently has a consensus rating of “Moderate Buy” and an average target price of $54.50.

About Copart

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.