Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in Copart, Inc. $CPRT

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Copart, Inc. (NASDAQ:CPRT) by 102.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 456,870 shares of the business services provider’s stock after purchasing an additional 230,957 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Copart were worth $17,886,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new stake in Copart during the 3rd quarter worth about $25,000. Lodestone Wealth Management LLC purchased a new stake in Copart during the 4th quarter worth about $25,000. Tripletail Wealth Management LLC purchased a new stake in Copart during the 3rd quarter worth about $27,000. LRI Investments LLC increased its position in Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after purchasing an additional 363 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its position in Copart by 54.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after purchasing an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Down 0.2%

Shares of NASDAQ:CPRT opened at $33.68 on Thursday. The stock’s 50-day moving average price is $34.80 and its two-hundred day moving average price is $38.73. Copart, Inc. has a 12-month low of $32.20 and a 12-month high of $63.85. The firm has a market cap of $32.44 billion, a price-to-earnings ratio of 21.05 and a beta of 1.14.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Copart had a return on equity of 16.68% and a net margin of 33.76%.The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the business posted $0.40 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, research analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the sale, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.60% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Copart in a research report on Monday, March 23rd. Robert W. Baird set a $48.00 price objective on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. dropped their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Finally, Barclays reiterated an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $44.40.

Copart 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.