First Citizens Bank & Trust Co. reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 18.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,243 shares of the business services provider’s stock after selling 3,263 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Copart were worth $1,812,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of CPRT. Nuveen Asset Management LLC raised its position in Copart by 48.2% in the second quarter. Nuveen Asset Management LLC now owns 1,317,945 shares of the business services provider’s stock worth $109,745,000 after acquiring an additional 428,641 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Copart by 178.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 549,600 shares of the business services provider’s stock worth $57,796,000 after purchasing an additional 352,190 shares during the period. Morgan Stanley lifted its stake in Copart by 65.5% in the third quarter. Morgan Stanley now owns 753,600 shares of the business services provider’s stock valued at $79,248,000 after purchasing an additional 298,282 shares during the last quarter. Oliver Luxxe Assets LLC bought a new position in Copart during the third quarter valued at $22,911,000. Finally, AMF Pensionsforsakring AB purchased a new stake in Copart in the third quarter worth $20,747,000. Institutional investors own 79.35% of the company’s stock.
In other Copart news, Director Daniel J. Englander sold 35,000 shares of the company’s stock in a transaction dated Tuesday, January 5th. The stock was sold at an average price of $119.76, for a total value of $4,191,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 12.61% of the stock is owned by insiders.
Several brokerages recently weighed in on CPRT. JPMorgan Chase & Co. lifted their price objective on Copart from $88.00 to $101.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. Truist boosted their price target on shares of Copart from $117.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, November 12th. BidaskClub downgraded shares of Copart from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 7th. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Friday, November 20th. Finally, Exane BNP Paribas started coverage on Copart in a research report on Monday, December 7th. They set an “outperform” rating on the stock. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $101.20.
Copart stock opened at $119.10 on Thursday. Copart, Inc. has a 1-year low of $55.69 and a 1-year high of $130.96. The company has a current ratio of 2.79, a quick ratio of 2.72 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $28.12 billion, a PE ratio of 41.79, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. The firm’s 50 day simple moving average is $119.65 and its 200 day simple moving average is $107.03.
Copart (NASDAQ:CPRT) last released its quarterly earnings results on Tuesday, November 17th. The business services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.10. Copart had a net margin of 30.39% and a return on equity of 26.79%. The firm had revenue of $592.94 million during the quarter, compared to analyst estimates of $570.87 million. Research analysts forecast that Copart, Inc. will post 3.1 earnings per share for the current year.
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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