32,825 Shares in Copart, Inc. $CPRT Acquired by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, HoldingsChannel reports. The fund bought 32,825 shares of the business services provider’s stock, valued at approximately $1,285,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Copart by 2.4% in the third quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider’s stock worth $4,901,310,000 after acquiring an additional 2,581,784 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Copart by 3.2% during the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock valued at $1,806,674,000 after acquiring an additional 1,236,101 shares during the last quarter. State Street Corp boosted its stake in shares of Copart by 1.8% during the third quarter. State Street Corp now owns 37,062,931 shares of the business services provider’s stock valued at $1,666,720,000 after acquiring an additional 656,428 shares during the last quarter. Invesco Ltd. increased its position in Copart by 7.6% during the 3rd quarter. Invesco Ltd. now owns 10,931,871 shares of the business services provider’s stock worth $491,606,000 after purchasing an additional 771,573 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Copart by 1.1% in the 3rd quarter. Northern Trust Corp now owns 8,931,216 shares of the business services provider’s stock valued at $401,637,000 after purchasing an additional 97,411 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Robert W. Baird set a $48.00 target price on shares of Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Barclays reissued an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Two investment 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 data from MarketBeat, Copart presently has a consensus rating of “Hold” and a consensus target price of $44.40.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, 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 SEC, which can be accessed through the SEC website. 9.60% of the stock is currently owned by insiders.

Copart Stock Performance

CPRT opened at $34.40 on Friday. Copart, Inc. has a 1 year low of $32.20 and a 1 year high of $61.24. The company’s 50 day simple moving average is $33.32 and its 200 day simple moving average is $37.23. The stock has a market capitalization of $33.14 billion, a PE ratio of 21.50 and a beta of 1.02.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. Copart’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 earnings per share. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.