UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Holdings in Copart, Inc. (NASDAQ:CPRT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 4.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,841,922 shares of the business services provider's stock after selling 198,195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.40% of Copart worth $201,317,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Optimum Investment Advisors increased its position in Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock valued at $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank acquired a new stake in Copart in the 3rd quarter valued at about $29,000. Crewe Advisors LLC increased its position in Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider's stock valued at $31,000 after acquiring an additional 280 shares in the last quarter. Meeder Asset Management Inc. increased its position in Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider's stock valued at $31,000 after acquiring an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in Copart by 477.7% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider's stock valued at $32,000 after acquiring an additional 492 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Stock Performance

Shares of CPRT stock traded down $0.12 during trading hours on Friday, hitting $63.39. 2,414,853 shares of the company were exchanged, compared to its average volume of 4,717,099. Copart, Inc. has a fifty-two week low of $46.21 and a fifty-two week high of $64.38. The company has a 50 day simple moving average of $55.06 and a two-hundred day simple moving average of $53.50. The firm has a market cap of $61.08 billion, a P/E ratio of 44.64 and a beta of 1.27.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). Copart had a net margin of 31.92% and a return on equity of 18.96%. The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the previous year, the firm earned $0.34 EPS. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity

In other news, Chairman A Jayson Adair sold 251,423 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares of the company's stock, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 9.68% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CPRT shares. JPMorgan Chase & Co. lifted their price target on shares of Copart from $55.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Robert W. Baird cut their price objective on shares of Copart from $58.00 to $56.00 and set an "outperform" rating on the stock in a research report on Thursday, September 5th.

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.