Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Copart, Inc. (NASDAQ:CPRT)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 13.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 188,277 shares of the business services provider's stock after purchasing an additional 22,592 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Copart were worth $9,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Investment Advisers boosted its stake in shares of Copart by 162.9% in the first quarter. Cetera Investment Advisers now owns 184,417 shares of the business services provider's stock worth $10,681,000 after acquiring an additional 114,263 shares during the period. Cetera Advisors LLC boosted its stake in Copart by 72.0% in the 1st quarter. Cetera Advisors LLC now owns 35,767 shares of the business services provider's stock worth $2,072,000 after purchasing an additional 14,971 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Copart by 20.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,368 shares of the business services provider's stock valued at $129,000 after buying an additional 398 shares in the last quarter. Transcend Capital Advisors LLC bought a new stake in shares of Copart during the second quarter valued at approximately $520,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Copart by 79.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 8,344 shares of the business services provider's stock worth $452,000 after buying an additional 3,693 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Insider Transactions at Copart

In other Copart 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 completion of the sale, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th. Robert W. Baird dropped their price target on Copart from $58.00 to $56.00 and set an "outperform" rating for the company in a research note on Thursday, September 5th.

Copart Trading Down 2.2 %

Shares of CPRT stock traded down $1.37 during trading hours on Monday, reaching $62.02. 4,775,574 shares of the stock were exchanged, compared to its average volume of 4,471,686. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $64.38. The firm has a market capitalization of $59.76 billion, a price-to-earnings ratio of 44.64 and a beta of 1.27. The company's 50-day moving average price is $55.06 and its 200-day moving average price is $53.49.

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

Copart Profile

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.