ING Groep NV bought a new position in Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,888 shares of the business services provider’s stock, valued at approximately $773,000.
A number of other hedge funds have also modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new stake in Copart in the second quarter valued at approximately $485,000. Swiss National Bank boosted its position in Copart by 0.8% in the third quarter. Swiss National Bank now owns 346,700 shares of the business services provider’s stock worth $11,916,000 after purchasing an additional 2,900 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Copart in the third quarter worth $816,000. Norris Perne & French LLP MI bought a new stake in shares of Copart in the third quarter valued at $553,000. Finally, State Street Corp raised its stake in shares of Copart by 98.2% in the second quarter. State Street Corp now owns 5,371,016 shares of the business services provider’s stock valued at $170,744,000 after buying an additional 2,660,809 shares during the period. Institutional investors and hedge funds own 77.81% of the company’s stock.
In other news, Director Matt Blunt sold 116,667 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $41.96, for a total value of $4,895,347.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel J. Englander sold 68,004 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $43.38, for a total value of $2,950,013.52. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by corporate insiders.
Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Tuesday, November 21st. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. Copart had a return on equity of 29.96% and a net margin of 20.01%. The firm had revenue of $419.17 million during the quarter, compared to analysts’ expectations of $377.37 million. During the same period in the prior year, the business earned $0.29 EPS. research analysts anticipate that Copart, Inc. will post 1.52 earnings per share for the current fiscal year.
A number of analysts recently issued reports on the company. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Thursday, February 8th. BidaskClub upgraded Copart from a “sell” rating to a “hold” rating in a research note on Thursday. Stephens upgraded Copart from an “equal weight” rating to an “overweight” rating and set a $50.00 target price for the company in a research report on Monday. JPMorgan Chase & Co. boosted their target price on Copart from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, November 24th. Finally, Jefferies Group boosted their target price on Copart to $40.00 and gave the stock a “hold” rating in a research report on Thursday, November 23rd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $44.33.
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Copart Company Profile
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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