Credit Suisse AG Increases Position in Copart, Inc. (CPRT)

Credit Suisse AG boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 7.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 254,896 shares of the business services provider’s stock after acquiring an additional 17,705 shares during the period. Credit Suisse AG’s holdings in Copart were worth $13,135,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Copart by 7.7% in the third quarter. BlackRock Inc. now owns 14,359,271 shares of the business services provider’s stock valued at $739,932,000 after acquiring an additional 1,029,566 shares during the last quarter. FMR LLC lifted its position in Copart by 18.9% in the third quarter. FMR LLC now owns 7,800,473 shares of the business services provider’s stock valued at $401,959,000 after acquiring an additional 1,237,941 shares during the last quarter. Wells Fargo & Company MN lifted its position in Copart by 0.3% in the third quarter. Wells Fargo & Company MN now owns 2,814,700 shares of the business services provider’s stock valued at $145,040,000 after acquiring an additional 7,446 shares during the last quarter. Janus Henderson Group PLC lifted its position in Copart by 100.9% in the third quarter. Janus Henderson Group PLC now owns 2,723,298 shares of the business services provider’s stock valued at $140,331,000 after acquiring an additional 1,367,589 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Copart by 35.1% in the second quarter. Northern Trust Corp now owns 2,119,824 shares of the business services provider’s stock valued at $119,897,000 after acquiring an additional 551,294 shares during the last quarter. 79.49% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:CPRT opened at $49.04 on Friday. Copart, Inc. has a one year low of $39.21 and a one year high of $67.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.00 and a quick ratio of 2.92. The stock has a market capitalization of $11.53 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 1.01 and a beta of 1.00.

Copart (NASDAQ:CPRT) last announced its earnings results on Tuesday, November 20th. The business services provider reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. Copart had a net margin of 24.59% and a return on equity of 29.95%. The business had revenue of $461.40 million during the quarter, compared to analysts’ expectations of $460.09 million. During the same period in the prior year, the company earned $0.32 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts predict that Copart, Inc. will post 2.11 EPS for the current year.

A number of brokerages recently weighed in on CPRT. BidaskClub raised shares of Copart from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 5th. Barrington Research reissued a “hold” rating on shares of Copart in a research report on Tuesday, September 18th. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Tuesday, September 18th. Northcoast Research reaffirmed a “neutral” rating on shares of Copart in a report on Monday, September 17th. Finally, JPMorgan Chase & Co. cut shares of Copart from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $48.00 to $47.00 in a report on Friday, September 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Copart currently has an average rating of “Hold” and a consensus price target of $55.14.

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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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.

Further Reading: Stock Symbols and CUSIP Explained

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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