Copart, Inc. (NASDAQ:CPRT) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 4.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm 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 approximately 0.40% of Copart worth $201,317,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Jensen Investment Management Inc. raised its position in Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after acquiring an additional 3,398,423 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Copart by 462.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after purchasing an additional 3,016,795 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Copart in the 2nd quarter valued at $109,382,000. Comgest Global Investors S.A.S. boosted its holdings in Copart by 706.6% during the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock worth $83,153,000 after buying an additional 1,390,146 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in Copart during the second quarter valued at $70,307,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

NASDAQ:CPRT opened at $63.39 on Friday. The stock has a market capitalization of $61.08 billion, a PE ratio of 44.64 and a beta of 1.27. Copart, Inc. has a fifty-two week low of $46.21 and a fifty-two week high of $64.38. The company has a fifty day moving average of $55.06 and a two-hundred day moving average of $53.51.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 18.96% and a net margin of 31.92%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Transactions at Copart

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

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.