Swiss Life Asset Management Ltd Boosts Stock Holdings in Copart, Inc. $CPRT

Swiss Life Asset Management Ltd increased its position in Copart, Inc. (NASDAQ:CPRT) by 10.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 170,319 shares of the business services provider’s stock after acquiring an additional 16,779 shares during the period. Swiss Life Asset Management Ltd’s holdings in Copart were worth $7,659,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CPRT. PDS Planning Inc increased its holdings in shares of Copart by 4.9% in the 3rd quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock worth $234,000 after purchasing an additional 242 shares in the last quarter. Hollencrest Capital Management lifted its holdings in shares of Copart by 13.2% during the third quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock valued at $94,000 after purchasing an additional 244 shares in the last quarter. Unique Wealth LLC lifted its holdings in shares of Copart by 2.3% during the third quarter. Unique Wealth LLC now owns 10,785 shares of the business services provider’s stock valued at $485,000 after purchasing an additional 245 shares in the last quarter. Howard Capital Management Inc. boosted its position in shares of Copart by 1.1% during the third quarter. Howard Capital Management Inc. now owns 24,163 shares of the business services provider’s stock valued at $1,087,000 after buying an additional 253 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after buying an additional 256 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CPRT has been the topic of several research analyst reports. Barclays restated an “underweight” rating and set a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Copart presently has a consensus rating of “Hold” and a consensus target price of $44.40.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer owned 55,970 shares in the company, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.60% of the company’s stock.

Copart Price Performance

Shares of CPRT stock opened at $32.84 on Friday. Copart, Inc. has a 1 year low of $32.20 and a 1 year high of $63.85. The firm has a fifty day moving average price of $38.15 and a 200-day moving average price of $40.89. The company has a market cap of $31.63 billion, a price-to-earnings ratio of 20.52 and a beta of 1.09.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the firm posted $0.40 earnings per share. Copart’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.