Raiffeisen Bank International AG Boosts Stock Holdings in Copart, Inc. $CPRT

Raiffeisen Bank International AG raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 954.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 242,455 shares of the business services provider’s stock after purchasing an additional 219,454 shares during the period. Raiffeisen Bank International AG’s holdings in Copart were worth $9,500,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Logan Capital Management Inc. grew its position in shares of Copart by 1.8% in the 4th quarter. Logan Capital Management Inc. now owns 319,304 shares of the business services provider’s stock worth $12,501,000 after buying an additional 5,536 shares during the last quarter. ICICI Prudential Asset Management Co Ltd grew its position in shares of Copart by 76.5% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 110,935 shares of the business services provider’s stock worth $4,343,000 after buying an additional 48,086 shares during the last quarter. Xponance LLC grew its position in shares of Copart by 5.6% in the 4th quarter. Xponance LLC now owns 217,006 shares of the business services provider’s stock worth $8,496,000 after buying an additional 11,600 shares during the last quarter. UniSuper Management Pty Ltd grew its position in shares of Copart by 3.4% in the 4th quarter. UniSuper Management Pty Ltd now owns 91,585 shares of the business services provider’s stock worth $3,586,000 after buying an additional 2,991 shares during the last quarter. Finally, Keel Point LLC grew its position in shares of Copart by 22.3% in the 4th quarter. Keel Point LLC now owns 6,685 shares of the business services provider’s stock worth $262,000 after buying an additional 1,218 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

CPRT has been the topic of a number of analyst reports. Barclays reaffirmed an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Robert W. Baird set a $48.00 price objective on shares of Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Weiss Ratings downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $44.50.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.60% of the company’s stock.

Copart Trading Down 1.0%

NASDAQ:CPRT opened at $31.06 on Friday. The company has a market cap of $28.76 billion, a PE ratio of 19.29 and a beta of 1.00. Copart, Inc. has a twelve month low of $29.97 and a twelve month high of $50.72. The company’s 50 day moving average is $32.90 and its two-hundred day moving average is $36.24.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. Copart’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Copart Company Profile

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.