Zurcher Kantonalbank Zurich Cantonalbank Purchases 22,592 Shares of Copart, Inc. (NASDAQ:CPRT)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 13.6% in the third quarter, HoldingsChannel reports. The firm owned 188,277 shares of the business services provider’s stock after buying an additional 22,592 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Copart were worth $9,866,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Optimum Investment Advisors lifted its position in Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Eastern Bank bought a new position in shares of Copart in the third quarter worth about $29,000. Crewe Advisors LLC lifted its position in shares of Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after buying an additional 280 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 425 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Copart by 477.7% during the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 492 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction that occurred 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 sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Copart Price Performance

Copart stock opened at $63.39 on Monday. The firm’s 50 day moving average price is $55.06 and its 200-day moving average price is $53.50. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.38. The stock has a market cap of $61.08 billion, a P/E ratio of 44.64 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, equities analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

About Copart

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.