Union Bancaire Privee UBP SA Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

Union Bancaire Privee UBP SA bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, Holdings Channel reports. The fund bought 13,466 shares of the business services provider’s stock, valued at approximately $742,000.

Several other hedge funds have also recently made changes to their positions in CPRT. Jensen Investment Management Inc. increased its stake in shares of 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 buying an additional 3,398,423 shares during the period. Franklin Resources Inc. increased its stake in shares of Copart by 335.8% during the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after buying an additional 2,084,626 shares during the period. Comgest Global Investors S.A.S. increased its stake in shares of 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 valued at $83,153,000 after buying an additional 1,390,146 shares during the period. PineStone Asset Management Inc. increased its stake in shares of Copart by 192.4% during the fourth quarter. PineStone Asset Management Inc. now owns 1,585,400 shares of the business services provider’s stock valued at $90,986,000 after buying an additional 1,043,200 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Copart by 1,103.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,062,931 shares of the business services provider’s stock valued at $55,698,000 after buying an additional 974,585 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Up 0.3 %

Shares of CPRT stock opened at $56.75 on Tuesday. The stock has a market cap of $54.68 billion, a price-to-earnings ratio of 38.09 and a beta of 1.33. The business’s fifty day moving average is $57.89 and its 200 day moving average is $55.78. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 398,790 shares of company stock valued at $23,161,540 over the last ninety days. Company insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped 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.

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.