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Top Stock Picks for Week of November 27, 2023

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Copart, Inc. (CPRT - Free Report) provides online auctions and a wide range of remarketing services to process and sell salvage and clean-title vehicles. Copart enjoys a leading position in the automotive auction market, commanding roughly 40% of the market share. The company’s competitiveness is supported by its multiple locations and the size of its new facility openings. Expansion initiatives, along with a digital ramp-up, will aid Copart in a fast pickup across the country. The launch of Copart Max has further stepped up its digital game. Salvage auction volumes are likely to remain elevated amid an increase in vehicle miles traveled and a higher collision frequency. Additionally, aging vehicles and technologically advanced auto parts are proving to be a boon for industry participants. A strong balance sheet with low leverage and high liquidity provides the firm with financial flexibility. These tailwinds account for our bullish stance on the stock.  

Pegasystems Inc. (PEGA - Free Report) is a leading provider of Customer Relationship Management software that enables transaction-intensive organizations to manage a broad array of customer interactions.The Zacks Consensus Estimate for Pegasystems’ 2023 EPS has improved 21.2% in the past 60 days. Pegasystems, which belongs to the Zacks Computer - Software industry, posted revenues of $334.64 million for the quarter ended September 2023. This compares to year-ago revenues of $270.73 million. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Shares of PEGA have jumped 45% in the past year.

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