Resona Asset Management Co. Ltd. Has $15.43 Million Stock Position in Copart, Inc. $CPRT

Resona Asset Management Co. Ltd. lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 315,245 shares of the business services provider’s stock after purchasing an additional 25,681 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Copart were worth $15,429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CPRT. Vanguard Group Inc. boosted its holdings in Copart by 2.1% during the first quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock worth $5,900,295,000 after buying an additional 2,134,890 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Copart by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock valued at $868,417,000 after acquiring an additional 2,106,656 shares during the period. Invesco Ltd. boosted its stake in Copart by 7.5% during the 1st quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider’s stock worth $537,052,000 after acquiring an additional 658,329 shares during the last quarter. Amundi grew its holdings in Copart by 32.5% during the first quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock valued at $531,256,000 after purchasing an additional 2,299,192 shares during the period. Finally, Northern Trust Corp increased its stake in Copart by 0.7% in the first quarter. Northern Trust Corp now owns 8,927,156 shares of the business services provider’s stock valued at $505,188,000 after purchasing an additional 61,855 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of Copart stock opened at $40.51 on Friday. The firm has a market cap of $39.21 billion, a price-to-earnings ratio of 25.32 and a beta of 1.06. The stock’s 50-day moving average is $45.23 and its 200-day moving average is $49.33. Copart, Inc. has a one year low of $39.58 and a one year high of $64.38.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.Copart’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 EPS. On average, equities analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Robert W. Baird reduced their price target on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Stephens lowered their price target on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. Finally, HSBC set a $62.00 price objective on Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

Insider Buying and Selling

In other news, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the transaction, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is owned by company insiders.

Copart Profile

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.