Asset Management One Co. Ltd. Grows Stake in Copart, Inc. (NASDAQ:CPRT)

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Asset Management One Co. Ltd. increased its stake in Copart, Inc. (NASDAQ:CPRT) by 12.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,770 shares of the business services provider’s stock after acquiring an additional 12,771 shares during the period. Asset Management One Co. Ltd. owned approximately 0.05% of Copart worth $8,801,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of Copart by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,408,868 shares of the business services provider’s stock worth $67,316,000 after purchasing an additional 18,526 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Copart by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 3,133,656 shares of the business services provider’s stock valued at $149,501,000 after acquiring an additional 131,629 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its stake in shares of Copart by 3.4% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,872 shares of the business services provider’s stock valued at $840,000 after acquiring an additional 451 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Copart by 4.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,740 shares of the business services provider’s stock worth $711,000 after purchasing an additional 506 shares during the period. Finally, Mid Atlantic Financial Management Inc. ADV bought a new stake in Copart during the first quarter worth about $229,000. 81.98% of the stock is owned by institutional investors and hedge funds.

In related news, insider William E. Franklin sold 41,007 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $77.37, for a total value of $3,172,711.59. Following the sale, the insider now directly owns 58,974 shares in the company, valued at approximately $4,562,818.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.99% of the company’s stock.

NASDAQ:CPRT traded up $0.31 during trading hours on Friday, hitting $81.37. 757,482 shares of the company traded hands, compared to its average volume of 1,548,561. The company has a market cap of $18.69 billion, a PE ratio of 36.16, a PEG ratio of 1.50 and a beta of 0.82. Copart, Inc. has a one year low of $44.61 and a one year high of $83.70. The company has a quick ratio of 2.36, a current ratio of 2.44 and a debt-to-equity ratio of 0.22. The firm’s 50-day simple moving average is $79.28 and its 200-day simple moving average is $73.08.

Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, September 4th. The business services provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. The company had revenue of $542.60 million for the quarter, compared to analysts’ expectations of $517.84 million. Copart had a return on equity of 32.83% and a net margin of 28.98%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. As a group, equities research analysts expect that Copart, Inc. will post 2.67 EPS for the current year.

A number of research firms have recently commented on CPRT. Robert W. Baird set a $85.00 target price on shares of Copart and gave the stock a “buy” rating in a report on Friday, September 6th. Barrington Research reiterated a “hold” rating on shares of Copart in a report on Wednesday, September 11th. JPMorgan Chase & Co. raised their price objective on shares of Copart from $62.00 to $71.00 and gave the company an “underweight” rating in a report on Friday, September 6th. ValuEngine lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BidaskClub raised shares of Copart from a “hold” rating to a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $75.21.

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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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