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

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atticus Wealth Management LLC bought a new stake in Copart during the second quarter worth $31,000. Ameritas Advisory Services LLC acquired a new position in shares of Copart during the 2nd quarter worth about $31,000. Creekmur Asset Management LLC raised its holdings in shares of Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 574 shares during the period. Accent Capital Management LLC bought a new stake in shares of Copart in the 1st quarter valued at about $36,000. Finally, Bank of Jackson Hole Trust lifted its stake in Copart by 83.8% in the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 335 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Trading Up 1.3%

Shares of NASDAQ CPRT opened at $40.51 on Friday. The firm has a market cap of $39.21 billion, a P/E ratio of 25.32 and a beta of 1.06. The business’s 50 day moving average is $45.23 and its 200-day moving average is $49.33. Copart, Inc. has a 1-year low of $39.58 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 EPS. Analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Copart

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at $1,403,360.28. This 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 currently owned by company insiders.

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.