Tokio Marine Asset Management Co. Ltd. Buys 103,700 Shares of Copart, Inc. (NASDAQ:CPRT)

Tokio Marine Asset Management Co. Ltd. grew its stake in Copart, Inc. (NASDAQ:CPRT) by 33.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 412,171 shares of the business services provider’s stock after acquiring an additional 103,700 shares during the quarter. Copart accounts for 0.9% of Tokio Marine Asset Management Co. Ltd.’s portfolio, making the stock its 23rd biggest holding. Tokio Marine Asset Management Co. Ltd.’s holdings in Copart were worth $21,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of CPRT. Optimum Investment Advisors lifted its position in Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 300 shares during the period. Eastern Bank bought a new position in shares of Copart during the 3rd quarter valued at $29,000. Crewe Advisors LLC boosted its stake in shares of Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after buying an additional 280 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after acquiring an additional 425 shares during the period. Finally, Versant Capital Management Inc increased its position in Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 492 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird dropped their target price on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th.

Copart Trading Down 0.3 %

CPRT traded down $0.20 during trading hours on Thursday, hitting $57.73. The company’s stock had a trading volume of 132,446 shares, compared to its average volume of 4,385,585. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $58.58. The business’s 50-day moving average price is $52.69 and its 200-day moving average price is $53.08. The stock has a market cap of $55.62 billion, a price-to-earnings ratio of 41.68 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a net margin of 32.17% and a return on equity of 19.55%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business posted $0.34 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. On average, analysts forecast that Copart, Inc. will post 1.54 earnings per share for the current year.

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.