Copart, Inc. (NASDAQ:CPRT) Shares Purchased by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. grew its position in Copart, Inc. (NASDAQ:CPRT) by 8.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,820 shares of the business services provider’s stock after buying an additional 960 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Copart were worth $619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. Jensen Investment Management Inc. boosted its position in Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after acquiring an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Copart by 462.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after buying an additional 3,016,795 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Copart during the second quarter worth $109,382,000. Comgest Global Investors S.A.S. grew its holdings in shares of Copart by 706.6% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock worth $83,153,000 after purchasing an additional 1,390,146 shares during the period. Finally, Kimelman & Baird LLC acquired a new stake in shares of Copart during the 2nd quarter worth about $70,307,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. upped their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

Copart Stock Performance

Shares of Copart stock opened at $62.70 on Monday. The business has a 50-day simple moving average of $53.79 and a 200-day simple moving average of $53.18. Copart, Inc. has a one year low of $46.21 and a one year high of $62.90. The company has a market cap of $60.40 billion, a PE ratio of 44.15 and a beta of 1.27.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 19.45% and a net margin of 31.92%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. On average, sell-side analysts predict that Copart, Inc. will post 1.55 earnings per share for the current fiscal year.

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.