Sompo Asset Management Co. Ltd. Raises Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Sompo Asset Management Co. Ltd. grew its position in Copart, Inc. (NASDAQ:CPRT) by 8.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,820 shares of the business services provider’s stock after purchasing an additional 960 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Copart were worth $619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CPRT. JPMorgan Chase & Co. raised their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. 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.

Copart Stock Performance

Shares of CPRT opened at $62.70 on Monday. The company has a 50 day moving average price of $53.79 and a 200-day moving average price of $53.18. Copart, Inc. has a fifty-two week low of $46.21 and a fifty-two week high of $62.90. The stock has a market capitalization of $60.40 billion, a PE ratio of 44.15 and a beta of 1.27.

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