Daiwa Securities Group Inc. Raises Stock Position in Copart, Inc. (NASDAQ:CPRT)

Daiwa Securities Group Inc. raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 251,833 shares of the business services provider’s stock after purchasing an additional 21,951 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Copart were worth $14,453,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Copart by 9.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 206,858 shares of the business services provider’s stock worth $11,872,000 after purchasing an additional 18,581 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Copart in the 4th quarter worth about $2,825,000. Amundi lifted its holdings in shares of Copart by 18.2% in the fourth quarter. Amundi now owns 7,080,834 shares of the business services provider’s stock valued at $402,332,000 after purchasing an additional 1,090,841 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in shares of Copart by 29.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 11,995 shares of the business services provider’s stock valued at $688,000 after purchasing an additional 2,694 shares during the last quarter. Finally, River Global Investors LLP acquired a new stake in shares of Copart in the fourth quarter valued at approximately $17,762,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.

Copart Stock Down 1.7 %

NASDAQ:CPRT opened at $52.82 on Tuesday. The company has a market cap of $51.03 billion, a P/E ratio of 35.45 and a beta of 1.30. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The firm’s 50 day moving average is $57.05 and its two-hundred day moving average is $56.01.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity

In other Copart news, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,480 shares of company stock valued at $18,007,983. Company insiders own 9.68% of the company’s stock.

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.