Tokio Marine Asset Management Co. Ltd. Lowers Holdings in Copart, Inc. $CPRT

Tokio Marine Asset Management Co. Ltd. trimmed its holdings in Copart, Inc. (NASDAQ:CPRT) by 15.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 429,539 shares of the business services provider’s stock after selling 79,423 shares during the quarter. Copart accounts for approximately 0.6% of Tokio Marine Asset Management Co. Ltd.’s investment portfolio, making the stock its 28th biggest holding. Tokio Marine Asset Management Co. Ltd.’s holdings in Copart were worth $16,816,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Copart by 2.4% in the third quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider’s stock valued at $4,901,310,000 after purchasing an additional 2,581,784 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Copart by 3.2% in the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock valued at $1,806,674,000 after purchasing an additional 1,236,101 shares during the last quarter. State Street Corp boosted its holdings in Copart by 1.8% in the third quarter. State Street Corp now owns 37,062,931 shares of the business services provider’s stock valued at $1,666,720,000 after purchasing an additional 656,428 shares during the last quarter. Invesco Ltd. boosted its holdings in Copart by 7.6% in the third quarter. Invesco Ltd. now owns 10,931,871 shares of the business services provider’s stock valued at $491,606,000 after purchasing an additional 771,573 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Copart by 1.1% during the 3rd quarter. Northern Trust Corp now owns 8,931,216 shares of the business services provider’s stock worth $401,637,000 after acquiring an additional 97,411 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Trading Up 0.5%

Shares of Copart stock opened at $33.45 on Friday. The firm has a market capitalization of $32.22 billion, a PE ratio of 20.91 and a beta of 1.14. Copart, Inc. has a twelve month low of $32.20 and a twelve month high of $63.85. The firm’s 50-day moving average price is $35.18 and its 200 day moving average price is $38.97.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. On average, sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This trade represents a 24.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CPRT shares. Barclays reissued an “underweight” rating and set a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. JPMorgan Chase & Co. lowered their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Copart in a research note on Monday, March 23rd. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Finally, Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $44.40.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.