Nomura Asset Management Co. Ltd. Sells 575,566 Shares of Copart, Inc. $CPRT

Nomura Asset Management Co. Ltd. decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 41.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 818,776 shares of the business services provider’s stock after selling 575,566 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Copart were worth $32,055,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. MUFG Securities EMEA plc boosted its stake in Copart by 114.4% during the 4th quarter. MUFG Securities EMEA plc now owns 36,511 shares of the business services provider’s stock worth $1,429,000 after acquiring an additional 19,484 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Copart by 48.4% during the 4th quarter. BNP Paribas Financial Markets now owns 2,382,130 shares of the business services provider’s stock worth $93,260,000 after acquiring an additional 777,443 shares during the last quarter. Edgemoor Investment Advisors Inc. boosted its stake in Copart by 9.4% during the 4th quarter. Edgemoor Investment Advisors Inc. now owns 40,665 shares of the business services provider’s stock worth $1,592,000 after acquiring an additional 3,494 shares during the last quarter. Norges Bank bought a new position in Copart during the 4th quarter worth approximately $569,569,000. Finally, Eurizon Capital SGR S.p.A. bought a new position in Copart during the 4th quarter worth approximately $3,299,000. Institutional investors own 85.78% of the company’s stock.

Copart Stock Down 1.4%

NASDAQ CPRT opened at $32.32 on Tuesday. Copart, Inc. has a 12-month low of $31.95 and a 12-month high of $51.40. The company has a market capitalization of $31.13 billion, a PE ratio of 20.07 and a beta of 1.02. The firm’s 50 day moving average is $33.22 and its 200-day moving average is $36.82.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the company earned $0.42 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Copart, Inc. will post 1.58 EPS for the current year.

Insider Activity

In other news, CEO Jeffrey Liaw sold 26,213 shares of Copart 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 sale, the chief executive officer directly owned 79,532 shares in the company, valued at $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CPRT shares. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Barclays restated an “underweight” rating and set a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Jefferies Financial Group set a $45.00 target price on shares of Copart in a report on Friday, May 22nd. Finally, Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Copart presently has an average rating of “Hold” and an average price target of $44.50.

Copart Profile

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.