Sumitomo Mitsui DS Asset Management Company Ltd Buys 1,271 Shares of Copart, Inc. (NASDAQ:CPRT)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,860 shares of the business services provider’s stock after purchasing an additional 1,271 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Copart were worth $5,764,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Copart by 289.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,322 shares of the business services provider’s stock valued at $1,970,000 after acquiring an additional 25,512 shares during the period. Sowell Financial Services LLC purchased a new stake in Copart in the 1st quarter worth approximately $604,000. Tsai Capital Corp boosted its holdings in Copart by 13.3% in the 4th quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider’s stock valued at $3,540,000 after purchasing an additional 7,230 shares during the period. Voleon Capital Management LP purchased a new position in shares of Copart during the 4th quarter valued at $1,314,000. Finally, Handelsbanken Fonder AB grew its position in shares of Copart by 53.3% during the 1st quarter. Handelsbanken Fonder AB now owns 854,336 shares of the business services provider’s stock valued at $48,347,000 after purchasing an additional 297,210 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Argus cut Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Copart Price Performance

CPRT stock opened at $49.08 on Thursday. The firm has a 50 day simple moving average of $54.77 and a two-hundred day simple moving average of $56.25. The stock has a market cap of $47.46 billion, a PE ratio of 32.29 and a beta of 1.07. Copart, Inc. has a one year low of $47.33 and a one year high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. Copart had a net margin of 32.21% and a return on equity of 18.20%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. On average, research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Steven D. Cohan sold 94,997 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.68% of the stock is owned by insiders.

Copart Company 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.