Mitsubishi UFJ Asset Management Co. Ltd. Purchases 184,274 Shares of Copart, Inc. $CPRT

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 10.6% during the 2nd quarter, Holdings Channel reports. The firm owned 1,926,225 shares of the business services provider’s stock after purchasing an additional 184,274 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Copart were worth $94,520,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Atticus Wealth Management LLC bought a new position in Copart during the second quarter worth about $31,000. Ameritas Advisory Services LLC acquired a new position in Copart during the 2nd quarter worth approximately $31,000. Creekmur Asset Management LLC increased its stake in Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after buying an additional 574 shares during the last quarter. Accent Capital Management LLC bought a new stake in Copart during the first quarter worth about $36,000. Finally, Bank of Jackson Hole Trust raised its holdings in Copart by 83.8% during the second quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after acquiring an additional 335 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Up 1.3%

Shares of NASDAQ CPRT opened at $40.51 on Friday. The company has a market capitalization of $39.21 billion, a PE ratio of 25.32 and a beta of 1.06. The firm has a fifty day simple moving average of $45.23 and a 200 day simple moving average of $49.25. Copart, Inc. has a twelve month low of $39.58 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $0.33 earnings per share. As a group, equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Transactions at Copart

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the sale, the chief executive officer directly owned 31,332 shares in the company, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 9.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CPRT shares. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Stephens decreased their price objective on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. HSBC set a $62.00 target price on Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Finally, Robert W. Baird cut their target price on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Copart currently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

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.