Sumitomo Mitsui Trust Group Inc. Boosts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,066,078 shares of the business services provider's stock after acquiring an additional 40,505 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Copart worth $108,262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CPRT. Venturi Wealth Management LLC lifted its holdings in shares of Copart by 37.9% in the third quarter. Venturi Wealth Management LLC now owns 9,816 shares of the business services provider's stock worth $514,000 after acquiring an additional 2,697 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Copart in the third quarter valued at approximately $33,000. Jensen Investment Management Inc. increased its holdings in shares of Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider's stock worth $185,299,000 after buying an additional 3,398,423 shares in the last quarter. YCG LLC lifted its stake in shares of Copart by 0.6% in the 3rd quarter. YCG LLC now owns 1,180,339 shares of the business services provider's stock valued at $61,850,000 after acquiring an additional 7,125 shares during the last quarter. Finally, Covestor Ltd raised its position in Copart by 5.1% in the third quarter. Covestor Ltd now owns 4,299 shares of the business services provider's stock valued at $225,000 after purchasing an additional 209 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Robert W. Baird dropped their price target on shares of Copart from $58.00 to $56.00 and set an "outperform" rating for the company in a research note on Thursday, September 5th.

Copart Stock Performance

Shares of NASDAQ:CPRT traded down $0.06 during midday trading on Thursday, reaching $57.87. The company's stock had a trading volume of 1,022,724 shares, compared to its average volume of 4,389,613. Copart, Inc. has a fifty-two week low of $46.21 and a fifty-two week high of $58.58. The firm has a 50 day moving average price of $52.69 and a two-hundred day moving average price of $53.08. The firm has a market capitalization of $55.75 billion, a price-to-earnings ratio of 41.57 and a beta of 1.27.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company earned $0.34 earnings per share. The firm's revenue was up 7.2% compared to the same quarter last year. As a group, research analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current year.

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.