Nomura Asset Management Co. Ltd. Boosts Holdings in Copart, Inc. (NASDAQ:CPRT)

Nomura Asset Management Co. Ltd. boosted its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 12.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,654,508 shares of the business services provider's stock after buying an additional 189,066 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.17% of Copart worth $86,696,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in Copart by 2.5% during the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock worth $2,037,130,000 after acquiring an additional 941,858 shares during the period. State Street Corp grew its stake in shares of Copart by 0.4% during the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider's stock worth $1,789,877,000 after purchasing an additional 120,939 shares during the period. Edgewood Management LLC boosted its holdings in Copart by 0.6% during the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider's stock worth $1,077,119,000 after buying an additional 125,220 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Copart by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider's stock valued at $867,017,000 after buying an additional 1,199,781 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Copart by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider's stock worth $427,807,000 after acquiring an additional 30,454 shares during the period. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Transactions at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 9.68% of the company's stock.

Copart Stock Performance

Shares of CPRT traded up $0.17 during mid-day trading on Monday, hitting $62.08. 2,906,421 shares of the company were exchanged, compared to its average volume of 4,543,406. The stock has a market cap of $59.82 billion, a price-to-earnings ratio of 43.72 and a beta of 1.31. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $64.38. The company has a 50 day moving average of $56.07 and a 200-day moving average of $53.76.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, meeting analysts' consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The business's revenue was up 12.4% compared to the same quarter last year. Research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CPRT. Robert W. Baird reduced their price target on Copart from $58.00 to $56.00 and set an "outperform" rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. upped their target price on Copart from $55.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th.

Copart 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.