Tokio Marine Asset Management Co. Ltd. Has $21.60 Million Stock Position in Copart, Inc. (NASDAQ:CPRT)

Tokio Marine Asset Management Co. Ltd. grew its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 33.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 412,171 shares of the business services provider's stock after acquiring an additional 103,700 shares during the quarter. Copart accounts for about 0.9% of Tokio Marine Asset Management Co. Ltd.'s holdings, making the stock its 23rd largest position. Tokio Marine Asset Management Co. Ltd.'s holdings in Copart were worth $21,598,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock worth $2,037,130,000 after buying an additional 941,858 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Copart by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider's stock worth $867,017,000 after acquiring an additional 1,199,781 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Copart by 0.4% during 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 in the last quarter. Legal & General Group Plc lifted its holdings in Copart by 9.4% during the second quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider's stock worth $376,035,000 after acquiring an additional 598,566 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Copart by 28.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider's stock worth $397,406,000 after acquiring an additional 1,500,466 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reduced their target price on Copart from $58.00 to $56.00 and set an "outperform" rating on the stock in a report on Thursday, September 5th.

Copart Price Performance

Shares of CPRT traded down $0.59 during midday trading on Thursday, hitting $57.34. The stock had a trading volume of 3,226,197 shares, compared to its average volume of 4,399,579. The company has a 50 day simple moving average of $52.69 and a two-hundred day simple moving average of $53.08. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $58.58. The firm has a market cap of $55.24 billion, a price-to-earnings ratio of 41.57 and a beta of 1.27.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly 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 net margin of 32.17% and a return on equity of 19.55%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business earned $0.34 EPS. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts forecast that Copart, Inc. will post 1.54 EPS for the current fiscal 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.