Nissay Asset Management Corp Japan ADV Has $13.01 Million Holdings in Copart, Inc. $CPRT

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in Copart, Inc. by 10.4%, now owning 229,890 shares valued at approximately $13 million.
• Several analysts have adjusted their target prices for Copart, with HSBC setting a target of $62.00 while Stephens reduced it to $46.00, reflecting varied outlooks on the stock.
• Copart reported earnings per share of $0.41 for its last quarter, exceeding the consensus estimate, and had a year-over-year revenue increase of 2.9%.

Nissay Asset Management Corp Japan ADV grew its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 10.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 229,890 shares of the business services provider's stock after acquiring an additional 21,592 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Copart were worth $13,009,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cloud Capital Management LLC bought a new stake in shares of Copart in the 1st quarter valued at about $26,000. Sunbelt Securities Inc. acquired a new stake in Copart during the 4th quarter worth approximately $31,000. Accent Capital Management LLC acquired a new stake in Copart during the 1st quarter worth approximately $36,000. Financial Network Wealth Advisors LLC lifted its stake in Copart by 152.6% in the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock valued at $44,000 after buying an additional 473 shares in the last quarter. Finally, SouthState Corp bought a new position in Copart in the first quarter valued at approximately $45,000. 85.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CPRT has been the topic of a number of research reports. HSBC set a $62.00 price target on shares of Copart and gave the company a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. cut their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Robert W. Baird cut their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Finally, Stephens reduced their price target on Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Copart currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.50.

Copart Price Performance

NASDAQ:CPRT traded up $0.18 during trading hours on Monday, reaching $48.75. 12,156,731 shares of the stock were exchanged, compared to its average volume of 6,181,600. Copart, Inc. has a twelve month low of $45.05 and a twelve month high of $64.38. The firm has a 50 day moving average of $47.46 and a 200 day moving average of $52.67. The stock has a market cap of $47.14 billion, a PE ratio of 30.47 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 EPS. Equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the sale, the chief executive officer owned 31,527 shares of the company's stock, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.68% of the company's stock.

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.