Tokio Marine Asset Management Co. Ltd. Raises Holdings in Copart, Inc. (NASDAQ:CPRT)

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its stake in Copart, Inc. by 6.2%, owning 587,390 shares, which constituted about 1.2% of its investment portfolio.
• Copart's recent earnings report revealed an EPS of $0.42, meeting analyst expectations, with revenue of $1.21 billion, slightly below predictions.
• Wall Street analysts adjusted their price targets for Copart, with Robert W. Baird lowering its target from $64.00 to $55.00 while maintaining an "outperform" rating.

Tokio Marine Asset Management Co. Ltd. boosted its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 587,390 shares of the business services provider's stock after purchasing an additional 34,544 shares during the period. Copart comprises 1.2% of Tokio Marine Asset Management Co. Ltd.'s holdings, making the stock its 15th largest position. Tokio Marine Asset Management Co. Ltd. owned approximately 0.06% of Copart worth $33,240,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Copart by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock valued at $5,900,295,000 after buying an additional 2,134,890 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Copart by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock valued at $2,230,177,000 after buying an additional 1,249,687 shares during the last quarter. Capital World Investors lifted its position in shares of Copart by 0.8% during the 4th quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock valued at $1,225,502,000 after buying an additional 169,354 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Copart by 15.9% during the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock valued at $868,417,000 after buying an additional 2,106,656 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Copart by 7.5% during the 1st quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider's stock valued at $537,052,000 after purchasing an additional 658,329 shares during the period. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Price Performance

NASDAQ CPRT traded up $0.22 during trading on Friday, reaching $47.08. The company's stock had a trading volume of 4,688,357 shares, compared to its average volume of 5,882,411. The stock has a market capitalization of $45.52 billion, a PE ratio of 30.97 and a beta of 1.04. The firm has a fifty day moving average of $47.55 and a 200 day moving average of $53.88. Copart, Inc. has a one year low of $45.05 and a one year high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting analysts' consensus estimates of $0.42. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 EPS. Research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of analyst reports. Stephens initiated coverage on Copart in a research note on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price objective on the stock. Robert W. Baird decreased their price objective on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. decreased their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.68% of the company's stock.

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.