Mitsubishi UFJ Asset Management Co. Ltd. Has $88.47 Million Stock Holdings in Copart, Inc. $CPRT

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,967,409 shares of the business services provider’s stock after purchasing an additional 41,184 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.20% of Copart worth $88,474,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Copart by 13.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock valued at $16,711,000 after purchasing an additional 45,346 shares during the period. California Public Employees Retirement System boosted its stake in Copart by 89.0% during the second quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider’s stock worth $125,044,000 after buying an additional 1,200,035 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Copart by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock valued at $1,806,674,000 after buying an additional 1,236,101 shares during the period. Yacktman Asset Management LP acquired a new position in shares of Copart in the 3rd quarter valued at $3,382,000. Finally, Comgest Global Investors S.A.S. boosted its position in shares of Copart by 7.2% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock valued at $143,091,000 after acquiring an additional 212,520 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on CPRT. CJS Securities raised shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. decreased their price target on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Barclays restated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday. Finally, Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $44.40.

Copart Stock Performance

Shares of CPRT stock opened at $38.09 on Friday. Copart, Inc. has a 52 week low of $33.81 and a 52 week high of $63.85. The stock has a market capitalization of $36.87 billion, a PE ratio of 23.81 and a beta of 1.08. The stock’s fifty day moving average is $39.18 and its 200-day moving average is $42.23.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). Copart had a return on equity of 16.68% and a net margin of 33.76%.The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the company earned $0.40 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the sale, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 9.60% of the company’s stock.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.