FUKOKU MUTUAL LIFE INSURANCE Co Trims Stake in Copart, Inc. $CPRT

FUKOKU MUTUAL LIFE INSURANCE Co lowered its position in Copart, Inc. (NASDAQ:CPRT) by 23.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,175 shares of the business services provider’s stock after selling 1,595 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Copart were worth $254,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CPRT. Nuveen LLC bought a new position in Copart in the first quarter worth $267,723,000. Fiera Capital Corp boosted its holdings in shares of Copart by 75.3% during the 2nd quarter. Fiera Capital Corp now owns 7,000,430 shares of the business services provider’s stock valued at $343,511,000 after buying an additional 3,007,820 shares in the last quarter. PineStone Asset Management Inc. grew its position in shares of Copart by 56.4% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider’s stock worth $314,415,000 after buying an additional 2,310,067 shares during the period. Amundi increased its stake in shares of Copart by 32.5% in the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock worth $531,256,000 after acquiring an additional 2,299,192 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Copart by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 106,408,868 shares of the business services provider’s stock valued at $5,221,483,000 after acquiring an additional 2,144,946 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CPRT has been the subject of a number of analyst reports. Barclays reaffirmed an “underweight” rating on shares of Copart in a research note on Friday. Stephens reduced their price objective on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, September 5th. HSBC set a $62.00 target price on Copart and gave the stock a “buy” rating in a report on Thursday, September 4th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $50.00.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $41.02 on Friday. Copart, Inc. has a 1 year low of $39.58 and a 1 year high of $64.38. The company has a market cap of $39.70 billion, a P/E ratio of 25.64 and a beta of 1.06. The stock’s fifty day moving average price is $43.90 and its 200-day moving average price is $48.11.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.18 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.Copart’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.37 EPS. On average, sell-side 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 24,283 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the transaction, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The SEC filing for this sale provides additional information. 9.60% of the stock is owned by insiders.

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.