Daiwa Securities Group Inc. Increases Stock Position in Copart, Inc. (NASDAQ:CPRT)

Daiwa Securities Group Inc. lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 9.0% in the third quarter, HoldingsChannel reports. The firm owned 229,882 shares of the business services provider’s stock after acquiring an additional 18,923 shares during the period. Daiwa Securities Group Inc.’s holdings in Copart were worth $12,046,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Optimum Investment Advisors raised its holdings in shares of Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after acquiring an additional 300 shares during the last quarter. Eastern Bank acquired a new stake in shares of Copart during the 3rd quarter worth about $29,000. Crewe Advisors LLC grew its holdings in shares of Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after buying an additional 280 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after buying an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after buying an additional 492 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Up 10.2 %

Shares of NASDAQ CPRT opened at $62.70 on Monday. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $62.90. The stock has a market capitalization of $60.40 billion, a PE ratio of 44.15 and a beta of 1.27. The firm has a fifty day moving average of $53.79 and a 200-day moving average of $53.18.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned $0.34 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Equities research analysts expect that Copart, Inc. will post 1.55 EPS for the current fiscal year.

Analysts Set New Price Targets

CPRT has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. 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 research report on Thursday, September 5th.

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.