Meiji Yasuda Asset Management Co Ltd. Grows Holdings in Copart, Inc. (NASDAQ:CPRT)

Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 6.5% during the 4th quarter, HoldingsChannel reports. The fund owned 13,634 shares of the business services provider’s stock after purchasing an additional 829 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Copart were worth $782,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Copart by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider’s stock worth $5,861,185,000 after acquiring an additional 976,909 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Copart by 2.5% during the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after purchasing an additional 941,858 shares in the last quarter. State Street Corp raised its position in shares of Copart by 0.4% during the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock worth $1,789,877,000 after purchasing an additional 120,939 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Copart by 23.3% in the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock valued at $1,115,664,000 after buying an additional 3,667,534 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Copart by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock worth $979,547,000 after buying an additional 291,580 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Copart news, Director Matt Blunt sold 50,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 385,480 shares of company stock valued at $21,667,683. 9.68% of the stock is currently owned by company insiders.

Copart Stock Performance

NASDAQ CPRT opened at $55.64 on Friday. The stock’s fifty day moving average is $56.36 and its two-hundred day moving average is $56.10. The firm has a market capitalization of $53.75 billion, a P/E ratio of 37.34 and a beta of 1.30. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Argus lowered Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

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.