Resona Asset Management Co. Ltd. Invests $15.55 Million in Copart, Inc. (NASDAQ:CPRT)

Resona Asset Management Co. Ltd. bought a new stake in Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, Holdings Channel reports. The institutional investor bought 270,247 shares of the business services provider’s stock, valued at approximately $15,548,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Copart by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider’s stock valued at $5,861,185,000 after acquiring an additional 976,909 shares during the last quarter. Principal Financial Group Inc. raised its holdings in 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 lifted 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 buying an additional 120,939 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of 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 grew its position in shares of Copart by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider’s stock valued at $1,097,153,000 after buying an additional 408,677 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Argus cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Insider Transactions at Copart

In other Copart news, Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was 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. Insiders own 9.68% of the company’s stock.

Copart Trading Down 3.8 %

Shares of NASDAQ CPRT opened at $54.51 on Friday. The stock has a market cap of $52.66 billion, a P/E ratio of 36.58 and a beta of 1.22. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The stock has a 50 day moving average of $56.23 and a two-hundred day moving average of $56.42.

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

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.