Sompo Asset Management Co. Ltd. Has $588,000 Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Sompo Asset Management Co. Ltd. reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 15.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,860 shares of the business services provider’s stock after selling 2,000 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Copart were worth $588,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CPRT. Rise Advisors LLC bought a new stake in Copart in the 1st quarter valued at approximately $28,000. Pinnacle Bancorp Inc. lifted its position in shares of Copart by 79.6% in the first quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after purchasing an additional 234 shares in the last quarter. Crewe Advisors LLC boosted its holdings in 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 purchasing an additional 280 shares during the last quarter. Meeder Asset Management Inc. grew its position in 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 purchasing an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in Copart by 477.7% in the 2nd 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 last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird reduced their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Copart Trading Down 0.7 %

NASDAQ CPRT opened at $51.44 on Friday. The company has a market cap of $49.50 billion, a PE ratio of 36.23 and a beta of 1.27. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58. The stock has a 50 day moving average of $51.47 and a 200-day moving average of $53.71.

Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts predict that Copart, Inc. will post 1.54 EPS for the current fiscal year.

About Copart

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.