Sumitomo Mitsui Trust Group Inc. Boosts Holdings in Copart, Inc. (NASDAQ:CPRT)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,066,078 shares of the business services provider’s stock after purchasing an additional 40,505 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Copart were worth $108,262,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Optimum Investment Advisors increased its holdings in Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank purchased a new position in Copart during the 3rd quarter valued at about $29,000. Crewe Advisors LLC increased its holdings in Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 280 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Copart by 477.7% during the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 492 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Copart Price Performance

Shares of NASDAQ CPRT opened at $57.93 on Thursday. The company has a market cap of $55.81 billion, a PE ratio of 41.68 and a beta of 1.27. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $58.58. The company has a 50-day simple moving average of $52.69 and a 200-day simple moving average of $53.08.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts anticipate that Copart, Inc. will post 1.54 EPS for the current year.

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.