Mitsubishi UFJ Asset Management Co. Ltd. Acquires 86,652 Shares of Copart, Inc. (NASDAQ:CPRT)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 6.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,539,807 shares of the business services provider’s stock after acquiring an additional 86,652 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Copart were worth $87,630,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Madison Investment Advisors LLC purchased a new stake in Copart in the fourth quarter valued at approximately $253,686,000. Bank of New York Mellon Corp raised its position in shares of Copart by 23.3% during 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. Franklin Resources Inc. lifted its holdings in shares of Copart by 335.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after acquiring an additional 2,084,626 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Copart in the fourth quarter worth $69,162,000. Finally, Amundi lifted its stake in Copart by 18.2% during the fourth quarter. Amundi now owns 7,080,834 shares of the business services provider’s stock worth $402,332,000 after purchasing an additional 1,090,841 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Copart news, Director James E. Meeks sold 100,000 shares of the firm’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 document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $2,883,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 385,480 shares of company stock worth $21,667,683 in the last ninety days. 9.68% of the stock is owned by insiders.

Copart Stock Performance

Shares of Copart stock opened at $55.64 on Friday. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The company has a fifty day moving average of $56.36 and a 200-day moving average of $56.10. The stock has a market capitalization of $53.75 billion, a price-to-earnings ratio of 37.34 and a beta of 1.30.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. On average, equities research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal 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.