Nomura Asset Management Co. Ltd. Cuts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Nomura Asset Management Co. Ltd. lessened its holdings in Copart, Inc. (NASDAQ:CPRT) by 17.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,370,456 shares of the business services provider’s stock after selling 284,052 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.14% of Copart worth $78,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Sandy Spring Bank lifted its holdings in shares of Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the period. Quarry LP purchased a new position in Copart in the third quarter worth $29,000. True Wealth Design LLC lifted its holdings in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 608 shares during the period. Curio Wealth LLC purchased a new stake in Copart during the fourth quarter worth about $52,000. Finally, Continuum Advisory LLC grew its holdings in shares of Copart by 88.6% in the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after acquiring an additional 452 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Price Performance

Shares of NASDAQ CPRT opened at $55.64 on Friday. The firm’s 50-day moving average is $56.36 and its two-hundred day moving average is $56.10. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The company has a market capitalization of $53.75 billion, a PE ratio of 37.34 and a beta of 1.30.

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. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. On average, analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity at Copart

In other news, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the company’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. Insiders have sold a total of 385,480 shares of company stock valued at $21,667,683 over the last quarter. Insiders own 9.68% of the company’s stock.

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.