Dai ichi Life Insurance Company Ltd Sells 29,408 Shares of Copart, Inc. (NASDAQ:CPRT)

Dai ichi Life Insurance Company Ltd reduced its holdings in Copart, Inc. (NASDAQ:CPRT) by 64.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 16,316 shares of the business services provider’s stock after selling 29,408 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Copart were worth $884,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRT. Cadence Bank increased its stake in Copart by 0.6% in the first quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock valued at $1,817,000 after purchasing an additional 187 shares in the last quarter. WASHINGTON TRUST Co lifted its holdings in Copart by 0.3% during the second quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock worth $3,350,000 after acquiring an additional 200 shares in the last quarter. Spinnaker Trust grew its stake in Copart by 4.0% in the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock valued at $283,000 after acquiring an additional 200 shares during the period. Values First Advisors Inc. raised its position in shares of Copart by 2.9% during the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock worth $384,000 after purchasing an additional 201 shares during the period. Finally, Burney Co. increased its position in shares of Copart by 1.4% during the second quarter. Burney Co. now owns 15,001 shares of the business services provider’s stock worth $812,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $49.75 on Tuesday. The company has a market capitalization of $47.87 billion, a P/E ratio of 35.04 and a beta of 1.27. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58. The company has a 50-day simple moving average of $51.75 and a 200 day simple moving average of $53.78.

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

Analysts Set New Price Targets

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

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.