Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 62.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 164,138 shares of the business services provider’s stock after selling 268,726 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.07% of Copart worth $8,458,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE raised its stake in Copart by 1.2% in the second quarter. Bank of America Corp DE now owns 1,441,175 shares of the business services provider’s stock worth $81,512,000 after buying an additional 16,905 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Copart by 88.2% during the third quarter. Bank of Montreal Can now owns 214,279 shares of the business services provider’s stock valued at $11,042,000 after buying an additional 100,420 shares during the last quarter. United Services Automobile Association boosted its holdings in Copart by 161.5% in the second quarter. United Services Automobile Association now owns 85,521 shares of the business services provider’s stock valued at $4,837,000 after purchasing an additional 52,813 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Copart by 62.9% in the second quarter. Schroder Investment Management Group now owns 516,749 shares of the business services provider’s stock valued at $28,944,000 after purchasing an additional 199,533 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its holdings in Copart by 119.4% in the second quarter. Moneta Group Investment Advisors LLC now owns 3,400 shares of the business services provider’s stock valued at $192,000 after purchasing an additional 1,850 shares during the last quarter. Institutional investors own 79.49% of the company’s stock.

Several research firms recently weighed in on CPRT. BidaskClub downgraded shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. SunTrust Banks set a $63.00 price target on shares of Copart and gave the company a “buy” rating in a research note on Friday, November 23rd. ValuEngine cut shares of Copart from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. JPMorgan Chase & Co. cut shares of Copart from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $48.00 to $47.00 in a research report on Friday, September 21st. Finally, Zacks Investment Research lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Friday, September 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $55.14.

Copart stock opened at $49.04 on Friday. Copart, Inc. has a 1 year low of $39.21 and a 1 year high of $67.08. The company has a market capitalization of $11.53 billion, a P/E ratio of 28.35, a P/E/G ratio of 1.01 and a beta of 1.00. The company has a quick ratio of 2.92, a current ratio of 3.00 and a debt-to-equity ratio of 0.24.

Copart (NASDAQ:CPRT) last announced its earnings results on Tuesday, November 20th. The business services provider reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $461.40 million during the quarter, compared to the consensus estimate of $460.09 million. Copart had a net margin of 24.59% and a return on equity of 29.95%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. On average, research analysts predict that Copart, Inc. will post 2.11 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Mitsubishi UFJ Trust & Banking Corp Has $8.46 Million Stake in Copart, Inc. (CPRT)” was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.watchlistnews.com/mitsubishi-ufj-trust-banking-corp-has-8-46-million-stake-in-copart-inc-cprt/2667667.html.

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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.

Featured Story: What do investors mean by earnings per share?

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

Receive News & Ratings for Copart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart and related companies with MarketBeat.com's FREE daily email newsletter.