Employees Retirement System of Texas grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 85.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,000 shares of the business services provider’s stock after purchasing an additional 76,000 shares during the period. Employees Retirement System of Texas owned approximately 0.07% of Copart worth $5,245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp bought a new stake in shares of Copart during the 2nd quarter worth $1,418,000. Principal Financial Group Inc. lifted its holdings in shares of Copart by 106.5% during the 2nd quarter. Principal Financial Group Inc. now owns 7,417,734 shares of the business services provider’s stock worth $235,810,000 after acquiring an additional 3,826,242 shares during the last quarter. Capital Fund Management S.A. bought a new stake in shares of Copart during the 2nd quarter worth $4,179,000. BlueCrest Capital Management Ltd bought a new stake in shares of Copart during the 1st quarter worth $254,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Copart by 127.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,556,532 shares of the business services provider’s stock worth $208,433,000 after acquiring an additional 3,672,956 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

A number of analysts have recently issued reports on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $33.00 price objective on shares of Copart in a report on Thursday, July 6th. Robert W. Baird lifted their price objective on shares of Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, September 21st. Zacks Investment Research downgraded shares of Copart from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, CJS Securities reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Copart in a report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Copart has an average rating of “Hold” and a consensus target price of $37.33.

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Shares of Copart, Inc. (NASDAQ CPRT) opened at 35.18 on Friday. Copart, Inc. has a 12-month low of $25.37 and a 12-month high of $35.29. The company has a market capitalization of $8.12 billion, a P/E ratio of 21.19 and a beta of 1.19. The stock’s 50 day moving average is $32.94 and its 200-day moving average is $34.90.

Copart (NASDAQ:CPRT) last posted its earnings results on Tuesday, September 19th. The business services provider reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.04. The company had revenue of $378.60 million during the quarter, compared to analysts’ expectations of $355.42 million. Copart had a net margin of 27.23% and a return on equity of 31.83%. Copart’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company posted $0.31 earnings per share. Analysts anticipate that Copart, Inc. will post $1.43 earnings per share for the current year.

In other Copart news, Director James E. Meeks sold 160,000 shares of Copart stock in a transaction on Friday, September 29th. The shares were sold at an average price of $34.33, for a total value of $5,492,800.00. Following the completion of the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $120,155. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Vincent W. Mitz sold 200,000 shares of Copart stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the completion of the transaction, the president now directly owns 47,660 shares of the company’s stock, valued at $1,635,691.20. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.

Copart Profile

Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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