Illinois Municipal Retirement Fund Has $10.29 Million Position in Copart, Inc. (NASDAQ:CPRT)

Illinois Municipal Retirement Fund lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 57.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 209,929 shares of the business services provider’s stock after purchasing an additional 76,764 shares during the period. Illinois Municipal Retirement Fund’s holdings in Copart were worth $10,287,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB increased its holdings in shares of Copart by 64.1% in the fourth quarter. Nordea Investment Management AB now owns 1,441,839 shares of the business services provider’s stock valued at $70,448,000 after purchasing an additional 563,233 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Copart by 1.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,848,048 shares of the business services provider’s stock worth $139,554,000 after acquiring an additional 44,248 shares during the period. CHURCHILL MANAGEMENT Corp grew its holdings in Copart by 57.9% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 63,521 shares of the business services provider’s stock worth $3,113,000 after acquiring an additional 23,304 shares during the period. Artemis Investment Management LLP grew its holdings in Copart by 29.0% during the 4th quarter. Artemis Investment Management LLP now owns 1,167,186 shares of the business services provider’s stock worth $57,193,000 after acquiring an additional 262,499 shares during the period. Finally, Checchi Capital Advisers LLC grew its holdings in Copart by 72.5% during the 3rd quarter. Checchi Capital Advisers LLC now owns 6,228 shares of the business services provider’s stock worth $268,000 after acquiring an additional 2,618 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Up 1.3 %

Shares of CPRT stock traded up $0.71 on Tuesday, hitting $54.01. The stock had a trading volume of 1,021,377 shares, compared to its average volume of 4,575,371. Copart, Inc. has a twelve month low of $38.35 and a twelve month high of $58.58. The firm has a market cap of $51.93 billion, a P/E ratio of 38.35 and a beta of 1.22. The company has a fifty day moving average price of $54.40 and a two-hundred day moving average price of $50.21.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 earnings per share. On average, analysts expect that Copart, Inc. will post 1.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CPRT. JPMorgan Chase & Co. lifted their target price on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $51.00.

Insider Activity at Copart

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the sale, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 985,000 shares of company stock valued at $55,519,950. 10.23% of the stock is owned by corporate insiders.

About Copart

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.