California Public Employees Retirement System Decreases Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

California Public Employees Retirement System lowered its position in Copart, Inc. (NASDAQ:CPRT) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,612,709 shares of the business services provider’s stock after selling 44,985 shares during the quarter. California Public Employees Retirement System owned about 0.17% of Copart worth $79,023,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CPRT. AE Wealth Management LLC raised its stake in shares of Copart by 90.9% in the third quarter. AE Wealth Management LLC now owns 19,503 shares of the business services provider’s stock valued at $840,000 after acquiring an additional 9,287 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Copart by 94.8% in the third quarter. State of Alaska Department of Revenue now owns 116,883 shares of the business services provider’s stock valued at $5,035,000 after acquiring an additional 56,894 shares during the period. Capital Investment Advisors LLC purchased a new stake in shares of Copart in the third quarter valued at $277,000. Flagship Harbor Advisors LLC raised its stake in shares of Copart by 112.3% in the third quarter. Flagship Harbor Advisors LLC now owns 6,389 shares of the business services provider’s stock valued at $275,000 after acquiring an additional 3,380 shares during the period. Finally, DAVENPORT & Co LLC raised its stake in shares of Copart by 126.2% in the third quarter. DAVENPORT & Co LLC now owns 17,772 shares of the business services provider’s stock valued at $766,000 after acquiring an additional 9,916 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insiders Place Their Bets

In other Copart news, Director Matt Blunt sold 100,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $1,934,450. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 985,000 shares of company stock worth $55,519,950 in the last three months. Corporate insiders own 10.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CPRT. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. upped their price target on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Copart presently has an average rating of “Hold” and an average price target of $51.00.

Copart Trading Up 1.1 %

NASDAQ CPRT opened at $54.93 on Thursday. The company’s 50-day moving average price is $54.62 and its 200-day moving average price is $50.31. The stock has a market cap of $52.82 billion, a PE ratio of 39.52 and a beta of 1.22. Copart, Inc. has a 12 month low of $38.35 and a 12 month high of $58.58.

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

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.