Copart, Inc. (NASDAQ:CPRT) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 761,546 shares of the business services provider’s stock after selling 19,829 shares during the period. Retirement Systems of Alabama’s holdings in Copart were worth $37,316,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. boosted its stake in shares of Copart by 3.6% during the 4th quarter. First Citizens Bank & Trust Co. now owns 7,729 shares of the business services provider’s stock worth $379,000 after acquiring an additional 268 shares in the last quarter. BSW Wealth Partners boosted its stake in shares of Copart by 4.1% during the 4th quarter. BSW Wealth Partners now owns 6,972 shares of the business services provider’s stock worth $342,000 after acquiring an additional 277 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of Copart by 101.0% during the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after acquiring an additional 314 shares in the last quarter. Bell Investment Advisors Inc boosted its stake in shares of Copart by 87.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after acquiring an additional 323 shares in the last quarter. Finally, Annapolis Financial Services LLC boosted its stake in shares of Copart by 100.0% during the 3rd quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock worth $31,000 after acquiring an additional 360 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Stock Up 0.9 %

Shares of Copart stock opened at $55.73 on Monday. The stock has a market cap of $53.58 billion, a PE ratio of 40.09 and a beta of 1.22. The business has a fifty day simple moving average of $54.86 and a 200-day simple moving average of $50.48. Copart, Inc. has a 12 month low of $38.83 and a 12 month high of $58.58.

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

Wall Street Analyst Weigh In

CPRT has been the subject of several research reports. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. raised their target price on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $51.00.

Insider Buying and Selling

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

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.