Oregon Public Employees Retirement Fund Grows Holdings in Copart, Inc. $CPRT

Oregon Public Employees Retirement Fund lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 33.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 101,675 shares of the business services provider’s stock after acquiring an additional 25,665 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Copart were worth $4,572,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Tripletail Wealth Management LLC purchased a new stake in shares of Copart in the 3rd quarter valued at $27,000. Atticus Wealth Management LLC bought a new stake in Copart in the second quarter worth $31,000. Ameritas Advisory Services LLC bought a new stake in Copart in the second quarter worth $31,000. Creekmur Asset Management LLC boosted its position in Copart by 1,063.0% during the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after buying an additional 574 shares during the period. Finally, Bank of Jackson Hole Trust grew its stake in shares of Copart by 83.8% during the second quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after buying an additional 335 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Up 2.0%

NASDAQ CPRT opened at $39.83 on Friday. The firm has a market capitalization of $38.56 billion, a PE ratio of 24.29 and a beta of 1.10. The stock’s 50 day moving average is $39.68 and its 200 day moving average is $44.13. Copart, Inc. has a twelve month low of $37.41 and a twelve month high of $63.85.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Copart had a net margin of 34.24% and a return on equity of 17.78%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. On average, research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. CJS Securities raised Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Barclays reiterated an “underweight” rating and set a $33.00 price target (up from $32.00) on shares of Copart in a report on Friday, November 21st. Finally, Robert W. Baird cut their price target on shares of Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.60.

Insider Buying and Selling

In other news, CEO Jeffrey Liaw sold 24,283 shares of Copart stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the sale, the chief executive officer directly owned 31,332 shares in the company, valued at $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas N. Tryforos sold 100,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The SEC filing for this sale provides additional information. 9.60% of the stock is owned by insiders.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.