New York State Teachers Retirement System Sells 16,306 Shares of Copart, Inc. $CPRT

New York State Teachers Retirement System cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 646,983 shares of the business services provider’s stock after selling 16,306 shares during the period. New York State Teachers Retirement System owned 0.07% of Copart worth $29,095,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Tripletail Wealth Management LLC bought a new stake in Copart in the 3rd quarter valued at $27,000. Atticus Wealth Management LLC bought a new stake in shares of Copart in the second quarter valued at about $31,000. Ameritas Advisory Services LLC acquired a new position in shares of Copart in the second quarter valued at about $31,000. Creekmur Asset Management LLC increased 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 worth $31,000 after acquiring an additional 574 shares during the period. Finally, Bank of Jackson Hole Trust raised its stake in Copart by 83.8% in the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after purchasing an additional 335 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Stock Performance

Shares of CPRT opened at $39.92 on Tuesday. Copart, Inc. has a 52-week low of $37.41 and a 52-week high of $63.85. The business’s fifty day moving average is $39.61 and its 200-day moving average is $44.05. The firm has a market cap of $38.64 billion, a price-to-earnings ratio of 24.34 and a beta of 1.10.

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 the consensus estimate of $0.39 by $0.02. Copart had a return on equity of 17.78% and a net margin of 34.24%.The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the company earned $0.37 EPS. Copart’s revenue for the quarter was up .7% on a year-over-year basis. As a group, research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. This represents a 43.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction that occurred 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 currently owned by corporate 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.