Public Employees Retirement System of Ohio Takes $7.09 Million Position in Copart, Inc. $CPRT

Public Employees Retirement System of Ohio purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 251,439 shares of the business services provider’s stock, valued at approximately $7,088,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. C M Bidwell & Associates Ltd. acquired a new position in Copart during the second quarter worth $25,000. Versant Capital Management Inc grew its holdings in Copart by 110.9% in the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 498 shares during the last quarter. Cache Advisors LLC purchased a new position in shares of Copart in the first quarter valued at $31,000. Compass Financial Management LLC purchased a new position in shares of Copart in the second quarter valued at $33,000. Finally, Reflection Asset Management acquired a new position in shares of Copart during the 4th quarter worth $34,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Stephens reaffirmed an “equal weight” rating and issued a $35.00 price target on shares of Copart in a report on Thursday, August 20th. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Barclays set a $25.00 price objective on shares of Copart and gave the stock an “underweight” rating in a research note on Wednesday, August 26th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Copart has a consensus rating of “Hold” and an average price target of $41.50.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Copart Stock Down 1.6%

CPRT opened at $32.47 on Wednesday. The firm has a market cap of $30.06 billion, a P/E ratio of 20.17, a PEG ratio of 1.99 and a beta of 1.03. The business’s fifty day simple moving average is $29.90 and its 200 day simple moving average is $32.31. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11.

About Copart

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.