State of New Jersey Common Pension Fund D Grows Holdings in Copart, Inc. $CPRT

State of New Jersey Common Pension Fund D raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 6.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 319,132 shares of the business services provider’s stock after purchasing an additional 18,525 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Copart were worth $14,351,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cloud Capital Management LLC purchased a new position in Copart in the third quarter worth about $25,000. Tripletail Wealth Management LLC bought a new stake in shares of Copart during the third quarter valued at approximately $27,000. LRI Investments LLC raised its holdings in Copart by 125.2% in the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after acquiring an additional 363 shares during the last quarter. Creekmur Asset Management LLC lifted its position in Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 574 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in Copart by 54.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the transaction, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. This trade represents a 30.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value 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 Stock Performance

CPRT stock opened at $37.49 on Tuesday. The company has a market cap of $36.29 billion, a price-to-earnings ratio of 22.86 and a beta of 1.08. The business’s 50-day moving average is $39.56 and its two-hundred day moving average is $42.78. Copart, Inc. has a fifty-two week low of $36.52 and a fifty-two week high of $63.85.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.18 billion. Copart had a net margin of 34.24% and a return on equity of 17.78%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.37 EPS. Equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. CJS Securities upgraded Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Robert W. Baird lowered their target price on shares of Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. JPMorgan Chase & Co. dropped their price target on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, November 24th. Finally, Barclays reissued an “underweight” rating and set a $33.00 price objective (up from $32.00) on shares of Copart in a report on Friday, November 21st. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.60.

Copart 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.