Copart, Inc. (NASDAQ:CPRT) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 3.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,418 shares of the business services provider’s stock after selling 2,680 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Copart were worth $3,646,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CPRT. Vanguard Group Inc. boosted its stake in Copart by 100.6% in the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after acquiring an additional 48,891,984 shares during the period. Norges Bank bought a new stake in shares of Copart during the fourth quarter valued at approximately $463,262,000. Wellington Management Group LLP raised its holdings in shares of Copart by 84.4% during the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after buying an additional 8,205,757 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Copart by 79.1% during the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock valued at $748,006,000 after buying an additional 7,666,881 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Copart by 102.2% during the third quarter. Morgan Stanley now owns 9,725,148 shares of the business services provider’s stock valued at $419,057,000 after buying an additional 4,915,348 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. 10.23% of the stock is currently owned by company insiders.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $54.86 on Wednesday. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58. The stock has a market cap of $52.79 billion, a price-to-earnings ratio of 38.51 and a beta of 1.26. The stock’s 50 day moving average price is $54.30 and its 200 day moving average price is $52.26.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, May 16th. The business services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 earnings per share. On average, sell-side analysts expect that Copart, Inc. will post 1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, April 8th. StockNews.com cut Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $51.00.

Copart Company Profile

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.