Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Position in Copart, Inc. (NASDAQ:CPRT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 186,407 shares of the business services provider’s stock after selling 4,223 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Copart were worth $10,698,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Teacher Retirement System of Texas raised its holdings in shares of Copart by 10.7% in the 4th quarter. Teacher Retirement System of Texas now owns 51,138 shares of the business services provider’s stock valued at $2,935,000 after acquiring an additional 4,949 shares in the last quarter. Sandy Spring Bank raised its holdings in shares of Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares in the last quarter. Royal London Asset Management Ltd. increased its position in shares of Copart by 1.6% during the 4th quarter. Royal London Asset Management Ltd. now owns 1,450,970 shares of the business services provider’s stock valued at $83,271,000 after purchasing an additional 22,928 shares during the last quarter. Harvest Fund Management Co. Ltd increased its position in shares of Copart by 27.9% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 56,718 shares of the business services provider’s stock valued at $3,197,000 after purchasing an additional 12,379 shares during the last quarter. Finally, Enhancing Capital LLC bought a new position in shares of Copart during the 4th quarter valued at about $567,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Down 0.4 %

Shares of Copart stock opened at $53.63 on Friday. The firm has a market capitalization of $51.81 billion, a PE ratio of 35.99 and a beta of 1.30. The business’s 50-day moving average price is $56.43 and its 200-day moving average price is $55.99. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. As a group, analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Copart news, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,480 shares of company stock valued at $23,407,983 in the last ninety days. Company insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Argus lowered Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

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.