Retirement Systems of Alabama lessened its position in Copart, Inc. (NASDAQ:CPRT) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 486,017 shares of the business services provider’s stock after selling 19,014 shares during the quarter. Retirement Systems of Alabama owned about 0.21% of Copart worth $16,704,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sei Investments Co. increased its holdings in shares of Copart by 3.2% in the third quarter. Sei Investments Co. now owns 44,899 shares of the business services provider’s stock valued at $1,544,000 after purchasing an additional 1,382 shares during the last quarter. Candriam Luxembourg S.C.A. increased its holdings in shares of Copart by 123.3% in the third quarter. Candriam Luxembourg S.C.A. now owns 226,943 shares of the business services provider’s stock valued at $7,800,000 after purchasing an additional 125,327 shares during the last quarter. Swiss National Bank increased its holdings in shares of Copart by 0.8% in the third quarter. Swiss National Bank now owns 346,700 shares of the business services provider’s stock valued at $11,916,000 after purchasing an additional 2,900 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of Copart in the third quarter valued at approximately $4,345,000. Finally, West Coast Financial LLC increased its holdings in shares of Copart by 2.7% in the third quarter. West Coast Financial LLC now owns 145,332 shares of the business services provider’s stock valued at $4,995,000 after purchasing an additional 3,820 shares during the last quarter. Institutional investors and hedge funds own 78.71% of the company’s stock.
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Shares of Copart, Inc. (CPRT) opened at $35.95 on Thursday. Copart, Inc. has a one year low of $26.48 and a one year high of $36.76. The company has a quick ratio of 1.91, a current ratio of 1.94 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $8,293.76, a price-to-earnings ratio of 27.71, a PEG ratio of 1.33 and a beta of 1.24.
Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Tuesday, September 19th. The business services provider reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.04. Copart had a return on equity of 31.83% and a net margin of 27.23%. The business had revenue of $378.60 million during the quarter, compared to analysts’ expectations of $355.42 million. During the same period in the previous year, the firm posted $0.31 earnings per share. The company’s revenue was up 13.8% on a year-over-year basis. sell-side analysts predict that Copart, Inc. will post 1.41 EPS for the current fiscal year.
Several research firms recently commented on CPRT. CJS Securities reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Copart in a report on Thursday, October 5th. Wolfe Research began coverage on Copart in a report on Tuesday, November 7th. They issued a “market perform” rating for the company. Robert W. Baird increased their price target on Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Finally, Zacks Investment Research cut Copart from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.33.
In related news, Director James E. Meeks sold 160,000 shares of Copart stock in a transaction on Friday, September 29th. The stock was sold at an average price of $34.33, for a total value of $5,492,800.00. Following the completion of the transaction, the director now directly owns 3,500 shares in the company, valued at $120,155. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Vincent W. Mitz sold 200,000 shares of Copart stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $34.32, for a total value of $6,864,000.00. Following the completion of the transaction, the president now owns 47,660 shares of the company’s stock, valued at $1,635,691.20. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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