Arizona State Retirement System Buys 2,349 Shares of Copart, Inc. (NASDAQ:CPRT)

Arizona State Retirement System raised its stake in Copart, Inc. (NASDAQ:CPRT) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 236,808 shares of the business services provider’s stock after acquiring an additional 2,349 shares during the quarter. Arizona State Retirement System’s holdings in Copart were worth $11,604,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CPRT. OFI Invest Asset Management bought a new position in Copart in the 3rd quarter valued at approximately $25,000. Manchester Capital Management LLC raised its holdings in Copart by 101.0% in the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock valued at $27,000 after buying an additional 314 shares during the last quarter. Quarry LP bought a new position in Copart in the 1st quarter valued at approximately $29,000. Bell Investment Advisors Inc raised its holdings in Copart by 87.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock valued at $30,000 after buying an additional 323 shares during the last quarter. Finally, Annapolis Financial Services LLC raised its holdings in Copart by 100.0% in the 3rd quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock valued at $31,000 after buying an additional 360 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CPRT. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. initiated coverage on shares of Copart in a research report on Tuesday, February 27th. They set a “neutral” rating and a $48.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.00.

Copart Stock Up 1.5 %

NASDAQ:CPRT opened at $56.55 on Friday. The company has a fifty day moving average of $53.31 and a 200-day moving average of $49.24. The firm has a market capitalization of $54.37 billion, a P/E ratio of 40.68 and a beta of 1.22. Copart, Inc. has a twelve month low of $36.78 and a twelve month high of $58.58.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 EPS. On average, analysts anticipate that Copart, Inc. will post 1.42 EPS for the current fiscal year.

Insider Activity

In other news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction 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 completion of the sale, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Copart news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. Insiders sold 985,000 shares of company stock worth $55,519,950 in the last quarter. 10.23% of the stock is owned by corporate insiders.

About Copart

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.