New York State Common Retirement Fund Reduces Holdings in Copart, Inc. (NASDAQ:CPRT)

New York State Common Retirement Fund decreased its position in Copart, Inc. (NASDAQ:CPRT) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,110,291 shares of the business services provider’s stock after selling 98,164 shares during the period. New York State Common Retirement Fund owned 0.12% of Copart worth $54,404,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CPRT. Vanguard Group Inc. grew its position in shares of Copart by 100.6% in the 3rd quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after buying an additional 48,891,984 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Copart by 96.8% in the 3rd quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock valued at $1,715,114,000 after buying an additional 19,576,719 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Copart by 84.4% in the 3rd 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. grew its position in shares of Copart by 79.1% in the 3rd 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, FMR LLC grew its position in shares of Copart by 93.6% in the 3rd quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock valued at $634,882,000 after buying an additional 7,122,991 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Up 1.9 %

NASDAQ:CPRT opened at $54.31 on Wednesday. Copart, Inc. has a twelve month low of $38.35 and a twelve month high of $58.58. The company has a 50-day moving average of $54.50 and a 200-day moving average of $50.28. The firm has a market cap of $52.22 billion, a price-to-earnings ratio of 39.07 and a beta of 1.22.

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

Insider Transactions at Copart

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on CPRT. JPMorgan Chase & Co. raised their price objective on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.00.

Copart 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.