New York State Common Retirement Fund Reduces Position in Copart, Inc. $CPRT

New York State Common Retirement Fund trimmed its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,063,581 shares of the business services provider’s stock after selling 26,238 shares during the quarter. New York State Common Retirement Fund’s holdings in Copart were worth $47,829,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tripletail Wealth Management LLC purchased a new position in Copart in the 3rd quarter worth approximately $27,000. Ameritas Advisory Services LLC acquired a new stake in shares of Copart in the second quarter valued at approximately $31,000. Creekmur Asset Management LLC increased its holdings in shares of Copart by 1,063.0% in the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 574 shares during the last quarter. Bank of Jackson Hole Trust lifted its position in Copart by 83.8% during the second quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after buying an additional 335 shares in the last quarter. Finally, GFG Capital LLC acquired a new position in Copart during the second quarter worth $37,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CPRT. JPMorgan Chase & Co. reduced their price target on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, November 24th. CJS Securities raised shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Barclays reaffirmed an “underweight” rating and set a $33.00 price target (up previously from $32.00) on shares of Copart in a research report on Friday, November 21st. Finally, Robert W. Baird lowered their price objective on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.60.

Copart Stock Performance

NASDAQ:CPRT opened at $40.58 on Friday. Copart, Inc. has a fifty-two week low of $37.41 and a fifty-two week high of $63.85. The company has a 50 day moving average price of $39.49 and a 200 day moving average price of $43.36. The stock has a market capitalization of $39.28 billion, a P/E ratio of 24.74 and a beta of 1.10.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Copart had a return on equity of 17.78% and a net margin of 34.24%.The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the business posted $0.37 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. Research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the transaction, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. The trade was a 30.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 9.60% of the company’s stock.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.