Retirement Systems of Alabama Sells 1,626 Shares of Copart, Inc. (NASDAQ:CPRT)

Retirement Systems of Alabama cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 727,292 shares of the business services provider’s stock after selling 1,626 shares during the quarter. Retirement Systems of Alabama owned about 0.08% of Copart worth $41,739,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CPRT. Jensen Investment Management Inc. boosted its holdings in Copart by 2,466.0% in the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after acquiring an additional 3,398,423 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Copart by 462.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock worth $192,240,000 after acquiring an additional 3,016,795 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Copart by 335.8% in the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after acquiring an additional 2,084,626 shares in the last quarter. Comgest Global Investors S.A.S. boosted its holdings in Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock worth $83,153,000 after acquiring an additional 1,390,146 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Copart by 1,103.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,062,931 shares of the business services provider’s stock worth $55,698,000 after acquiring an additional 974,585 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $57.86 on Wednesday. The company has a market cap of $55.75 billion, a P/E ratio of 40.75 and a beta of 1.33. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The stock’s fifty day moving average price is $58.88 and its 200-day moving average price is $55.03.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. On average, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity

In related news, Director Thomas N. Tryforos sold 83,310 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the completion of the sale, the director now owns 7,850 shares in the company, valued at approximately $485,601. This represents a 91.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 650,213 shares of company stock valued at $39,199,813 over the last ninety days. 9.68% of the stock is currently owned by corporate insiders.

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.