Commonwealth of Pennsylvania Public School Empls Retrmt SYS Trims Position in Copart, Inc. (NASDAQ:CPRT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 2.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 186,407 shares of the business services provider’s stock after selling 4,223 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Copart were worth $10,698,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Teacher Retirement System of Texas increased its stake in shares of Copart by 10.7% during the fourth quarter. Teacher Retirement System of Texas now owns 51,138 shares of the business services provider’s stock valued at $2,935,000 after buying an additional 4,949 shares during the period. Sandy Spring Bank boosted its position in shares of Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares in the last quarter. Royal London Asset Management Ltd. boosted its position in shares of Copart by 1.6% during the fourth quarter. Royal London Asset Management Ltd. now owns 1,450,970 shares of the business services provider’s stock valued at $83,271,000 after purchasing an additional 22,928 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of Copart by 27.9% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 56,718 shares of the business services provider’s stock valued at $3,197,000 after purchasing an additional 12,379 shares in the last quarter. Finally, Enhancing Capital LLC bought a new stake in shares of Copart during the fourth quarter valued at approximately $567,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Argus lowered Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Copart Stock Down 0.4 %

NASDAQ CPRT opened at $53.63 on Friday. The stock’s 50 day moving average is $56.43 and its 200 day moving average is $55.99. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The firm has a market capitalization of $51.81 billion, a PE ratio of 35.99 and a beta of 1.30.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. On average, research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In other Copart news, Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 415,480 shares of company stock valued at $23,407,983. 9.68% of the stock is currently owned by corporate insiders.

Copart Company 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.