Copart, Inc. $CPRT Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its stake in Copart, Inc. (NASDAQ:CPRT) by 1.3% in the 2nd quarter, Holdings Channel reports. The firm owned 710,794 shares of the business services provider’s stock after selling 9,039 shares during the quarter. Retirement Systems of Alabama’s holdings in Copart were worth $34,879,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new position in Copart in the first quarter valued at about $26,000. Atticus Wealth Management LLC purchased a new position in Copart in the 2nd quarter valued at approximately $31,000. Ameritas Advisory Services LLC acquired a new position in Copart during the second quarter worth $31,000. Accent Capital Management LLC acquired a new position in Copart during the first quarter worth $36,000. Finally, Bank of Jackson Hole Trust boosted 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 purchasing an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CPRT shares. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Stephens lowered their price target on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. Finally, HSBC set a $62.00 price objective on Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $42.48 on Friday. The firm has a market cap of $41.11 billion, a P/E ratio of 26.55 and a beta of 1.03. Copart, Inc. has a 1 year low of $42.26 and a 1 year high of $64.38. The firm’s 50 day moving average price is $46.05 and its 200 day moving average price is $50.07.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted $0.33 EPS. Copart’s revenue was up 2.9% on a year-over-year basis. As a group, equities analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity

In other news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the transaction, the chief executive officer directly owned 31,332 shares in the company, valued at $1,403,360.28. This represents a 43.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale is available in the SEC filing. Corporate insiders own 9.68% of the company’s stock.

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.