Public Employees Retirement System of Ohio Raises Stake in Copart, Inc. (NASDAQ:CPRT)

Public Employees Retirement System of Ohio increased its stake in shares of Copart, Inc. (NASDAQ:CPRTFree Report) by 58.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 368,481 shares of the business services provider’s stock after buying an additional 136,374 shares during the period. Public Employees Retirement System of Ohio’s holdings in Copart were worth $15,878,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CPRT. Vanguard Group Inc. raised its holdings 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 worth $4,201,821,000 after purchasing an additional 48,891,984 shares during the period. Principal Financial Group Inc. raised its stake in shares of Copart by 96.8% in the third 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 period. Wellington Management Group LLP grew its stake in shares of Copart by 84.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock worth $772,568,000 after acquiring an additional 8,205,757 shares during the period. JPMorgan Chase & Co. increased its holdings in Copart by 79.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock worth $748,006,000 after acquiring an additional 7,666,881 shares during the last quarter. Finally, FMR LLC raised its stake in 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 acquiring an additional 7,122,991 shares during the period. Institutional investors own 79.26% of the company’s stock.

Copart Trading Down 0.5 %

Shares of Copart stock opened at $56.13 on Friday. The company’s 50-day moving average price is $50.45 and its 200-day moving average price is $47.87. Copart, Inc. has a 12-month low of $33.90 and a 12-month high of $56.96. The company has a market cap of $53.97 billion, a price-to-earnings ratio of 40.38 and a beta of 1.22.

Copart (NASDAQ:CPRTGet Free Report) last posted its earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share 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 firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company posted $0.31 EPS. The business’s revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts predict that Copart, Inc. will post 1.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of Copart in a research report on Tuesday, February 27th. They set a “neutral” rating and a $48.00 target price for the company. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, HSBC assumed coverage on shares of Copart in a report on Monday, December 4th. They set a “hold” rating and a $51.00 target price on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.00.

View Our Latest Report on CPRT

Insider Transactions at Copart

In related news, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the sale, the director now owns 35,000 shares of the company’s stock, valued at $1,934,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the sale, the director now owns 35,000 shares of the company’s stock, valued at $1,934,450. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 705,000 shares of company stock valued at $35,910,750. 10.23% of the stock is currently owned by company insiders.

About Copart

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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