Copart, Inc. (NASDAQ:CPRT) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,005 shares of the business services provider’s stock after selling 4,927 shares during the quarter. Kentucky Retirement Systems’ holdings in Copart were worth $3,197,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of CPRT. Optimum Investment Advisors raised its stake in Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank purchased a new position in shares of Copart during the third quarter worth approximately $29,000. Crewe Advisors LLC increased its stake in Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 280 shares during the period. Meeder Asset Management Inc. raised its stake in Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after purchasing an additional 492 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird decreased their price target on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

Copart Stock Performance

Copart stock opened at $56.67 on Friday. The company has a market cap of $54.59 billion, a price-to-earnings ratio of 40.77 and a beta of 1.27. The firm has a 50 day moving average price of $52.99 and a 200 day moving average price of $53.10. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS. Sell-side analysts predict that Copart, Inc. will post 1.54 EPS for the current year.

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.