Copart, Inc. (NASDAQ:CPRT) Holdings Lowered by Kentucky Retirement Systems

Kentucky Retirement Systems cut its stake in Copart, Inc. (NASDAQ:CPRT) by 1.4% in the 4th quarter, HoldingsChannel reports. The fund owned 60,177 shares of the business services provider’s stock after selling 828 shares during the period. Kentucky Retirement Systems’ holdings in Copart were worth $3,454,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CPRT. Suncoast Equity Management boosted its stake in Copart by 8.0% during the 4th quarter. Suncoast Equity Management now owns 30,220 shares of the business services provider’s stock valued at $1,734,000 after purchasing an additional 2,230 shares in the last quarter. Boston Financial Mangement LLC lifted its holdings in shares of Copart by 0.6% in the fourth quarter. Boston Financial Mangement LLC now owns 2,001,097 shares of the business services provider’s stock valued at $114,843,000 after buying an additional 11,106 shares during the period. Handelsbanken Fonder AB boosted its stake in Copart by 21.3% during the fourth quarter. Handelsbanken Fonder AB now owns 557,126 shares of the business services provider’s stock valued at $31,973,000 after buying an additional 97,875 shares in the last quarter. Ieq Capital LLC grew its holdings in Copart by 12.8% during the fourth quarter. Ieq Capital LLC now owns 113,573 shares of the business services provider’s stock worth $6,518,000 after acquiring an additional 12,928 shares during the period. Finally, Freedom Day Solutions LLC raised its position in Copart by 6.7% in the fourth quarter. Freedom Day Solutions LLC now owns 60,333 shares of the business services provider’s stock worth $3,463,000 after acquiring an additional 3,775 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Activity

In other news, Director Matt Blunt sold 50,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction that occurred 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 directly owns 7,850 shares of the company’s stock, valued at $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock worth $39,199,813 over the last 90 days. 9.68% of the stock is owned by company insiders.

Copart Stock Performance

NASDAQ CPRT opened at $56.61 on Friday. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The business’s fifty day moving average is $57.97 and its two-hundred day moving average is $55.65. The stock has a market capitalization of $54.55 billion, a P/E ratio of 39.87 and a beta of 1.33.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. On average, research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised their price objective on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th.

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.