Retirement Systems of Alabama Decreases Position in Copart, Inc. (NASDAQ:CPRT)

Retirement Systems of Alabama lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.1% during the third quarter, Holdings Channel reports. The fund owned 728,918 shares of the business services provider’s stock after selling 959 shares during the period. Retirement Systems of Alabama’s holdings in Copart were worth $38,195,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kinsale Capital Group Inc. raised its position in Copart by 17.7% in the 3rd quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock valued at $4,715,000 after purchasing an additional 13,554 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Copart in the second quarter valued at approximately $5,418,000. Anthracite Investment Company Inc. purchased a new position in Copart in the third quarter worth approximately $2,358,000. Meeder Asset Management Inc. grew its holdings in Copart by 15,096.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 87,380 shares of the business services provider’s stock worth $4,579,000 after acquiring an additional 86,805 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in Copart by 68.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 34,840 shares of the business services provider’s stock worth $1,887,000 after acquiring an additional 14,158 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Copart

In related news, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction dated 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 transaction, the director now 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.68% of the company’s stock.

Copart Price Performance

NASDAQ CPRT opened at $61.23 on Friday. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $64.38. The company has a market capitalization of $59.00 billion, a price-to-earnings ratio of 43.12 and a beta of 1.31. The firm’s fifty day moving average price is $57.01 and its 200 day moving average price is $54.03.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 EPS. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CPRT. JPMorgan Chase & Co. boosted their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Robert W. Baird lowered their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

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.