Illinois Municipal Retirement Fund Has $7.74 Million Stock Holdings in Copart, Inc. $CPRT

Illinois Municipal Retirement Fund lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 24.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,170 shares of the business services provider’s stock after purchasing an additional 33,326 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Copart were worth $7,742,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CPRT. Cloud Capital Management LLC bought a new position in Copart during the third quarter worth about $25,000. Tripletail Wealth Management LLC acquired a new stake in shares of Copart during the third quarter worth about $27,000. LRI Investments LLC lifted its holdings in shares of Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 363 shares in the last quarter. Creekmur Asset Management LLC grew its position in shares of Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 574 shares during the period. Finally, Cornerstone Planning Group LLC grew its position in shares of Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 256 shares during the period. Institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In other news, Director Thomas N. Tryforos sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the transaction, the chief executive officer owned 55,970 shares of the company’s stock, valued at $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 9.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CPRT shares. Barclays reaffirmed an “underweight” rating and issued a $33.00 price target (up previously from $32.00) on shares of Copart in a research note on Friday, November 21st. CJS Securities raised shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Robert W. Baird lowered their target price on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Finally, JPMorgan Chase & Co. dropped their price target on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.60.

Copart Price Performance

Shares of CPRT stock opened at $37.49 on Friday. The stock has a market cap of $36.29 billion, a P/E ratio of 22.86 and a beta of 1.08. The company has a fifty day moving average price of $39.57 and a two-hundred day moving average price of $42.88. Copart, Inc. has a one year low of $36.52 and a one year high of $63.85.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Copart had a net margin of 34.24% and a return on equity of 17.78%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the business earned $0.37 EPS. Copart’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.