California Public Employees Retirement System Decreases Stock Holdings in Copart, Inc. $CPRT

California Public Employees Retirement System lowered its stake in Copart, Inc. (NASDAQ:CPRT) by 4.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,551,171 shares of the business services provider’s stock after selling 66,828 shares during the quarter. California Public Employees Retirement System owned 0.16% of Copart worth $51,499,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC lifted its holdings in Copart by 1.3% during the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock valued at $931,000 after purchasing an additional 264 shares in the last quarter. Sierra Legacy Group lifted its stake in Copart by 1.9% in the 4th quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider’s stock valued at $543,000 after buying an additional 265 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Copart by 23.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after buying an additional 266 shares in the last quarter. Brown Miller Wealth Management LLC boosted its holdings in Copart by 3.8% in the 4th quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider’s stock worth $286,000 after buying an additional 268 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in Copart by 4.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock worth $250,000 after buying an additional 282 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Down 0.4%

Shares of NASDAQ CPRT opened at $27.49 on Tuesday. The company has a 50-day moving average of $30.61 and a 200 day moving average of $34.36. Copart, Inc. has a 12-month low of $27.18 and a 12-month high of $50.11. The stock has a market cap of $25.45 billion, a PE ratio of 17.07 and a beta of 1.02.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the firm posted $0.42 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on CPRT shares. Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Copart Profile

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.