California Public Employees Retirement System Sells 104,451 Shares of Copart, Inc. (NASDAQ:CPRT)

California Public Employees Retirement System lessened its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,394,296 shares of the business services provider's stock after selling 104,451 shares during the period. California Public Employees Retirement System owned about 0.14% of Copart worth $80,019,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Sandy Spring Bank grew its holdings in Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after purchasing an additional 176 shares during the period. Quarry LP acquired a new position in shares of Copart during the 3rd quarter worth approximately $29,000. True Wealth Design LLC raised its stake in Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock valued at $34,000 after acquiring an additional 608 shares during the period. Curio Wealth LLC acquired a new stake in Copart during the 4th quarter valued at $52,000. Finally, Retirement Wealth Solutions LLC bought a new position in Copart during the fourth quarter worth $54,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Insiders Place Their Bets

In other Copart news, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James E. Meeks sold 100,000 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company's stock.

Copart Stock Performance

Shares of NASDAQ CPRT traded down $2.13 during trading hours on Friday, reaching $54.51. 8,771,270 shares of the stock were exchanged, compared to its average volume of 4,308,382. The firm has a market capitalization of $52.66 billion, a price-to-earnings ratio of 36.58 and a beta of 1.22. The stock's fifty day simple moving average is $56.23 and its 200 day simple moving average is $56.42. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.13 billion. Research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.