Copart, Inc. (NASDAQ:CPRT) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 397,701 shares of the business services provider's stock after selling 8,406 shares during the period. Public Employees Retirement System of Ohio's holdings in Copart were worth $20,840,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPRT. Jensen Investment Management Inc. lifted its position in Copart by 2,466.0% in the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider's stock valued at $185,299,000 after buying an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Copart by 462.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider's stock worth $192,240,000 after purchasing an additional 3,016,795 shares during the period. Comgest Global Investors S.A.S. increased its holdings in Copart by 706.6% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider's stock valued at $83,153,000 after purchasing an additional 1,390,146 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in Copart in the second quarter valued at approximately $70,307,000. Finally, Bank of New York Mellon Corp lifted its stake in Copart by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider's stock worth $867,017,000 after purchasing an additional 1,199,781 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Copart Stock Up 1.8 %

Shares of Copart stock traded up $1.09 during trading on Wednesday, reaching $62.61. The company's stock had a trading volume of 3,292,192 shares, compared to its average volume of 4,445,400. 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 $60.33 billion, a P/E ratio of 44.09 and a beta of 1.31. The business has a 50 day moving average price of $56.64 and a 200-day moving average price of $53.93.

Copart (NASDAQ:CPRT - Get Free Report) 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 company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. Copart's revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share. Research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity

In other Copart news, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction 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 transaction, the director now owns 7,850 shares of the company's stock, valued at $485,601. This represents a 91.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction 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 completion of 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 position. The disclosure for this sale can be found here. Company insiders own 9.68% of the company's stock.

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.