Louisiana State Employees Retirement System Has $6.75 Million Stock Position in Copart, Inc. (NASDAQ:CPRT)

Louisiana State Employees Retirement System cut its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 117,600 shares of the business services provider's stock after selling 5,100 shares during the period. Louisiana State Employees Retirement System's holdings in Copart were worth $6,749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Optimum Investment Advisors raised its holdings in shares of Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock worth $27,000 after acquiring an additional 300 shares during the period. Eastern Bank acquired a new stake in shares of Copart during the third quarter worth $29,000. Quarry LP acquired a new stake in shares of Copart during the third quarter worth $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Copart during the third quarter worth $33,000. Finally, True Wealth Design LLC raised its holdings in shares of Copart by 1,737.1% during the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock worth $34,000 after acquiring an additional 608 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Copart

In other news, Director Thomas N. Tryforos sold 83,310 shares of the business's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the transaction, the director now directly owns 7,850 shares in the company, valued at $485,601. The trade was a 91.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Diane M. Morefield sold 30,000 shares of the business's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock worth $39,199,813 in the last ninety days. Insiders own 9.68% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th.

Copart Price Performance

CPRT stock traded down $0.44 during midday trading on Friday, hitting $59.39. The company's stock had a trading volume of 2,392,531 shares, compared to its average volume of 3,039,759. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The company's fifty day moving average price is $58.29 and its 200 day moving average price is $55.41. The stock has a market capitalization of $57.22 billion, a P/E ratio of 41.82 and a beta of 1.33.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the business earned $0.34 EPS. The company's revenue was up 12.4% compared to the same quarter last year. Equities analysts expect 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.