Kentucky Retirement Systems Insurance Trust Fund Reduces Holdings in Copart, Inc. (NASDAQ:CPRT)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 7.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,836 shares of the business services provider’s stock after selling 2,293 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Copart were worth $1,670,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in Copart by 28.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock valued at $397,406,000 after purchasing an additional 1,500,466 shares during the period. Epoch Investment Partners Inc. lifted its position in Copart by 57.4% in the first quarter. Epoch Investment Partners Inc. now owns 2,791,737 shares of the business services provider’s stock valued at $161,697,000 after purchasing an additional 1,018,182 shares during the period. 1832 Asset Management L.P. lifted its position in Copart by 2.2% in the first quarter. 1832 Asset Management L.P. now owns 82,105 shares of the business services provider’s stock valued at $4,756,000 after purchasing an additional 1,741 shares during the period. Guardian Capital LP lifted its position in Copart by 21.9% in the first quarter. Guardian Capital LP now owns 23,400 shares of the business services provider’s stock valued at $1,355,000 after purchasing an additional 4,200 shares during the period. Finally, JT Stratford LLC lifted its position in Copart by 29.8% in the first quarter. JT Stratford LLC now owns 34,881 shares of the business services provider’s stock valued at $2,020,000 after purchasing an additional 8,016 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Price Performance

CPRT traded up $0.62 during trading on Friday, hitting $51.05. The company’s stock had a trading volume of 3,969,340 shares, compared to its average volume of 5,057,478. The firm’s 50 day moving average price is $53.64 and its 200-day moving average price is $53.35. The stock has a market cap of $49.13 billion, a PE ratio of 35.95 and a beta of 1.27. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. Copart’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 EPS. Equities analysts anticipate that Copart, Inc. will post 1.43 earnings per share for the current year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised their price objective on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Copart has an average rating of “Hold” and an average price target of $51.00.

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.