Copart, Inc. (NASDAQ:CPRT) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its holdings in Copart, Inc. (NASDAQ:CPRT) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,927 shares of the business services provider’s stock after selling 2,293 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Copart were worth $1,359,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CPRT. Principal Financial Group Inc. increased its holdings in Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after purchasing an additional 941,858 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Copart by 8.1% in 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 buying an additional 1,199,781 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Copart by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock valued at $427,807,000 after buying an additional 30,454 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Copart by 9.4% in the second quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock valued at $376,035,000 after buying an additional 598,566 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Copart by 28.0% during the 1st 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 buying an additional 1,500,466 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lowered their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

Copart Price Performance

Shares of Copart stock opened at $56.67 on Friday. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $58.58. The company has a market capitalization of $54.59 billion, a PE ratio of 40.77 and a beta of 1.27. The business has a 50-day moving average of $52.99 and a 200-day moving average of $53.10.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a net margin of 32.17% and a return on equity of 19.55%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business earned $0.34 EPS. Copart’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts expect that Copart, Inc. will post 1.54 earnings per share 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.