Louisiana State Employees Retirement System Decreases Stock Position in Copart, Inc. (NASDAQ:CPRT)

Louisiana State Employees Retirement System cut its position in Copart, Inc. (NASDAQ:CPRT) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Jensen Investment Management Inc. boosted its stake in Copart by 2,466.0% during the 3rd quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after purchasing an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Copart by 462.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock worth $192,240,000 after acquiring an additional 3,016,795 shares during the last quarter. Franklin Resources Inc. grew its stake in Copart by 335.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after acquiring an additional 2,084,626 shares in the last quarter. Comgest Global Investors S.A.S. lifted its stake 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 worth $83,153,000 after purchasing an additional 1,390,146 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Copart by 1,103.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,062,931 shares of the business services provider’s stock worth $55,698,000 after purchasing an additional 974,585 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of NASDAQ CPRT opened at $59.23 on Wednesday. The company has a market capitalization of $57.07 billion, a P/E ratio of 41.71 and a beta of 1.33. The company has a 50 day simple moving average of $58.46 and a 200-day simple moving average of $55.29. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, research analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

Insider Activity at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The stock was 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. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $1,160,200. The trade was a 60.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 650,213 shares of company stock worth $39,199,813. Company insiders own 9.68% of the company’s stock.

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.