New York State Common Retirement Fund Has $54.40 Million Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

New York State Common Retirement Fund cut its stake in Copart, Inc. (NASDAQ:CPRT) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,110,291 shares of the business services provider’s stock after selling 98,164 shares during the quarter. New York State Common Retirement Fund’s holdings in Copart were worth $54,404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CPRT. Vanguard Group Inc. grew its position in shares of Copart by 100.6% in the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after purchasing an additional 48,891,984 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Copart by 96.8% during the third quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock worth $1,715,114,000 after buying an additional 19,576,719 shares in the last quarter. Wellington Management Group LLP raised its position in Copart by 84.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock worth $772,568,000 after purchasing an additional 8,205,757 shares during the last quarter. JPMorgan Chase & Co. raised its position in Copart by 79.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock worth $748,006,000 after purchasing an additional 7,666,881 shares during the last quarter. Finally, FMR LLC raised its position in shares of Copart by 93.6% during the 3rd quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock valued at $634,882,000 after acquiring an additional 7,122,991 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Copart

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the transaction, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the transaction, the director now directly owns 35,000 shares in the company, valued at $1,934,450. The disclosure for this sale can be found here. Insiders have sold a total of 985,000 shares of company stock valued at $55,519,950 in the last three months. 10.23% of the stock is currently owned by company insiders.

Copart Price Performance

Copart stock opened at $54.31 on Wednesday. The firm has a 50-day moving average of $54.50 and a 200-day moving average of $50.28. Copart, Inc. has a one year low of $38.35 and a one year high of $58.58. The company has a market cap of $52.22 billion, a price-to-earnings ratio of 39.07 and a beta of 1.22.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 earnings per share. As a group, sell-side analysts expect that Copart, Inc. will post 1.42 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CPRT shares. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. boosted their price target on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.