California Public Employees Retirement System Has $80.02 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

California Public Employees Retirement System cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,394,296 shares of the business services provider’s stock after selling 104,451 shares during the period. California Public Employees Retirement System owned approximately 0.14% of Copart worth $80,019,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Sandy Spring Bank raised its position in shares of Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares during the period. Quarry LP bought a new position in Copart in the third quarter valued at approximately $29,000. True Wealth Design LLC lifted its stake in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after buying an additional 608 shares in the last quarter. Curio Wealth LLC acquired a new position in shares of Copart in the fourth quarter valued at approximately $52,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Copart during the fourth quarter worth $54,000. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Argus cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Insider Activity

In other news, Director Matt Blunt sold 50,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders sold 385,480 shares of company stock worth $21,667,683 in the last quarter. Corporate insiders own 9.68% of the company’s stock.

Copart Stock Performance

Shares of Copart stock opened at $56.59 on Tuesday. The firm has a market cap of $54.67 billion, a PE ratio of 37.98 and a beta of 1.30. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The business’s 50 day simple moving average is $56.32 and its 200 day simple moving average is $56.28.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. As a group, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

About Copart

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.