Arizona State Retirement System Has $14.40 Million Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Arizona State Retirement System lifted its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 254,446 shares of the business services provider's stock after purchasing an additional 6,132 shares during the quarter. Arizona State Retirement System's holdings in Copart were worth $14,399,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Western Pacific Wealth Management LP grew its position in shares of Copart by 6.5% in the 1st quarter. Western Pacific Wealth Management LP now owns 2,838 shares of the business services provider's stock valued at $161,000 after purchasing an additional 173 shares during the period. HighPoint Advisor Group LLC raised its position in Copart by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider's stock valued at $577,000 after buying an additional 175 shares during the last quarter. Blue Trust Inc. raised its position in Copart by 13.1% in the 1st quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider's stock valued at $85,000 after buying an additional 175 shares during the last quarter. Sandy Spring Bank raised its position in Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after buying an additional 176 shares during the last quarter. Finally, Western Wealth Management LLC raised its position in Copart by 4.0% in the 1st quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider's stock valued at $282,000 after buying an additional 192 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $60.01, for a total transaction of $5,700,769.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.68% of the company's stock.

Wall Street Analyst Weigh In

CPRT has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Stephens initiated coverage on Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 target price on the stock.

Copart Trading Down 1.1%

Shares of NASDAQ:CPRT traded down $0.53 during trading on Friday, hitting $47.46. 5,070,408 shares of the company were exchanged, compared to its average volume of 4,925,890. The stock has a market cap of $45.89 billion, a price-to-earnings ratio of 31.22 and a beta of 1.07. Copart, Inc. has a fifty-two week low of $47.33 and a fifty-two week high of $64.38. The firm has a fifty day moving average price of $53.03 and a two-hundred day moving average price of $55.71.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The business's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 EPS. As a group, research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Copart 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.