Kentucky Retirement Systems Insurance Trust Fund Acquires New Holdings in Copart, Inc. (NASDAQ:CPRT)

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 25,366 shares of the business services provider's stock, valued at approximately $1,435,000.

Other large investors also recently added to or reduced their stakes in the company. Western Pacific Wealth Management LP grew its holdings in shares of Copart by 6.5% during 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 acquiring an additional 173 shares in the last quarter. HighPoint Advisor Group LLC increased 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 worth $577,000 after purchasing an additional 175 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Copart by 13.1% during the 1st quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider's stock worth $85,000 after purchasing an additional 175 shares in the last quarter. Sandy Spring Bank lifted its holdings in shares of Copart by 59.5% during 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, Lindbrook Capital LLC raised its position in Copart by 3.2% during the fourth quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider's stock valued at $345,000 after acquiring an additional 184 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 9.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CPRT shares. Argus cut Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th. JPMorgan Chase & Co. dropped their price objective on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd.

Copart Trading Up 1.9%

NASDAQ CPRT traded up $0.93 during trading hours on Tuesday, reaching $48.65. 6,223,551 shares of the company's stock were exchanged, compared to its average volume of 4,892,554. The firm has a fifty day moving average of $56.10 and a 200-day moving average of $56.76. Copart, Inc. has a one year low of $47.33 and a one year high of $64.38. The stock has a market cap of $47.04 billion, a PE ratio of 32.01 and a beta of 1.10.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, hitting analysts' consensus estimates of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. The company's revenue was up 7.5% on a year-over-year basis. As a group, research analysts forecast 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.