New York State Common Retirement Fund Cuts Stock Position in Copart, Inc. (NASDAQ:CPRT)

New York State Common Retirement Fund lessened its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 16.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,425,045 shares of the business services provider's stock after selling 282,100 shares during the period. New York State Common Retirement Fund owned 0.15% of Copart worth $80,643,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CPRT. Sandy Spring Bank raised its stake in Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after purchasing an additional 176 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in Copart during the first quarter valued at $26,000. Sunbelt Securities Inc. purchased a new stake in Copart during the fourth quarter valued at $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Copart during the fourth quarter valued at $45,000. Finally, Cornerstone Planning Group LLC raised its stake in Copart by 51.3% during the first quarter. Cornerstone Planning Group LLC now owns 829 shares of the business services provider's stock valued at $51,000 after purchasing an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Trading Down 1.1%

NASDAQ CPRT opened at $47.46 on Monday. The company's 50-day moving average price is $53.03 and its 200-day moving average price is $55.68. The stock has a market cap of $45.89 billion, a PE ratio of 31.22 and a beta of 1.07. Copart, Inc. has a 12 month low of $47.33 and a 12 month high of $64.38.

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

Analysts Set New Price Targets

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.