Public Employees Retirement System of Ohio Takes $7.09 Million Position in Copart, Inc. $CPRT

Key Points

• Public Employees Retirement System of Ohio purchased 251,439 Copart shares in the second quarter, valued at approximately $7.09 million. Institutional investors collectively own 85.78% of the company.
• Copart shares opened at $32.47, with the stock down 1.6% and trading near its 200-day moving average. The company has a market capitalization of about $30.06 billion and a 12-month range of $26.81 to $50.11.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $41.50; meanwhile, CEO Jeffrey Liaw sold 27,745 shares worth approximately $846,000.

Public Employees Retirement System of Ohio purchased a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 251,439 shares of the business services provider's stock, valued at approximately $7,088,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. C M Bidwell & Associates Ltd. purchased a new stake in shares of Copart in the second quarter valued at about $25,000. Versant Capital Management Inc increased its position in Copart by 110.9% in the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock valued at $27,000 after acquiring an additional 498 shares during the period. Cache Advisors LLC acquired a new position in Copart in the 1st quarter valued at about $31,000. Compass Financial Management LLC purchased a new stake in Copart during the 2nd quarter valued at approximately $33,000. Finally, Reflection Asset Management purchased a new stake in Copart during the 4th quarter valued at approximately $34,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Trading Down 1.6%

Shares of CPRT stock opened at $32.47 on Wednesday. The stock has a 50 day simple moving average of $29.90 and a 200-day simple moving average of $32.31. The company has a market cap of $30.06 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 1.99 and a beta of 1.03. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CPRT. Weiss Ratings reiterated a "sell (d+)" rating on shares of Copart in a research note on Wednesday, July 29th. Barclays set a $25.00 price target on Copart and gave the stock an "underweight" rating in a report on Wednesday, August 26th. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research report on Friday, May 22nd. Freedom Capital raised shares of Copart to a "strong-buy" rating in a research note on Friday, June 26th. Finally, Stephens restated an "equal weight" rating and set a $35.00 price objective on shares of Copart in a research report on Thursday, August 20th. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $41.50.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the transaction, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.60% of the stock is owned by corporate insiders.

Copart Profile

Copart NASDAQ: CPRT is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart's business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.

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