Retirement Systems of Alabama Sells 7,459 Shares of Copart, Inc. (NASDAQ:CPRT)

Retirement Systems of Alabama decreased its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 719,833 shares of the business services provider's stock after selling 7,459 shares during the period. Retirement Systems of Alabama owned about 0.07% of Copart worth $40,735,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Copart by 2.5% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider's stock valued at $19,494,000 after purchasing an additional 8,300 shares during the period. National Pension Service increased its holdings in Copart by 3.2% in the fourth quarter. National Pension Service now owns 1,558,067 shares of the business services provider's stock worth $89,417,000 after buying an additional 48,334 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Copart by 289.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,322 shares of the business services provider's stock worth $1,970,000 after buying an additional 25,512 shares during the last quarter. Sowell Financial Services LLC acquired a new position in Copart in the first quarter worth approximately $604,000. Finally, Tsai Capital Corp increased its holdings in Copart by 13.3% in the fourth quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider's stock worth $3,540,000 after buying an additional 7,230 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Buying and Selling at Copart

In other Copart news, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $60.01, for a total transaction of $300,230.03. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.68% of the company's stock.

Copart Price Performance

NASDAQ:CPRT traded up $0.09 during mid-day trading on Friday, reaching $47.97. The stock had a trading volume of 14,395,030 shares, compared to its average volume of 4,872,114. Copart, Inc. has a fifty-two week low of $47.70 and a fifty-two week high of $64.38. The business's 50 day moving average is $56.58 and its 200 day moving average is $56.95. The stock has a market cap of $46.38 billion, a P/E ratio of 31.56 and a beta of 1.10.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Copart had a return on equity of 18.20% and a net margin of 32.21%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the company posted $0.39 earnings per share. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Ratings Changes

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

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.