Copart, Inc. (NASDAQ:CPRT) Stock Position Raised by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 226.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 167,018 shares of the business services provider's stock after purchasing an additional 115,880 shares during the quarter. Teacher Retirement System of Texas' holdings in Copart were worth $9,452,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of 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 purchasing an additional 25,512 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of Copart in the first quarter valued at approximately $604,000. Tsai Capital Corp boosted its holdings in shares of Copart by 13.3% in the fourth quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider's stock valued at $3,540,000 after acquiring an additional 7,230 shares in the last quarter. Voleon Capital Management LP bought a new position in shares of Copart in the fourth quarter valued at approximately $1,314,000. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Copart by 53.3% in the first quarter. Handelsbanken Fonder AB now owns 854,336 shares of the business services provider's stock valued at $48,347,000 after acquiring an additional 297,210 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Price Performance

Shares of NASDAQ:CPRT traded down $0.49 on Monday, reaching $48.83. 4,230,236 shares of the company traded hands, compared to its average volume of 4,873,699. The stock has a market capitalization of $47.22 billion, a PE ratio of 32.13 and a beta of 1.07. The company's 50 day moving average is $54.28 and its 200-day moving average is $56.06. Copart, Inc. has a fifty-two week low of $47.33 and a fifty-two week high of $64.38.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Argus downgraded shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Insiders Place Their Bets

In related news, Director Steven D. Cohan sold 94,997 shares of Copart 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 9.68% of the company's stock.

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.