Louisiana State Employees Retirement System Invests $6.33 Million in Copart, Inc. (NASDAQ:CPRT)

Louisiana State Employees Retirement System acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 129,100 shares of the business services provider's stock, valued at approximately $6,326,000.

A number of other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in shares of Copart in the third quarter worth about $25,000. Manchester Capital Management LLC boosted its stake in shares of Copart by 101.0% in the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider's stock worth $27,000 after acquiring an additional 314 shares during the period. Quarry LP bought a new position in shares of Copart in the first quarter worth about $29,000. Bell Investment Advisors Inc boosted its stake in shares of Copart by 87.1% in the third quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider's stock worth $30,000 after acquiring an additional 323 shares during the period. Finally, Annapolis Financial Services LLC boosted its stake in shares of Copart by 100.0% in the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider's stock worth $31,000 after acquiring an additional 360 shares during the period. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Stock Down 1.1 %

NASDAQ:CPRT traded down $0.62 during midday trading on Friday, hitting $55.38. The stock had a trading volume of 3,610,042 shares, compared to its average volume of 4,138,347. Copart, Inc. has a one year low of $38.05 and a one year high of $58.58. The company has a market capitalization of $53.25 billion, a price-to-earnings ratio of 39.84 and a beta of 1.22. The stock has a 50-day moving average of $54.02 and a 200 day moving average of $49.77.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company earned $0.31 EPS. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CPRT shares. JPMorgan Chase & Co. boosted their target price on Copart from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Monday, April 8th. StockNews.com downgraded Copart from a "buy" rating to a "hold" rating in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $51.00.

Insider Buying and Selling at Copart

In other Copart news, Director Matt Blunt sold 100,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Copart news, Director Matt Blunt sold 100,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the sale, the director now directly owns 35,000 shares of the company's stock, valued at approximately $1,934,450. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 985,000 shares of company stock valued at $55,519,950. 10.23% of the stock is currently owned by corporate insiders.

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.