Illinois Municipal Retirement Fund Acquires 37,311 Shares of Copart, Inc. $CPRT

Illinois Municipal Retirement Fund grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 36.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,844 shares of the business services provider’s stock after purchasing an additional 37,311 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Copart were worth $6,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC increased its holdings in Copart by 7.5% in the second quarter. ProShare Advisors LLC now owns 1,496,952 shares of the business services provider’s stock worth $73,455,000 after purchasing an additional 104,447 shares in the last quarter. Midwest Trust Co acquired a new stake in shares of Copart during the 2nd quarter worth approximately $7,093,000. Flossbach Von Storch SE grew its position in shares of Copart by 93.6% during the 2nd quarter. Flossbach Von Storch SE now owns 1,135,122 shares of the business services provider’s stock worth $55,700,000 after buying an additional 548,712 shares during the period. Prescott Group Capital Management L.L.C. increased its stake in shares of Copart by 42.8% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 7,449 shares of the business services provider’s stock valued at $366,000 after acquiring an additional 2,231 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Copart during the 2nd quarter valued at $19,789,000. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the sale, the chief executive officer owned 31,332 shares in the company, valued at approximately $1,403,360.28. This represents a 43.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas N. Tryforos sold 228,840 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The SEC filing for this sale provides additional information. Corporate insiders own 9.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CPRT. Robert W. Baird reduced their price target on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. HSBC set a $62.00 price objective on shares of Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Stephens dropped their price target on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, September 5th. Finally, Barclays set a $32.00 price target on Copart in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Copart has an average rating of “Hold” and an average target price of $50.00.

Copart Price Performance

CPRT opened at $41.34 on Wednesday. Copart, Inc. has a fifty-two week low of $39.58 and a fifty-two week high of $64.38. The firm has a market capitalization of $40.01 billion, a PE ratio of 25.84 and a beta of 1.06. The company’s 50-day moving average is $44.94 and its 200 day moving average is $48.88.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

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.