California State Teachers Retirement System Raises Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

California State Teachers Retirement System boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 0.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,351,668 shares of the business services provider’s stock after buying an additional 6,796 shares during the period. California State Teachers Retirement System owned approximately 0.14% of Copart worth $78,289,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC purchased a new stake in Copart during the first quarter worth about $28,000. Pinnacle Bancorp Inc. increased its stake in Copart by 79.6% during the first quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after purchasing an additional 234 shares during the period. Indiana Trust & Investment Management CO purchased a new stake in Copart during the first quarter worth about $36,000. Pittenger & Anderson Inc. increased its stake in Copart by 125.8% during the first quarter. Pittenger & Anderson Inc. now owns 718 shares of the business services provider’s stock worth $42,000 after purchasing an additional 400 shares during the period. Finally, Trust Co. of Vermont purchased a new stake in Copart during the fourth quarter worth about $38,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price target on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.00.

Copart Stock Up 1.2 %

CPRT traded up $0.61 on Wednesday, reaching $52.33. The company’s stock had a trading volume of 4,358,829 shares, compared to its average volume of 4,480,857. The stock has a 50 day moving average of $53.47 and a two-hundred day moving average of $53.39. The company has a market capitalization of $50.36 billion, a price-to-earnings ratio of 36.85 and a beta of 1.27. Copart, Inc. has a fifty-two week low of $42.41 and a fifty-two week high of $58.58.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 earnings per share. As a group, analysts anticipate that Copart, Inc. will post 1.43 earnings per share for the current fiscal year.

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.