Kentucky Retirement Systems Insurance Trust Fund Trims Stake in Copart, Inc. (NASDAQ:CPRT)

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,927 shares of the business services provider’s stock after selling 2,293 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Copart were worth $1,359,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Cadence Bank increased its position in Copart by 0.6% during the 1st quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock worth $1,817,000 after purchasing an additional 187 shares in the last quarter. WASHINGTON TRUST Co grew its holdings in shares of Copart by 0.3% during the second quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock worth $3,350,000 after buying an additional 200 shares in the last quarter. Spinnaker Trust raised its position in shares of Copart by 4.0% in the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock valued at $283,000 after buying an additional 200 shares during the last quarter. Values First Advisors Inc. lifted its stake in shares of Copart by 2.9% during the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock valued at $384,000 after buying an additional 201 shares during the period. Finally, Duncan Williams Asset Management LLC boosted its position in Copart by 1.3% during the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock worth $809,000 after acquiring an additional 203 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Price Performance

Shares of CPRT stock opened at $56.67 on Friday. The firm’s 50-day simple moving average is $52.99 and its 200-day simple moving average is $53.10. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $58.58. The firm has a market cap of $54.59 billion, a P/E ratio of 40.77 and a beta of 1.27.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business earned $0.34 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts expect that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Robert W. Baird reduced their price target on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

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.