Louisiana State Employees Retirement System Sells 3,200 Shares of Copart, Inc. (NASDAQ:CPRT)

Louisiana State Employees Retirement System lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,700 shares of the business services provider’s stock after selling 3,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Copart were worth $6,429,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. raised its holdings in shares of Copart by 462.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after purchasing an additional 3,016,795 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Copart in the second quarter valued at approximately $109,382,000. Price T Rowe Associates Inc. MD lifted its holdings in Copart by 28.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after purchasing an additional 1,500,466 shares during the last quarter. TD Asset Management Inc increased its position in Copart by 43.3% during the 1st quarter. TD Asset Management Inc now owns 4,862,147 shares of the business services provider’s stock worth $281,616,000 after buying an additional 1,469,292 shares during the period. Finally, Kimelman & Baird LLC bought a new stake in shares of Copart in the second quarter valued at about $70,307,000. 85.78% of the stock is owned by institutional investors.

Copart Stock Up 0.6 %

CPRT stock opened at $51.71 on Friday. The company’s 50-day moving average price is $52.30 and its two-hundred day moving average price is $53.15. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58. The firm has a market cap of $49.76 billion, a P/E ratio of 36.42 and a beta of 1.27.

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

Analysts Set New Price Targets

Separately, Robert W. Baird decreased their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report 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.