State Board of Administration of Florida Retirement System Sells 6,828 Shares of Copart, Inc. (CPRT)

State Board of Administration of Florida Retirement System reduced its position in Copart, Inc. (NASDAQ:CPRT) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 321,794 shares of the business services provider’s stock after selling 6,828 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Copart were worth $16,582,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CPRT. FMR LLC increased its stake in Copart by 27.3% in the 2nd quarter. FMR LLC now owns 6,625,549 shares of the business services provider’s stock valued at $374,741,000 after buying an additional 1,420,739 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Copart in the 2nd quarter valued at $36,885,000. State Treasurer State of Michigan increased its stake in Copart by 1,018.6% in the 3rd quarter. State Treasurer State of Michigan now owns 668,900 shares of the business services provider’s stock valued at $34,468,000 after buying an additional 609,100 shares during the period. Northern Trust Corp increased its stake in Copart by 35.1% in the 2nd quarter. Northern Trust Corp now owns 2,119,824 shares of the business services provider’s stock valued at $119,897,000 after buying an additional 551,294 shares during the period. Finally, Paloma Partners Management Co acquired a new position in Copart in the 2nd quarter valued at $21,676,000. 82.52% of the stock is currently owned by institutional investors.

NASDAQ:CPRT opened at $50.27 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.50 and a current ratio of 2.56. Copart, Inc. has a fifty-two week low of $35.32 and a fifty-two week high of $67.08. The firm has a market cap of $11.88 billion, a PE ratio of 29.06, a P/E/G ratio of 1.04 and a beta of 1.01.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Wednesday, September 19th. The business services provider reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.06). Copart had a return on equity of 29.92% and a net margin of 23.14%. The company had revenue of $449.20 million for the quarter, compared to analyst estimates of $448.64 million. During the same period last year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, equities research analysts expect that Copart, Inc. will post 2.13 earnings per share for the current fiscal year.

Several equities analysts have issued reports on CPRT shares. BidaskClub cut shares of Copart from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 15th. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Tuesday, September 18th. Gabelli raised shares of Copart from a “hold” rating to a “buy” rating in a research note on Thursday, September 20th. SunTrust Banks set a $63.00 price target on shares of Copart and gave the stock a “buy” rating in a research note on Thursday, September 20th. Finally, Barrington Research reaffirmed a “hold” rating on shares of Copart in a research note on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Copart currently has an average rating of “Hold” and a consensus target price of $55.14.

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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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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