Public Employees Retirement System of Ohio Cuts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Public Employees Retirement System of Ohio trimmed its position in shares of Copart, Inc. (NASDAQ:CPRT) by 11.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 351,376 shares of the business services provider’s stock after selling 44,037 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Copart were worth $20,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CPRT. Cadence Bank boosted its holdings in shares of Copart by 0.6% in the 1st quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock worth $1,817,000 after buying an additional 187 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in Copart by 2.4% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 9,054 shares of the business services provider’s stock valued at $524,000 after acquiring an additional 209 shares during the period. PDS Planning Inc raised its stake in Copart by 5.0% in the 1st quarter. PDS Planning Inc now owns 4,538 shares of the business services provider’s stock valued at $263,000 after acquiring an additional 216 shares during the period. Rathbones Group PLC raised its stake in Copart by 2.9% in the 4th quarter. Rathbones Group PLC now owns 7,821 shares of the business services provider’s stock valued at $383,000 after acquiring an additional 221 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in Copart by 0.9% in the 4th quarter. Panagora Asset Management Inc. now owns 25,133 shares of the business services provider’s stock valued at $1,232,000 after acquiring an additional 226 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Copart Trading Up 1.3 %

Shares of NASDAQ CPRT opened at $51.69 on Tuesday. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58. The firm has a market capitalization of $49.74 billion, a price-to-earnings ratio of 35.95 and a beta of 1.28. The business has a 50-day moving average of $53.56 and a 200-day moving average of $53.37.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. Copart’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. On average, analysts predict that Copart, Inc. will post 1.43 earnings per share for the current year.

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.