Illinois Municipal Retirement Fund Buys 76,764 Shares of Copart, Inc. (NASDAQ:CPRT)

Illinois Municipal Retirement Fund raised its stake in Copart, Inc. (NASDAQ:CPRT) by 57.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 209,929 shares of the business services provider’s stock after buying an additional 76,764 shares during the period. Illinois Municipal Retirement Fund’s holdings in Copart were worth $10,287,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. CWM LLC boosted its stake in shares of Copart by 108.1% in the 3rd quarter. CWM LLC now owns 24,693 shares of the business services provider’s stock valued at $1,064,000 after purchasing an additional 12,826 shares in the last quarter. AE Wealth Management LLC boosted its stake in shares of Copart by 90.9% in the 3rd quarter. AE Wealth Management LLC now owns 19,503 shares of the business services provider’s stock valued at $840,000 after purchasing an additional 9,287 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Copart by 98.9% in the 3rd quarter. Global Retirement Partners LLC now owns 5,700 shares of the business services provider’s stock valued at $249,000 after purchasing an additional 2,834 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Copart by 66.9% in the 3rd quarter. SG Americas Securities LLC now owns 81,305 shares of the business services provider’s stock valued at $3,503,000 after purchasing an additional 32,580 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC purchased a new stake in Copart during the 3rd quarter valued at $205,000. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Four investment 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, Copart currently has an average rating of “Hold” and a consensus price target of $51.00.

Copart Stock Up 1.3 %

Shares of NASDAQ:CPRT traded up $0.71 on Tuesday, hitting $54.01. The company had a trading volume of 1,021,377 shares, compared to its average volume of 4,575,371. The firm’s 50-day simple moving average is $54.40 and its two-hundred day simple moving average is $50.21. Copart, Inc. has a 1 year low of $38.35 and a 1 year high of $58.58. The firm has a market capitalization of $51.93 billion, a price-to-earnings ratio of 38.35 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts anticipate that Copart, Inc. will post 1.42 EPS for the current year.

Insider Transactions at Copart

In related news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Matt Blunt sold 100,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 985,000 shares of company stock valued at $55,519,950. Company insiders own 10.23% of the company’s stock.

Copart Company 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.