Texas Permanent School Fund Corp Sells 36,266 Shares of Copart, Inc. (NASDAQ:CPRT)

Texas Permanent School Fund Corp decreased its stake in Copart, Inc. (NASDAQ:CPRT) by 20.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,422 shares of the business services provider’s stock after selling 36,266 shares during the period. Texas Permanent School Fund Corp’s holdings in Copart were worth $7,822,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Gilbert & Cook Inc. raised its holdings in shares of Copart by 1.7% in the 4th quarter. Gilbert & Cook Inc. now owns 28,553 shares of the business services provider’s stock valued at $1,399,000 after purchasing an additional 469 shares during the period. Gryphon Financial Partners LLC acquired a new stake in shares of Copart in the fourth quarter valued at approximately $114,000. QRG Capital Management Inc. boosted its stake in shares of Copart by 9.5% during the 4th quarter. QRG Capital Management Inc. now owns 84,207 shares of the business services provider’s stock worth $4,126,000 after acquiring an additional 7,323 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Copart by 5.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 106,511 shares of the business services provider’s stock worth $5,219,000 after acquiring an additional 5,773 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in Copart by 44.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 7,816 shares of the business services provider’s stock valued at $383,000 after acquiring an additional 2,414 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

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

Copart Price Performance

Shares of NASDAQ CPRT opened at $49.51 on Wednesday. The firm has a market cap of $47.64 billion, a price-to-earnings ratio of 34.87 and a beta of 1.27. The stock’s fifty day moving average price is $52.11 and its two-hundred day moving average price is $53.87. Copart, Inc. has a one year low of $42.41 and a one year high of $58.58.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS 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 business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business posted $0.34 earnings per share. Copart’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

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.