Congress Asset Management Co. MA Decreases Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Congress Asset Management Co. MA cut its stake in Copart, Inc. (NASDAQ:CPRT) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,881,867 shares of the business services provider’s stock after selling 57,062 shares during the period. Copart makes up about 1.1% of Congress Asset Management Co. MA’s holdings, making the stock its 17th largest holding. Congress Asset Management Co. MA owned approximately 0.30% of Copart worth $141,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Rathbones Group PLC boosted its holdings 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 purchasing an additional 221 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in Copart by 0.9% in the fourth 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 last quarter. Savant Capital LLC grew its position in Copart by 3.8% in the fourth quarter. Savant Capital LLC now owns 6,933 shares of the business services provider’s stock worth $340,000 after acquiring an additional 251 shares during the period. First Citizens Bank & Trust Co. increased its stake in Copart by 3.6% during the fourth quarter. First Citizens Bank & Trust Co. now owns 7,729 shares of the business services provider’s stock worth $379,000 after acquiring an additional 268 shares during the last quarter. Finally, BSW Wealth Partners raised its position in Copart by 4.1% in the fourth quarter. BSW Wealth Partners now owns 6,972 shares of the business services provider’s stock valued at $342,000 after purchasing an additional 277 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction on 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 sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. boosted their price target on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $51.00.

Copart Trading Up 0.3 %

CPRT traded up $0.15 during mid-day trading on Friday, hitting $53.21. 3,592,571 shares of the stock were exchanged, compared to its average volume of 3,797,142. The firm’s fifty day moving average is $54.34 and its two-hundred day moving average is $52.20. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58. The company has a market cap of $51.20 billion, a PE ratio of 37.47 and a beta of 1.26.

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

Copart 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.