Argent Capital Management LLC Has $1.83 Million Position in Copart, Inc. $CPRT

Argent Capital Management LLC cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 71.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,817 shares of the business services provider’s stock after selling 115,522 shares during the quarter. Argent Capital Management LLC’s holdings in Copart were worth $1,833,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CPRT. Cloud Capital Management LLC bought a new stake in shares of Copart during the 3rd quarter worth approximately $25,000. Tripletail Wealth Management LLC bought a new position in shares of Copart in the third quarter valued at $27,000. LRI Investments LLC increased its holdings in Copart by 125.2% during the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after buying an additional 363 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in Copart by 54.0% during the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after buying an additional 256 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Copart during the third quarter worth $36,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CPRT. CJS Securities raised shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Barclays reaffirmed an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. dropped their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.40.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. The trade was a 30.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 9.60% of the stock is owned by company insiders.

Copart Stock Performance

Shares of CPRT stock opened at $32.52 on Friday. Copart, Inc. has a 52 week low of $32.20 and a 52 week high of $63.85. The company has a market capitalization of $31.33 billion, a price-to-earnings ratio of 20.33 and a beta of 1.09. The company has a 50-day simple moving average of $38.29 and a 200 day simple moving average of $41.05.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $0.40 earnings per share. Sell-side analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.