Congress Asset Management Co. Sells 17,315 Shares of Copart, Inc. $CPRT

Congress Asset Management Co. trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 31.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,073 shares of the business services provider’s stock after selling 17,315 shares during the quarter. Congress Asset Management Co.’s holdings in Copart were worth $1,491,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after purchasing an additional 6,817 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Copart by 365.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after buying an additional 878 shares during the period. Magnetar Financial LLC bought a new position in Copart in the 2nd quarter worth $208,000. Global Retirement Partners LLC purchased a new stake in Copart in the 2nd quarter worth $275,000. Finally, CreativeOne Wealth LLC increased its stake in Copart by 6.4% in the 2nd quarter. CreativeOne Wealth LLC now owns 9,605 shares of the business services provider’s stock worth $471,000 after buying an additional 576 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Up 0.7%

Shares of CPRT stock opened at $33.08 on Thursday. The company’s fifty day simple moving average is $37.74 and its two-hundred day simple moving average is $40.56. Copart, Inc. has a 52 week low of $32.20 and a 52 week high of $63.85. The stock has a market cap of $31.87 billion, a P/E ratio of 20.68 and a beta of 1.09.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CPRT shares. Weiss Ratings restated a “hold (c-)” rating on shares of Copart in a research report on Monday. Barclays reiterated an “underweight” rating and set a $32.00 target price (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Robert W. Baird set a $48.00 target price on Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Finally, CJS Securities upgraded Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Copart presently has an average rating of “Hold” and a consensus price target of $44.40.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the transaction, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. This trade represents a 30.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 9.60% of the stock is owned by corporate insiders.

Copart Company 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.