Congress Asset Management Co. Sells 189,381 Shares of Copart, Inc. (NASDAQ:CPRT)

Congress Asset Management Co. decreased its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,135,607 shares of the business services provider's stock after selling 189,381 shares during the quarter. Congress Asset Management Co. owned 0.22% of Copart worth $120,854,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. HighPoint Advisor Group LLC lifted its stake in Copart by 1.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider's stock valued at $577,000 after acquiring an additional 175 shares in the last quarter. Sandy Spring Bank lifted its stake in Copart by 59.5% during the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after acquiring an additional 176 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Copart by 3.2% during the 4th quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider's stock valued at $345,000 after acquiring an additional 184 shares in the last quarter. Nixon Peabody Trust Co. lifted its stake in Copart by 5.0% during the 1st quarter. Nixon Peabody Trust Co. now owns 4,108 shares of the business services provider's stock valued at $232,000 after acquiring an additional 195 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Copart by 0.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider's stock valued at $4,314,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Insider Activity

In related news, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Insiders sold a total of 200,000 shares of company stock valued at $11,401,000 in the last ninety days. 9.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several recent analyst reports. Argus cut Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. JPMorgan Chase & Co. decreased their target price on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd.

Copart Price Performance

Shares of Copart stock opened at $50.13 on Friday. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The firm has a market cap of $48.43 billion, a PE ratio of 33.64 and a beta of 1.10. The stock has a fifty day moving average price of $58.14 and a 200-day moving average price of $57.87.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the firm posted $0.39 EPS. The business's revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal 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.

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