Sawgrass Asset Management LLC Sells 5,825 Shares of Copart, Inc. (NASDAQ:CPRT)

Sawgrass Asset Management LLC decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 130,586 shares of the business services provider's stock after selling 5,825 shares during the quarter. Sawgrass Asset Management LLC's holdings in Copart were worth $7,390,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CPRT. Brighton Jones LLC increased its holdings 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 worth $816,000 after purchasing an additional 6,817 shares during the period. Transcend Capital Advisors LLC increased its holdings in shares of Copart by 20.4% during the 4th quarter. Transcend Capital Advisors LLC now owns 13,721 shares of the business services provider's stock worth $787,000 after purchasing an additional 2,322 shares during the period. Navellier & Associates Inc. increased its holdings in shares of Copart by 30.6% during the 4th quarter. Navellier & Associates Inc. now owns 26,785 shares of the business services provider's stock worth $1,537,000 after purchasing an additional 6,269 shares during the period. TCW Group Inc. increased its holdings in shares of Copart by 284.5% during the 4th quarter. TCW Group Inc. now owns 45,947 shares of the business services provider's stock worth $2,637,000 after purchasing an additional 33,998 shares during the period. Finally, Howard Capital Management Inc. increased its holdings in shares of Copart by 3.7% during the 4th quarter. Howard Capital Management Inc. now owns 23,580 shares of the business services provider's stock worth $1,353,000 after purchasing an additional 848 shares during the period. Institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CPRT. Argus downgraded shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th. JPMorgan Chase & Co. lowered their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd.

Insider Activity at Copart

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.68% of the stock is currently owned by insiders.

Copart Stock Up 0.2%

NASDAQ CPRT opened at $47.97 on Monday. The stock has a market cap of $46.38 billion, a P/E ratio of 31.56 and a beta of 1.10. The company's 50-day simple moving average is $56.58 and its 200 day simple moving average is $56.92. Copart, Inc. has a twelve month low of $47.70 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, meeting analysts' consensus estimates of $0.42. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.23 billion. Copart had a net margin of 32.21% and a return on equity of 18.20%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Research analysts anticipate that Copart, Inc. will post 1.57 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.

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.