Federated Hermes Inc. Sells 56,446 Shares of Copart, Inc. (NASDAQ:CPRT)

Federated Hermes Inc. reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,194,300 shares of the business services provider's stock after selling 56,446 shares during the quarter. Federated Hermes Inc. owned 0.12% of Copart worth $58,521,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CPRT. Quarry LP purchased a new stake in Copart during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC purchased a new stake in Copart during the 2nd quarter worth approximately $38,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Copart during the 2nd quarter worth approximately $38,000. Hollencrest Capital Management increased its holdings in shares of Copart by 92.1% in the 1st quarter. Hollencrest Capital Management now owns 438 shares of the business services provider's stock valued at $33,000 after acquiring an additional 210 shares during the last quarter. Finally, First Capital Advisors Group LLC. bought a new stake in shares of Copart in the 2nd quarter valued at approximately $50,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CPRT. StockNews.com downgraded Copart from a "buy" rating to a "hold" rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. boosted their price target on Copart from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Copart presently has a consensus rating of "Hold" and a consensus target price of $51.00.

Insider Transactions at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of the business's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the sale, the chairman now owns 19,687,980 shares of the company's stock, valued at approximately $1,137,374,604.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman A Jayson Adair sold 600,000 shares of the business'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 directly owns 19,687,980 shares of the company's stock, valued at $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of the business's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the sale, the director now directly owns 35,000 shares in the company, valued at $1,934,450. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 985,000 shares of company stock valued at $55,519,950. Corporate insiders own 10.23% of the company's stock.

Copart Stock Down 0.6 %

CPRT stock traded down $0.32 during trading on Friday, reaching $52.88. 5,783,462 shares of the company's stock were exchanged, compared to its average volume of 3,769,303. Copart, Inc. has a 1-year low of $38.35 and a 1-year high of $58.58. The company's fifty day moving average price is $54.34 and its 200-day moving average price is $50.10. The firm has a market cap of $50.84 billion, a PE ratio of 38.04 and a beta of 1.22.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm posted $0.31 EPS. The company's revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

Copart Company 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.