Argent Capital Management LLC Sells 19,016 Shares of Copart, Inc. (NASDAQ:CPRT)

Argent Capital Management LLC cut its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,456,320 shares of the business services provider's stock after selling 19,016 shares during the period. Copart accounts for 2.4% of Argent Capital Management LLC's investment portfolio, making the stock its 15th largest holding. Argent Capital Management LLC owned about 0.15% of Copart worth $83,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Optimum Investment Advisors increased its stake in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock valued at $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank bought a new position in shares of Copart during the 3rd quarter worth about $29,000. Quarry LP acquired a new stake in shares of Copart in the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC bought a new stake in Copart in the 3rd quarter valued at about $33,000. Finally, True Wealth Design LLC raised its stake in Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock worth $34,000 after buying an additional 608 shares during the period. Institutional investors own 85.78% of the company's stock.

Insider Activity at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the transaction, the chairman now directly owns 14,436,557 shares of the company's stock, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the sale, the director now directly owns 7,850 shares of the company's stock, valued at $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised their price objective on Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th.

Copart Price Performance

Shares of CPRT remained flat at $56.40 on Thursday. 2,522,821 shares of the company were exchanged, compared to its average volume of 3,763,144. Copart, Inc. has a 12 month low of $47.31 and a 12 month high of $64.38. The firm has a market cap of $54.34 billion, a PE ratio of 39.72 and a beta of 1.33. The company has a fifty day moving average of $59.05 and a two-hundred day moving average of $54.68.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 earnings per share. Equities research analysts forecast that Copart, Inc. will post 1.57 EPS 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.