Congress Asset Management Co. Lowers Position in Copart, Inc. (NASDAQ:CPRT)

Congress Asset Management Co. decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 11.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,324,988 shares of the business services provider's stock after selling 298,694 shares during the quarter. Congress Asset Management Co. owned about 0.24% of Copart worth $133,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in shares of Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the period. State Street Corp increased its stake in Copart by 0.4% in the third quarter. State Street Corp now owns 34,157,967 shares of the business services provider's stock valued at $1,789,877,000 after acquiring an additional 120,939 shares during the last quarter. Edgewood Management LLC increased its stake in Copart by 0.6% in the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider's stock valued at $1,077,119,000 after acquiring an additional 125,220 shares during the last quarter. Geode Capital Management LLC boosted its position in Copart by 1.6% during the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider's stock valued at $979,547,000 after buying an additional 291,580 shares during the period. Finally, Barclays PLC boosted its position in Copart by 0.4% during the third quarter. Barclays PLC now owns 6,042,734 shares of the business services provider's stock valued at $316,639,000 after buying an additional 21,710 shares during the period. Institutional investors own 85.78% of the company's stock.

Copart Price Performance

NASDAQ CPRT traded up $0.15 during trading on Wednesday, hitting $59.74. 3,636,531 shares of the company's stock traded hands, compared to its average volume of 3,311,239. The stock has a fifty day moving average of $58.20 and a two-hundred day moving average of $55.56. The firm has a market cap of $57.56 billion, a P/E ratio of 42.07 and a beta of 1.33. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting analysts' consensus estimates of $0.37. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. Copart's revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 earnings per share. As a group, analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Transactions at Copart

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the firm's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now directly owns 14,436,557 shares in the company, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel J. Englander sold 235,480 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 650,213 shares of company stock worth $39,199,813. Company insiders own 9.68% of the company's stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price target on shares of Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, November 19th.

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.