Congress Asset Management Co. Has $137.48 Million Stake in Copart, Inc. (NASDAQ:CPRT)

Congress Asset Management Co. lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,623,682 shares of the business services provider's stock after selling 73,006 shares during the period. Congress Asset Management Co. owned approximately 0.27% of Copart worth $137,481,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CPRT. Optimum Investment Advisors increased its holdings in Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock worth $27,000 after purchasing an additional 300 shares in the last quarter. Eastern Bank acquired a new stake in Copart in the 3rd quarter valued at approximately $29,000. Crewe Advisors LLC lifted its stake in Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider's stock valued at $31,000 after acquiring an additional 280 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider's stock worth $31,000 after acquiring an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Copart by 477.7% in the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider's stock valued at $32,000 after purchasing an additional 492 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Robert W. Baird decreased their target price on shares of Copart from $58.00 to $56.00 and set an "outperform" rating for the company in a research report on Thursday, September 5th.

Copart Price Performance

CPRT stock traded down $0.83 during mid-day trading on Thursday, reaching $51.47. The company had a trading volume of 3,179,387 shares, compared to its average volume of 4,435,543. The company has a market capitalization of $49.58 billion, a price-to-earnings ratio of 36.83 and a beta of 1.27. Copart, Inc. has a 52 week low of $42.83 and a 52 week high of $58.58. The stock has a 50 day simple moving average of $52.30 and a two-hundred day simple moving average of $53.04.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. Copart's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share. On average, equities analysts predict that Copart, Inc. will post 1.54 EPS for the current 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.