Copart, Inc. (CPRT) Stake Decreased by Congress Asset Management Co. MA

Congress Asset Management Co. MA cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,785,810 shares of the business services provider’s stock after selling 90,329 shares during the period. Copart comprises about 1.2% of Congress Asset Management Co. MA’s investment portfolio, making the stock its 28th biggest holding. Congress Asset Management Co. MA owned approximately 0.76% of Copart worth $92,023,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Cornerstone Advisors Inc. grew its stake in Copart by 88.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the business services provider’s stock worth $112,000 after purchasing an additional 926 shares in the last quarter. First Hawaiian Bank acquired a new position in Copart in the third quarter worth about $117,000. TRUE Private Wealth Advisors acquired a new position in Copart in the third quarter worth about $118,000. Financial Architects Inc grew its stake in Copart by 211.7% in the second quarter. Financial Architects Inc now owns 2,668 shares of the business services provider’s stock worth $151,000 after purchasing an additional 1,812 shares in the last quarter. Finally, Atlantic Trust LLC acquired a new position in Copart in the second quarter worth about $165,000. Institutional investors own 82.68% of the company’s stock.

CPRT stock traded down $1.15 during midday trading on Friday, reaching $47.26. The company had a trading volume of 2,317,400 shares, compared to its average volume of 2,074,278. The company has a quick ratio of 2.50, a current ratio of 2.56 and a debt-to-equity ratio of 0.25. Copart, Inc. has a fifty-two week low of $35.32 and a fifty-two week high of $67.08. The company has a market cap of $11.81 billion, a P/E ratio of 27.32, a PEG ratio of 1.03 and a beta of 0.99.



Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, September 19th. The business services provider reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.06). Copart had a net margin of 23.14% and a return on equity of 29.92%. The company had revenue of $449.20 million during the quarter, compared to analyst estimates of $448.64 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The business’s revenue was up 18.6% on a year-over-year basis. Analysts expect that Copart, Inc. will post 2.13 EPS for the current fiscal year.

CPRT has been the subject of a number of research reports. ValuEngine downgraded Copart from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. JPMorgan Chase & Co. downgraded Copart from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $48.00 to $47.00 in a research note on Friday, September 21st. Barrington Research reiterated a “hold” rating on shares of Copart in a research note on Tuesday, September 18th. BidaskClub downgraded Copart from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 15th. Finally, Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Tuesday, September 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $55.14.

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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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