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

Federated Hermes Inc. trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,194,300 shares of the business services provider’s stock after selling 56,446 shares during the period. Federated Hermes Inc.’s holdings in Copart were worth $58,521,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Copart by 100.6% in the 3rd quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after acquiring an additional 48,891,984 shares during the period. Principal Financial Group Inc. raised its stake in Copart by 96.8% in the 3rd quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock valued at $1,715,114,000 after acquiring an additional 19,576,719 shares during the period. Wellington Management Group LLP raised its stake in Copart by 84.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after acquiring an additional 8,205,757 shares during the period. JPMorgan Chase & Co. raised its stake in Copart by 79.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock valued at $748,006,000 after acquiring an additional 7,666,881 shares during the period. Finally, FMR LLC raised its stake in Copart by 93.6% in the 3rd quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock valued at $634,882,000 after acquiring an additional 7,122,991 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,137,374,604.60. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chairman now 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 Matt Blunt sold 100,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 985,000 shares of company stock worth $55,519,950 over the last ninety days. Company insiders own 10.23% of the company’s stock.

Copart Stock Down 0.6 %

Shares of CPRT opened at $52.88 on Friday. The business’s 50-day moving average price is $54.34 and its 200-day moving average price is $50.05. Copart, Inc. has a twelve month low of $38.35 and a twelve month high of $58.58. The stock has a market cap of $50.84 billion, a PE ratio of 38.04 and a beta of 1.22.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Analysts expect that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CPRT. JPMorgan Chase & Co. boosted their price objective on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. StockNews.com cut Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.00.

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.