Congress Asset Management Co. Sells 73,006 Shares of Copart, Inc. (NASDAQ:CPRT)

Congress Asset Management Co. decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 about 0.27% of Copart worth $137,481,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its position in shares of Copart by 462.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after buying an additional 3,016,795 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Copart in the 2nd quarter worth $109,382,000. Price T Rowe Associates Inc. MD increased its position in Copart by 28.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock valued at $397,406,000 after buying an additional 1,500,466 shares in the last quarter. TD Asset Management Inc boosted its holdings in Copart by 43.3% in the first quarter. TD Asset Management Inc now owns 4,862,147 shares of the business services provider’s stock worth $281,616,000 after acquiring an additional 1,469,292 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in shares of Copart during the second quarter worth about $70,307,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Copart Stock Performance

Shares of Copart stock traded down $0.56 during trading on Thursday, hitting $51.74. 417,821 shares of the company’s stock were exchanged, compared to its average volume of 4,422,009. Copart, Inc. has a 52-week low of $42.83 and a 52-week high of $58.58. The stock has a market capitalization of $49.85 billion, a price-to-earnings ratio of 36.83 and a beta of 1.27. The business has a 50-day simple moving average of $52.30 and a 200-day simple moving average of $53.04.

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