Copart, Inc. (NASDAQ:CPRT) Holdings Trimmed by Argent Capital Management LLC

Argent Capital Management LLC lowered its position in shares of Copart, Inc. (NASDAQ:CPRT) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,456,320 shares of the business services provider’s stock after selling 19,016 shares during the quarter. Copart accounts for approximately 2.4% of Argent Capital Management LLC’s investment portfolio, making the stock its 15th largest position. Argent Capital Management LLC’s holdings in Copart were worth $83,578,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Cadence Bank lifted its stake in Copart by 0.6% in the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock worth $1,653,000 after acquiring an additional 178 shares in the last quarter. Duncan Williams Asset Management LLC lifted its stake in Copart by 1.3% in the 3rd quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock worth $809,000 after acquiring an additional 203 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its stake in shares of Copart by 2.3% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock worth $529,000 after purchasing an additional 208 shares in the last quarter. Covestor Ltd raised its stake in shares of Copart by 5.1% during the 3rd quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock worth $225,000 after purchasing an additional 209 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Copart by 0.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 27,631 shares of the business services provider’s stock worth $1,447,000 after purchasing an additional 213 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

Insider Transactions at Copart

In other news, Director Matt Blunt sold 50,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is owned by corporate insiders.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $56.40 on Thursday. The firm has a market cap of $54.34 billion, a price-to-earnings ratio of 39.72 and a beta of 1.33. The business’s 50-day simple moving average is $59.05 and its 200-day simple moving average is $54.68. Copart, Inc. has a 52 week low of $47.31 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 EPS. As a group, equities research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

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.