Congress Asset Management Co. MA Has $161.40 Million Stock Position in Copart, Inc. (NASDAQ:CPRT)

Congress Asset Management Co. MA decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 3.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,786,613 shares of the business services provider’s stock after selling 95,254 shares during the period. Copart makes up 1.2% of Congress Asset Management Co. MA’s holdings, making the stock its 18th biggest holding. Congress Asset Management Co. MA’s holdings in Copart were worth $161,401,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in Copart during the 1st quarter worth about $28,000. Fortitude Family Office LLC bought a new stake in Copart during the 4th quarter worth about $34,000. Trust Co. of Vermont bought a new stake in Copart during the 4th quarter worth about $38,000. McGlone Suttner Wealth Management Inc. bought a new stake in Copart during the 4th quarter worth about $40,000. Finally, C M Bidwell & Associates Ltd. raised its holdings in Copart by 100.0% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 872 shares of the business services provider’s stock worth $38,000 after purchasing an additional 436 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In related news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction that occurred on 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 sale, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.23% of the stock is owned by company insiders.

Copart Trading Up 0.4 %

Shares of CPRT stock traded up $0.23 on Friday, reaching $54.24. The company had a trading volume of 5,559,554 shares, compared to its average volume of 3,547,328. The stock has a market cap of $52.20 billion, a PE ratio of 38.20 and a beta of 1.26. The company has a 50-day moving average of $54.18 and a 200-day moving average of $52.36. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. Copart’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS. Sell-side analysts anticipate that Copart, Inc. will post 1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their price objective on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Copart currently has an average rating of “Hold” and an average price target of $51.00.

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.