Congress Asset Management Co. Has $133.43 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Congress Asset Management Co. lessened its position in shares of Copart, Inc. (NASDAQ:CPRT) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,324,988 shares of the business services provider’s stock after selling 298,694 shares during the quarter. Congress Asset Management Co.’s holdings in Copart were worth $133,431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after purchasing an additional 941,858 shares in the last quarter. State Street Corp lifted its position in shares of Copart by 0.4% during the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock worth $1,789,877,000 after buying an additional 120,939 shares during the period. Edgewood Management LLC lifted its position in shares of Copart by 0.6% during the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after buying an additional 125,220 shares during the period. Geode Capital Management LLC lifted its position in shares of Copart by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock worth $979,547,000 after buying an additional 291,580 shares during the period. Finally, Barclays PLC lifted its position in shares of Copart by 0.4% during the 3rd quarter. Barclays PLC now owns 6,042,734 shares of the business services provider’s stock worth $316,639,000 after buying an additional 21,710 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Copart

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the transaction, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of Copart stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the transaction, the director now owns 7,850 shares of the company’s stock, valued at approximately $485,601. The trade was a 91.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by insiders.

Copart Price Performance

Copart stock opened at $59.39 on Friday. The company has a market capitalization of $57.22 billion, a PE ratio of 41.82 and a beta of 1.33. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The business has a 50 day simple moving average of $58.29 and a 200 day simple moving average of $55.43.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company posted $0.34 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

About Copart

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.