Congress Wealth Management LLC DE Reduces Position in Copart, Inc. (NASDAQ:CPRT)

Congress Wealth Management LLC DE cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 3.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 398,403 shares of the business services provider’s stock after selling 13,438 shares during the period. Congress Wealth Management LLC DE’s holdings in Copart were worth $23,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. Rise Advisors LLC acquired a new position in shares of Copart in the first quarter worth about $28,000. Pinnacle Bancorp Inc. raised its position in shares of Copart by 79.6% in the first quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after acquiring an additional 234 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Copart in the fourth quarter worth about $34,000. Indiana Trust & Investment Management CO acquired a new position in shares of Copart in the first quarter worth about $36,000. Finally, Trust Co. of Vermont acquired a new position in shares of Copart in the fourth quarter worth about $38,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their price objective on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Copart has an average rating of “Hold” and a consensus price target of $51.00.

Copart Stock Performance

Shares of CPRT stock traded down $0.81 on Monday, reaching $53.35. 3,608,968 shares of the company were exchanged, compared to its average volume of 4,524,552. The company has a market cap of $51.34 billion, a price-to-earnings ratio of 37.57 and a beta of 1.26. The business has a 50-day moving average price of $54.27 and a 200 day moving average price of $52.66. Copart, Inc. has a 1 year low of $42.41 and a 1 year high of $58.58.

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