Montag A & Associates Inc. Lowers Stock Position in Copart, Inc. (NASDAQ:CPRT)

Montag A & Associates Inc. lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 233,628 shares of the business services provider’s stock after selling 2,620 shares during the period. Montag A & Associates Inc.’s holdings in Copart were worth $13,408,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Creative Planning raised its stake in Copart by 1.2% during the 3rd quarter. Creative Planning now owns 141,602 shares of the business services provider’s stock valued at $7,420,000 after buying an additional 1,646 shares during the last quarter. Optimum Investment Advisors increased its holdings in shares of Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after purchasing an additional 300 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Copart by 2.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 90,061 shares of the business services provider’s stock valued at $4,719,000 after purchasing an additional 1,728 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Copart by 72.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 13,880 shares of the business services provider’s stock worth $727,000 after purchasing an additional 5,837 shares during the period. Finally, Stonegate Investment Group LLC boosted its stake in shares of Copart by 4.9% during the 3rd quarter. Stonegate Investment Group LLC now owns 5,673 shares of the business services provider’s stock worth $297,000 after purchasing an additional 264 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

NASDAQ:CPRT opened at $59.39 on Friday. The company’s fifty day moving average price is $58.29 and its 200-day moving average price is $55.43. The firm has a market capitalization of $57.22 billion, a P/E ratio of 41.82 and a beta of 1.33. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

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

Insider Activity at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This represents a 1.71 % decrease in their position. The sale 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 the business’s stock in a transaction dated 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 transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. This 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 sold 650,213 shares of company stock valued at $39,199,813. Corporate insiders own 9.68% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.