Montag & Caldwell LLC Cuts Stake in Copart, Inc. (NASDAQ:CPRT)

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Montag & Caldwell LLC lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 46.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,864 shares of the business services provider’s stock after selling 2,452 shares during the period. Montag & Caldwell LLC’s holdings in Copart were worth $214,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Dynamic Capital Management Ltd purchased a new stake in shares of Copart during the first quarter worth about $465,000. TimesSquare Capital Management LLC increased its stake in shares of Copart by 10.9% during the first quarter. TimesSquare Capital Management LLC now owns 1,225,200 shares of the business services provider’s stock worth $74,235,000 after purchasing an additional 120,900 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in shares of Copart during the first quarter worth about $40,000. Zions Bancorporation N.A. purchased a new stake in Copart during the 1st quarter valued at about $335,000. Finally, Dupont Capital Management Corp grew its stake in Copart by 11.5% during the 2nd quarter. Dupont Capital Management Corp now owns 57,756 shares of the business services provider’s stock valued at $4,317,000 after acquiring an additional 5,956 shares in the last quarter. 83.78% of the stock is owned by institutional investors and hedge funds.

In other news, EVP William E. Franklin sold 100,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $71.37, for a total value of $7,137,000.00. Following the completion of the sale, the executive vice president now owns 67,967 shares of the company’s stock, valued at approximately $4,850,804.79. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider William E. Franklin sold 8,993 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $75.01, for a total transaction of $674,564.93. Following the completion of the sale, the insider now directly owns 26,960 shares of the company’s stock, valued at approximately $2,022,269.60. The disclosure for this sale can be found here. In the last three months, insiders sold 423,458 shares of company stock valued at $31,198,755. Corporate insiders own 15.99% of the company’s stock.

NASDAQ CPRT traded up $0.28 during trading hours on Thursday, hitting $74.59. 39,116 shares of the company’s stock traded hands, compared to its average volume of 1,215,999. The company’s 50-day moving average is $76.35. Copart, Inc. has a 52-week low of $44.61 and a 52-week high of $79.74. The company has a quick ratio of 1.99, a current ratio of 2.07 and a debt-to-equity ratio of 0.25. The company has a market cap of $17.03 billion, a P/E ratio of 43.18, a PEG ratio of 1.50 and a beta of 0.82.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. Copart had a net margin of 28.12% and a return on equity of 31.33%. The business had revenue of $553.12 million during the quarter, compared to analysts’ expectations of $535.62 million. During the same quarter in the prior year, the company posted $0.52 EPS. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, equities research analysts predict that Copart, Inc. will post 2.21 EPS for the current year.

Several analysts recently issued reports on CPRT shares. BidaskClub cut shares of Copart from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Guggenheim cut shares of Copart from a “buy” rating to a “neutral” rating and set a $67.07 price objective for the company. in a research note on Friday, May 17th. Barrington Research reaffirmed a “hold” rating on shares of Copart in a research note on Friday, May 24th. SunTrust Banks upped their price objective on shares of Copart to $78.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Finally, Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Monday, May 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $66.77.

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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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