Argent Capital Management LLC Sells 22,553 Shares of Copart, Inc. (NASDAQ:CPRT)

Argent Capital Management LLC trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,475,336 shares of the business services provider’s stock after selling 22,553 shares during the quarter. Copart comprises approximately 2.1% of Argent Capital Management LLC’s holdings, making the stock its 18th biggest position. Argent Capital Management LLC owned about 0.15% of Copart worth $77,308,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC purchased a new stake in shares of Copart during the second quarter worth about $109,382,000. Price T Rowe Associates Inc. MD grew its holdings in Copart by 28.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock valued at $397,406,000 after buying an additional 1,500,466 shares in the last quarter. TD Asset Management Inc raised its position in shares of Copart by 43.3% during the first quarter. TD Asset Management Inc now owns 4,862,147 shares of the business services provider’s stock valued at $281,616,000 after buying an additional 1,469,292 shares during the last quarter. Kimelman & Baird LLC bought a new stake in Copart in the 2nd quarter valued at $70,307,000. Finally, Bank of New York Mellon Corp grew its position in shares of Copart by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock valued at $867,017,000 after purchasing an additional 1,199,781 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird dropped their price target on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Copart Stock Performance

Copart stock remained flat at $51.36 during mid-day trading on Thursday. 621,502 shares of the company were exchanged, compared to its average volume of 4,467,736. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58. The firm’s 50-day moving average price is $52.29 and its 200 day moving average price is $53.19. The stock has a market capitalization of $49.42 billion, a P/E ratio of 36.17 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 earnings per share. As a group, sell-side analysts forecast that Copart, Inc. will post 1.54 earnings per share for the current year.

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.