Argent Capital Management LLC Reduces Holdings in Copart, Inc. (NASDAQ:CPRT)

Argent Capital Management LLC decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,475,336 shares of the business services provider’s stock after selling 22,553 shares during the period. Copart makes up about 2.1% of Argent Capital Management LLC’s investment portfolio, making the stock its 18th largest position. Argent Capital Management LLC’s holdings in Copart were worth $77,308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Copart by 272.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 168,730 shares of the business services provider’s stock worth $9,773,000 after acquiring an additional 123,414 shares during the last quarter. Chesley Taft & Associates LLC lifted its position in shares of Copart by 4.4% during the first quarter. Chesley Taft & Associates LLC now owns 16,075 shares of the business services provider’s stock worth $931,000 after purchasing an additional 680 shares during the last quarter. 180 Wealth Advisors LLC boosted its stake in shares of Copart by 3.3% during the first quarter. 180 Wealth Advisors LLC now owns 25,884 shares of the business services provider’s stock valued at $1,499,000 after purchasing an additional 823 shares during the period. Indiana Trust & Investment Management CO bought a new position in shares of Copart in the first quarter worth about $36,000. Finally, Artemis Investment Management LLP increased its stake in Copart by 39.3% in the 1st quarter. Artemis Investment Management LLP now owns 1,625,716 shares of the business services provider’s stock worth $94,117,000 after buying an additional 458,530 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

Copart Price Performance

Shares of CPRT stock remained flat at $51.36 during mid-day trading on Thursday. The company’s stock had a trading volume of 621,502 shares, compared to its average volume of 4,467,736. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58. The stock has a 50-day moving average of $52.29 and a 200-day moving average of $53.19. The firm has a market capitalization of $49.42 billion, a price-to-earnings ratio of 36.17 and a beta of 1.27.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. Sell-side analysts predict that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

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.