Praesidium Investment Management Company LLC Has $119.75 Million Stake in Copart, Inc. (NASDAQ:CPRT)

Praesidium Investment Management Company LLC lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,102,548 shares of the business services provider’s stock after selling 7,929 shares during the quarter. Copart comprises 6.2% of Praesidium Investment Management Company LLC’s investment portfolio, making the stock its 7th largest position. Praesidium Investment Management Company LLC owned about 0.47% of Copart worth $119,748,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CPRT. BlackRock Inc. raised its holdings in shares of Copart by 3.3% during the 1st quarter. BlackRock Inc. now owns 21,047,150 shares of the business services provider’s stock valued at $2,285,932,000 after buying an additional 665,082 shares in the last quarter. Alliancebernstein L.P. increased its stake in Copart by 8.1% in the 1st quarter. Alliancebernstein L.P. now owns 5,914,389 shares of the business services provider’s stock worth $642,362,000 after purchasing an additional 443,023 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Copart by 12.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,568,799 shares of the business services provider’s stock worth $496,217,000 after purchasing an additional 496,064 shares during the period. Geode Capital Management LLC increased its stake in Copart by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 3,657,304 shares of the business services provider’s stock worth $396,174,000 after purchasing an additional 106,231 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Copart by 0.9% in the 1st quarter. JPMorgan Chase & Co. now owns 3,025,822 shares of the business services provider’s stock worth $328,635,000 after purchasing an additional 25,884 shares during the period. Hedge funds and other institutional investors own 79.76% of the company’s stock.

In other Copart news, CEO A Jayson Adair sold 130,000 shares of the business’s stock in a transaction on Monday, July 12th. The stock was sold at an average price of $139.21, for a total value of $18,097,300.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey Liaw sold 47,479 shares of the business’s stock in a transaction on Friday, July 2nd. The stock was sold at an average price of $135.28, for a total value of $6,422,959.12. The disclosure for this sale can be found here. Insiders sold 573,293 shares of company stock worth $77,786,349 over the last three months. Corporate insiders own 12.61% of the company’s stock.

Shares of NASDAQ CPRT traded up $0.74 during mid-day trading on Thursday, hitting $145.14. 15,501 shares of the stock traded hands, compared to its average volume of 909,122. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.54 and a current ratio of 3.63. The stock has a fifty day moving average of $130.43. Copart, Inc. has a 52 week low of $87.75 and a 52 week high of $144.51. The company has a market capitalization of $34.34 billion, a P/E ratio of 41.25 and a beta of 1.03.

Copart (NASDAQ:CPRT) last released its earnings results on Tuesday, May 18th. The business services provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.29. Copart had a return on equity of 28.29% and a net margin of 34.26%. The business had revenue of $733.90 million for the quarter, compared to the consensus estimate of $623.52 million. During the same period in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 33.3% compared to the same quarter last year. Analysts forecast that Copart, Inc. will post 3.57 EPS for the current fiscal year.

Separately, Truist Securities lifted their price target on Copart from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, May 21st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $125.33.

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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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