Federated Hermes Inc. Sells 56,446 Shares of Copart, Inc. (NASDAQ:CPRT)

Federated Hermes Inc. cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 4.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,194,300 shares of the business services provider’s stock after selling 56,446 shares during the period. Federated Hermes Inc. owned approximately 0.12% of Copart worth $58,521,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CPRT. Vanguard Group Inc. grew its stake in shares of Copart by 100.6% in the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after acquiring an additional 48,891,984 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Copart by 96.8% in the third quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock valued at $1,715,114,000 after acquiring an additional 19,576,719 shares in the last quarter. Wellington Management Group LLP grew its stake in Copart by 84.4% during the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock worth $772,568,000 after buying an additional 8,205,757 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Copart by 79.1% during the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock worth $748,006,000 after buying an additional 7,666,881 shares in the last quarter. Finally, FMR LLC grew its stake in Copart by 93.6% during the third quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock worth $634,882,000 after buying an additional 7,122,991 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. increased their price objective on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $51.00.

Insider Activity

In other news, Director Thomas N. Tryforos sold 285,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the sale, the director now directly owns 35,000 shares in the company, valued at approximately $1,934,450. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Thomas N. Tryforos sold 285,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the transaction, the director now owns 35,000 shares in the company, valued at approximately $1,934,450. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 985,000 shares of company stock worth $55,519,950. Corporate insiders own 10.23% of the company’s stock.

Copart Trading Down 0.6 %

CPRT opened at $52.88 on Friday. The company’s 50 day moving average is $54.34 and its 200-day moving average is $50.05. Copart, Inc. has a 1-year low of $38.35 and a 1-year high of $58.58. The company has a market cap of $50.84 billion, a P/E ratio of 38.04 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities analysts forecast that Copart, Inc. will post 1.42 EPS for the current year.

About Copart

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.