Armstrong Advisory Group Inc. Reduces Holdings in Copart, Inc. (NASDAQ:CPRT)

Armstrong Advisory Group Inc. lowered its position in Copart, Inc. (NASDAQ:CPRT) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,368 shares of the business services provider’s stock after selling 366 shares during the quarter. Copart comprises about 0.7% of Armstrong Advisory Group Inc.’s portfolio, making the stock its 26th largest position. Armstrong Advisory Group Inc.’s holdings in Copart were worth $8,170,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CPRT. Cadence Bank boosted its holdings in Copart by 0.6% during the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock valued at $1,653,000 after acquiring an additional 178 shares during the period. Duncan Williams Asset Management LLC boosted its stake in shares of Copart by 1.3% during the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock valued at $809,000 after purchasing an additional 203 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in shares of Copart by 2.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock worth $529,000 after purchasing an additional 208 shares during the last quarter. Covestor Ltd increased its stake in Copart by 5.1% in the 3rd quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock worth $225,000 after buying an additional 209 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in Copart by 0.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 27,631 shares of the business services provider’s stock valued at $1,447,000 after buying an additional 213 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Activity

In other Copart news, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the sale, the director now owns 7,850 shares of the company’s stock, valued at approximately $485,601. This trade represents a 91.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 650,213 shares of company stock worth $39,199,813. Corporate insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.

Copart Trading Up 0.3 %

CPRT opened at $56.40 on Thursday. The company has a market capitalization of $54.34 billion, a price-to-earnings ratio of 39.72 and a beta of 1.31. Copart, Inc. has a 12-month low of $47.31 and a 12-month high of $64.38. The business’s fifty day simple moving average is $59.03 and its 200-day simple moving average is $54.66.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the business earned $0.34 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities research analysts predict that Copart, Inc. will post 1.57 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.