Stephens Investment Management Group LLC Acquires 37,875 Shares of Copart, Inc. (NASDAQ:CPRT)

Stephens Investment Management Group LLC boosted its holdings in Copart, Inc. (NASDAQ:CPRT) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 550,276 shares of the business services provider’s stock after buying an additional 37,875 shares during the period. Stephens Investment Management Group LLC owned approximately 0.06% of Copart worth $28,834,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Optimum Investment Advisors lifted its stake in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 300 shares during the period. Eastern Bank acquired a new position in Copart in the third quarter valued at about $29,000. Crewe Advisors LLC boosted its holdings in Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after buying an additional 280 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after buying an additional 425 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Copart by 477.7% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 492 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Trading Down 1.6 %

Shares of Copart stock opened at $51.47 on Friday. The stock’s fifty day simple moving average is $52.29 and its 200 day simple moving average is $53.03. The company has a market capitalization of $49.59 billion, a PE ratio of 37.03 and a beta of 1.27. Copart, Inc. has a 12 month low of $42.83 and a 12 month high of $58.58.

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

Analyst Upgrades and Downgrades

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

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.