Copart, Inc. $CPRT Holdings Decreased by Stephens Investment Management Group LLC

Key Points

• Stephens Investment Management Group LLC decreased its holdings in Copart, Inc. by 17.6%, owning 478,868 shares worth approximately $23.5 million after selling 102,238 shares in the second quarter.
• Copart reported $1.13 billion in revenue during the last quarter, slightly missing the consensus estimate, but beat earnings expectations with $0.41 EPS against a prediction of $0.37.
• Multiple analysts have issued varying ratings on Copart, with a median target price of $54.50, including a “buy” rating from HSBC and a reduced price target to $46.00 from Stephens.

Stephens Investment Management Group LLC decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 17.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 478,868 shares of the business services provider's stock after selling 102,238 shares during the quarter. Stephens Investment Management Group LLC's holdings in Copart were worth $23,498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CPRT. Cloud Capital Management LLC acquired a new stake in Copart during the first quarter valued at $26,000. Atticus Wealth Management LLC acquired a new stake in Copart during the second quarter valued at $31,000. Ameritas Advisory Services LLC acquired a new stake in Copart during the second quarter valued at $31,000. Accent Capital Management LLC acquired a new stake in Copart during the first quarter valued at $36,000. Finally, GFG Capital LLC acquired a new stake in Copart during the second quarter valued at $37,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Stock Down 1.8%

Shares of NASDAQ:CPRT opened at $44.93 on Thursday. The business has a 50 day moving average price of $46.48 and a 200 day moving average price of $50.66. Copart, Inc. has a twelve month low of $43.32 and a twelve month high of $64.38. The company has a market cap of $43.48 billion, a price-to-earnings ratio of 28.08 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company earned $0.33 EPS. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on CPRT shares. Weiss Ratings reissued a "hold (c)" rating on shares of Copart in a research report on Wednesday, October 8th. Stephens reduced their price objective on Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Friday, September 5th. HSBC set a $62.00 price target on Copart and gave the stock a "buy" rating in a research report on Thursday, September 4th. Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. Finally, Robert W. Baird reduced their price target on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $54.50.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the sale, the chief executive officer owned 31,332 shares in the company, valued at $1,403,360.28. This represents a 43.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The disclosure for this sale can be found here. 9.68% of the stock is owned by corporate insiders.

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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