Bridges Investment Management Inc. Decreases Position in Copart, Inc. (NASDAQ:CPRT)

Bridges Investment Management Inc. reduced its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 822,519 shares of the business services provider's stock after selling 40,763 shares during the period. Bridges Investment Management Inc. owned 0.09% of Copart worth $46,546,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Copart during the 4th quarter worth about $682,089,000. Madison Investment Advisors LLC bought a new position in shares of Copart during the 4th quarter worth about $253,686,000. Edgewood Management LLC boosted its position in shares of Copart by 14.1% during the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock worth $1,346,548,000 after purchasing an additional 2,907,405 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Copart by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider's stock worth $812,488,000 after purchasing an additional 1,785,741 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Copart by 58.8% during the 4th quarter. Franklin Resources Inc. now owns 4,296,060 shares of the business services provider's stock worth $246,551,000 after purchasing an additional 1,590,706 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Copart

In other Copart news, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $60.01, for a total transaction of $5,700,769.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.68% of the stock is currently owned by corporate insiders.

Copart Price Performance

Shares of NASDAQ CPRT traded up $0.63 during trading on Thursday, hitting $48.27. The stock had a trading volume of 4,765,986 shares, compared to its average volume of 4,901,365. Copart, Inc. has a 12 month low of $47.33 and a 12 month high of $64.38. The company has a market capitalization of $46.67 billion, a PE ratio of 31.70 and a beta of 1.07. The firm has a fifty day moving average of $53.56 and a two-hundred day moving average of $55.88.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the firm earned $0.39 EPS. The company's quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CPRT has been the topic of a number of research analyst reports. Stephens initiated coverage on shares of Copart in a research report on Tuesday. They set an "equal weight" rating and a $50.00 price objective on the stock. Argus downgraded Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. Finally, JPMorgan Chase & Co. cut their price target on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd.

Copart 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.