Stephens Investment Management Group LLC Grows Stake in Copart, Inc. (NASDAQ:CPRT)

Stephens Investment Management Group LLC increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 581,106 shares of the business services provider's stock after purchasing an additional 31,694 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.06% of Copart worth $32,885,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CPRT. Brighton Jones LLC grew its position in shares of Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock worth $816,000 after purchasing an additional 6,817 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Copart during the fourth quarter worth about $234,000. Independent Advisor Alliance grew its position in shares of Copart by 23.9% during the fourth quarter. Independent Advisor Alliance now owns 11,639 shares of the business services provider's stock worth $668,000 after purchasing an additional 2,246 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Copart by 164.2% during the fourth quarter. HighTower Advisors LLC now owns 611,320 shares of the business services provider's stock worth $35,084,000 after purchasing an additional 379,943 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of Copart by 22.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 20,196 shares of the business services provider's stock worth $1,159,000 after purchasing an additional 3,670 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CPRT shares. JPMorgan Chase & Co. dropped 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. Stephens started coverage on Copart in a research note on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price target for the company.

Insider Activity

In other news, Director Steven D. Cohan sold 94,997 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.68% of the stock is owned by insiders.

Copart Trading Down 1.1%

Shares of Copart stock opened at $47.46 on Friday. The stock has a 50 day moving average of $53.03 and a 200 day moving average of $55.71. Copart, Inc. has a 12 month low of $47.33 and a 12 month high of $64.38. The firm has a market cap of $45.89 billion, a PE ratio of 31.22 and a beta of 1.07.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting analysts' consensus estimates of $0.42. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The firm's revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 earnings per share. As a group, equities research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.