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

Stephens Investment Management Group LLC boosted its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 7.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 550,276 shares of the business services provider's stock after acquiring an additional 37,875 shares during the quarter. 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 have also recently added to or reduced their stakes in the stock. Cadence Bank grew its holdings in Copart by 0.6% during the 1st quarter. Cadence Bank now owns 31,371 shares of the business services provider's stock worth $1,817,000 after acquiring an additional 187 shares during the last quarter. WASHINGTON TRUST Co boosted its stake in shares of Copart by 0.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider's stock valued at $3,350,000 after purchasing an additional 200 shares during the last quarter. Spinnaker Trust boosted its stake in shares of Copart by 4.0% in the 2nd quarter. Spinnaker Trust now owns 5,222 shares of the business services provider's stock valued at $283,000 after purchasing an additional 200 shares during the last quarter. Values First Advisors Inc. boosted its stake in shares of Copart by 2.9% in the 2nd quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider's stock valued at $384,000 after purchasing an additional 201 shares during the last quarter. Finally, Duncan Williams Asset Management LLC boosted its stake in shares of Copart by 1.3% in the 3rd 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 last quarter. Institutional investors own 85.78% of the company's stock.

Copart Stock Performance

CPRT stock traded up $0.02 during mid-day trading on Friday, hitting $51.49. 5,209,661 shares of the company were exchanged, compared to its average volume of 4,439,196. The firm has a market cap of $49.60 billion, a P/E ratio of 37.03 and a beta of 1.27. The firm's 50 day simple moving average is $52.29 and its 200 day simple moving average is $53.03. Copart, Inc. has a 1-year low of $44.05 and a 1-year high of $58.58.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The business's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $0.34 earnings per share. On average, equities research 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.

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.