Zacks Investment Management bought a new stake in Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 35,085 shares of the business services provider’s stock, valued at approximately $1,115,000.

A number of other institutional investors have also bought and sold shares of CPRT. Vanguard Group Inc. increased its position in Copart by 103.5% during the second quarter. Vanguard Group Inc. now owns 16,180,796 shares of the business services provider’s stock worth $514,387,000 after buying an additional 8,230,677 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Copart by 103.6% during the 2nd quarter. BlackRock Inc. now owns 16,093,508 shares of the business services provider’s stock worth $511,611,000 after acquiring an additional 8,189,852 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Copart by 91.4% during the 2nd quarter. William Blair Investment Management LLC now owns 10,526,463 shares of the business services provider’s stock worth $334,636,000 after acquiring an additional 5,025,918 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Copart by 106.5% during the 2nd quarter. Principal Financial Group Inc. now owns 7,417,734 shares of the business services provider’s stock worth $235,810,000 after acquiring an additional 3,826,242 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Copart by 127.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,556,532 shares of the business services provider’s stock worth $208,433,000 after acquiring an additional 3,672,956 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Copart, Inc. (NASDAQ:CPRT) opened at 34.37 on Monday. Copart, Inc. has a 52 week low of $25.37 and a 52 week high of $34.85. The stock’s 50 day moving average price is $31.93 and its 200-day moving average price is $36.82. The company has a market cap of $7.93 billion, a price-to-earnings ratio of 20.70 and a beta of 1.19.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Tuesday, September 19th. The business services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.31 by $0.04. Copart had a net margin of 27.23% and a return on equity of 31.83%. The business had revenue of $378.60 million for the quarter, compared to analyst estimates of $355.42 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities research analysts forecast that Copart, Inc. will post $1.42 earnings per share for the current fiscal year.

CPRT has been the topic of a number of research analyst reports. Jefferies Group LLC restated a “hold” rating and issued a $33.00 price target on shares of Copart in a research note on Thursday, July 6th. Robert W. Baird increased their price objective on shares of Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, September 21st. Finally, Zacks Investment Research cut shares of Copart from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd.

TRADEMARK VIOLATION NOTICE: This piece was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of international trademark and copyright law. The correct version of this piece can be accessed at https://www.thecerbatgem.com/2017/10/02/35085-shares-in-copart-inc-cprt-acquired-by-zacks-investment-management.html.

Copart Company Profile

Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT).

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

Receive News & Stock Ratings for Copart Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart Inc. and related stocks with our FREE daily email newsletter.