HWG Holdings LP Grows Stock Position in Copart, Inc. (NASDAQ:CPRT)

HWG Holdings LP increased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,425 shares of the business services provider’s stock after purchasing an additional 4,683 shares during the quarter. Copart accounts for approximately 1.7% of HWG Holdings LP’s holdings, making the stock its 18th biggest position. HWG Holdings LP’s holdings in Copart were worth $5,304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new stake in shares of Copart in the 4th quarter worth $187,000. United Advisor Group LLC raised its holdings in Copart by 20.4% during the fourth quarter. United Advisor Group LLC now owns 9,000 shares of the business services provider’s stock worth $517,000 after purchasing an additional 1,525 shares in the last quarter. Putney Financial Group LLC purchased a new position in Copart during the fourth quarter worth about $3,327,000. Mackenzie Financial Corp lifted its position in Copart by 19.8% in the fourth quarter. Mackenzie Financial Corp now owns 3,514,874 shares of the business services provider’s stock valued at $201,719,000 after purchasing an additional 580,118 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in Copart by 16.8% in the 4th quarter. Toronto Dominion Bank now owns 503,377 shares of the business services provider’s stock valued at $28,889,000 after purchasing an additional 72,294 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Down 11.5%

Shares of NASDAQ CPRT opened at $53.67 on Monday. The stock has a market capitalization of $51.85 billion, a price-to-earnings ratio of 36.02 and a beta of 1.20. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The firm has a 50-day moving average price of $58.90 and a 200 day moving average price of $58.28.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $0.39 EPS. Equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CPRT shares. JPMorgan Chase & Co. cut their target price on Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday. Argus lowered Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Insider Activity at Copart

In other news, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven D. Cohan sold 5,003 shares of the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $60.01, for a total transaction of $300,230.03. The disclosure for this sale can be found here. Insiders sold 200,000 shares of company stock valued at $11,401,000 in the last ninety days. Corporate insiders own 9.68% of the company’s stock.

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.