Copart, Inc. $CPRT Shares Acquired by Hixon Zuercher LLC

Hixon Zuercher LLC lifted its position in Copart, Inc. (NASDAQ:CPRT) by 45.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,672 shares of the business services provider’s stock after acquiring an additional 37,255 shares during the period. Copart accounts for 1.2% of Hixon Zuercher LLC’s holdings, making the stock its 29th largest position. Hixon Zuercher LLC’s holdings in Copart were worth $3,940,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after buying an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Copart by 365.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 878 shares in the last quarter. Jump Financial LLC purchased a new stake in Copart during the 2nd quarter valued at about $2,677,000. Sei Investments Co. raised its holdings in Copart by 110.0% in the 2nd quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after acquiring an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Copart by 3.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after purchasing an additional 13,860 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

NASDAQ:CPRT opened at $29.60 on Wednesday. The firm has a market capitalization of $27.40 billion, a price-to-earnings ratio of 18.39 and a beta of 1.00. The company’s 50-day moving average is $32.42 and its two-hundred day moving average is $35.74. Copart, Inc. has a 1-year low of $29.41 and a 1-year high of $50.11.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS. As a group, equities analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CPRT. Jefferies Financial Group set a $45.00 target price on Copart in a report on Friday, May 22nd. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Copart has a consensus rating of “Hold” and a consensus target price of $44.50.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.60% of the company’s stock.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.