HWG Holdings LP Invests $3.82 Million in Copart, Inc. (NASDAQ:CPRT)

HWG Holdings LP bought a new position in Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, Holdings Channel.com reports. The fund bought 70,444 shares of the business services provider’s stock, valued at approximately $3,815,000. Copart accounts for about 1.4% of HWG Holdings LP’s portfolio, making the stock its 16th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of CPRT. Perpetual Ltd grew its position in shares of Copart by 9.6% during the 1st quarter. Perpetual Ltd now owns 161,318 shares of the business services provider’s stock valued at $9,344,000 after buying an additional 14,126 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Copart by 44.1% during the 1st quarter. Nordea Investment Management AB now owns 2,078,277 shares of the business services provider’s stock valued at $120,602,000 after buying an additional 636,438 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of Copart by 15.9% during the 4th quarter. Baird Financial Group Inc. now owns 2,922,176 shares of the business services provider’s stock valued at $143,187,000 after buying an additional 400,940 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in shares of Copart by 40.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock valued at $2,199,000 after buying an additional 10,959 shares during the last quarter. Finally, Motco grew its position in shares of Copart by 6,085.7% during the 1st quarter. Motco now owns 10,392 shares of the business services provider’s stock valued at $602,000 after buying an additional 10,224 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird reduced their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Copart Stock Down 0.1 %

Copart stock opened at $52.06 on Monday. The firm has a 50-day moving average price of $51.38 and a two-hundred day moving average price of $53.59. The firm has a market capitalization of $50.10 billion, a price-to-earnings ratio of 36.66 and a beta of 1.27. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $1.07 billion during 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 company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. Research analysts expect that Copart, Inc. will post 1.54 earnings per share for the current 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.