Hixon Zuercher LLC Buys 13,696 Shares of Copart, Inc. (NASDAQ:CPRT)

Hixon Zuercher LLC lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 23.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,119 shares of the business services provider's stock after acquiring an additional 13,696 shares during the quarter. Copart accounts for about 1.5% of Hixon Zuercher LLC's investment portfolio, making the stock its 29th biggest position. Hixon Zuercher LLC's holdings in Copart were worth $3,779,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CPRT. Bank of New York Mellon Corp increased its stake in Copart by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider's stock valued at $867,017,000 after purchasing an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Copart by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider's stock valued at $427,807,000 after purchasing an additional 30,454 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Copart by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider's stock worth $376,035,000 after acquiring an additional 598,566 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Copart by 28.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider's stock valued at $397,406,000 after purchasing an additional 1,500,466 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in Copart by 9.9% in the first quarter. William Blair Investment Management LLC now owns 5,498,210 shares of the business services provider's stock worth $318,456,000 after acquiring an additional 496,643 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reduced their target price on Copart from $58.00 to $56.00 and set an "outperform" rating for the company in a report on Thursday, September 5th.

Copart Price Performance

Copart stock traded up $2.55 during trading hours on Wednesday, hitting $55.44. The company had a trading volume of 5,500,610 shares, compared to its average volume of 4,432,607. Copart, Inc. has a fifty-two week low of $45.74 and a fifty-two week high of $58.58. The firm has a market capitalization of $53.41 billion, a P/E ratio of 38.05 and a beta of 1.27. The firm's fifty day moving average is $52.26 and its 200-day moving average is $52.99.

Copart (NASDAQ:CPRT - Get Free Report) last announced 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). Copart had a return on equity of 19.55% and a net margin of 32.17%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm earned $0.34 EPS. Copart's quarterly revenue was up 7.2% on a year-over-year basis. Analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current year.

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.