M&T Bank Corp Has $5.75 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

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M&T Bank Corp grew its stake in Copart, Inc. (NASDAQ:CPRT) by 6.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,654 shares of the business services provider’s stock after buying an additional 3,267 shares during the quarter. M&T Bank Corp’s holdings in Copart were worth $5,747,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in CPRT. Bessemer Group Inc. boosted its holdings in shares of Copart by 58,845.9% in the second quarter. Bessemer Group Inc. now owns 858,842 shares of the business services provider’s stock valued at $71,515,000 after buying an additional 857,385 shares during the period. Principal Financial Group Inc. lifted its position in shares of Copart by 8.1% in the second quarter. Principal Financial Group Inc. now owns 7,795,422 shares of the business services provider’s stock worth $649,124,000 after purchasing an additional 584,871 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Copart by 48.2% in the second quarter. Nuveen Asset Management LLC now owns 1,317,945 shares of the business services provider’s stock worth $109,745,000 after purchasing an additional 428,641 shares in the last quarter. London Co. of Virginia lifted its position in shares of Copart by 18.9% in the second quarter. London Co. of Virginia now owns 2,225,531 shares of the business services provider’s stock worth $185,320,000 after purchasing an additional 354,426 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Copart by 133.5% in the second quarter. Point72 Asset Management L.P. now owns 616,612 shares of the business services provider’s stock worth $51,345,000 after purchasing an additional 352,496 shares in the last quarter. Institutional investors own 79.67% of the company’s stock.

A number of analysts have recently commented on the stock. Stephens boosted their price objective on shares of Copart from $90.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, August 31st. They noted that the move was a valuation call. Northcoast Research lowered shares of Copart from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. upped their price target on shares of Copart from $88.00 to $101.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. Guggenheim upped their price target on shares of Copart from $97.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, September 4th. They noted that the move was a valuation call. Finally, Truist upped their price target on shares of Copart from $117.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $98.30.

Shares of CPRT opened at $117.71 on Monday. The firm has a market capitalization of $27.70 billion, a PE ratio of 40.17, a PEG ratio of 3.12 and a beta of 1.11. The company’s 50-day moving average is $113.32 and its 200-day moving average is $96.54. Copart, Inc. has a fifty-two week low of $55.69 and a fifty-two week high of $130.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.71 and a quick ratio of 2.65.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, September 2nd. The business services provider reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.31. The company had revenue of $525.66 million for the quarter, compared to analyst estimates of $436.38 million. Copart had a net margin of 31.73% and a return on equity of 27.68%. The company’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. Analysts predict that Copart, Inc. will post 2.89 earnings per share for the current fiscal year.

About Copart

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.

Featured Story: Mutual Funds

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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