M&T Bank Corp Reduces Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

M&T Bank Corp lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 39.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,367 shares of the business services provider’s stock after selling 50,259 shares during the period. M&T Bank Corp’s holdings in Copart were worth $3,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. OFI Invest Asset Management purchased a new stake in shares of Copart in the third quarter worth about $25,000. Manchester Capital Management LLC increased its holdings in shares of Copart by 101.0% during the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 314 shares in the last quarter. Bell Investment Advisors Inc lifted its stake in shares of Copart by 87.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 323 shares during the period. Annapolis Financial Services LLC boosted its holdings in Copart by 100.0% during the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock worth $31,000 after buying an additional 360 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new position in Copart in the fourth quarter valued at $34,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Up 0.3 %

Shares of CPRT opened at $55.93 on Wednesday. Copart, Inc. has a 52-week low of $39.28 and a 52-week high of $58.58. The stock has a market cap of $53.78 billion, a PE ratio of 40.24 and a beta of 1.22. The firm’s fifty day moving average is $55.53 and its two-hundred day moving average is $50.95.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.31 EPS. As a group, research analysts anticipate that Copart, Inc. will post 1.42 earnings per share for the current year.

Insider Buying and Selling at Copart

In other news, Director Matt Blunt sold 100,000 shares of Copart stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Matt Blunt sold 100,000 shares of Copart stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at $1,934,450. The disclosure for this sale can be found here. Insiders sold a total of 985,000 shares of company stock worth $55,519,950 in the last three months. 10.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.00.

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.