The Manufacturers Life Insurance Company Lowers Position in Copart, Inc. (NASDAQ:CPRT)

The Manufacturers Life Insurance Company trimmed its position in shares of Copart, Inc. (NASDAQ:CPRTFree Report) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 596,351 shares of the business services provider’s stock after selling 8,550 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Copart worth $29,221,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Rathbones Group PLC raised its position in shares of Copart by 2.9% in the fourth quarter. Rathbones Group PLC now owns 7,821 shares of the business services provider’s stock worth $383,000 after acquiring an additional 221 shares during the period. Panagora Asset Management Inc. increased its position in shares of Copart by 0.9% in the fourth quarter. Panagora Asset Management Inc. now owns 25,133 shares of the business services provider’s stock valued at $1,232,000 after buying an additional 226 shares in the last quarter. Savant Capital LLC raised its stake in shares of Copart by 3.8% during the 4th quarter. Savant Capital LLC now owns 6,933 shares of the business services provider’s stock worth $340,000 after buying an additional 251 shares during the period. First Citizens Bank & Trust Co. increased its holdings in Copart by 3.6% in the 4th quarter. First Citizens Bank & Trust Co. now owns 7,729 shares of the business services provider’s stock worth $379,000 after acquiring an additional 268 shares in the last quarter. Finally, BSW Wealth Partners lifted its holdings in Copart by 4.1% during the fourth quarter. BSW Wealth Partners now owns 6,972 shares of the business services provider’s stock valued at $342,000 after purchasing an additional 277 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Trading Up 0.5 %

NASDAQ CPRT opened at $53.76 on Friday. The stock has a fifty day simple moving average of $54.78 and a 200-day simple moving average of $52.10. The stock has a market cap of $51.73 billion, a PE ratio of 37.86 and a beta of 1.26. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58.

Copart (NASDAQ:CPRTGet Free Report) last announced its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Copart had a net margin of 33.33% and a return on equity of 20.80%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the business earned $0.36 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. Research analysts predict that Copart, Inc. will post 1.43 EPS for the current year.

Insider Buying and Selling

In other news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the sale, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction dated 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 transaction, the director now owns 35,000 shares in the company, valued at approximately $1,934,450. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the sale, the chairman now directly owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. 10.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. raised their price objective on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $51.00.

Check Out Our Latest Stock Analysis on CPRT

Copart Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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