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

The Manufacturers Life Insurance Company decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 534,798 shares of the business services provider’s stock after selling 739 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Copart worth $28,023,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. Optimum Investment Advisors grew its holdings in Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after buying an additional 300 shares in the last quarter. Eastern Bank purchased a new position in Copart during the third quarter valued at $29,000. Crewe Advisors LLC increased its holdings in Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 280 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after purchasing an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Copart by 477.7% during the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 492 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the topic of several research reports. JPMorgan Chase & Co. lifted their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird reduced their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

Copart Stock Down 0.2 %

Shares of NASDAQ:CPRT opened at $63.39 on Friday. The firm has a fifty day simple moving average of $54.82 and a two-hundred day simple moving average of $53.44. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $64.38. The stock has a market capitalization of $61.08 billion, a P/E ratio of 44.83 and a beta of 1.27.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 18.96% and a net margin of 31.92%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business posted $0.34 EPS. The company’s revenue was up 7.2% on a year-over-year basis. On average, analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the transaction, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.68% of the company’s stock.

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.