Manning & Napier Advisors LLC Has $151.60 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Manning & Napier Advisors LLC decreased its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 9.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,641,557 shares of the business services provider's stock after selling 277,935 shares during the period. Copart comprises approximately 1.7% of Manning & Napier Advisors LLC's portfolio, making the stock its 15th biggest holding. Manning & Napier Advisors LLC owned about 0.27% of Copart worth $151,599,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Optimum Investment Advisors grew its stake in shares of Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock worth $27,000 after acquiring an additional 300 shares during the period. Eastern Bank purchased a new stake in shares of Copart in the third quarter worth about $29,000. Quarry LP bought a new stake in Copart in the third quarter worth $29,000. Ashton Thomas Securities LLC purchased a new stake in Copart during the third quarter valued at approximately $33,000. Finally, True Wealth Design LLC lifted its stake in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock worth $34,000 after purchasing an additional 608 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their target price on shares of Copart from $55.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th.

Insider Activity at Copart

In other news, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the sale, the director now owns 20,000 shares of the company's stock, valued at approximately $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 83,310 shares of Copart stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the transaction, the director now owns 7,850 shares of the company's stock, valued at $485,601. The trade was a 91.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is owned by company insiders.

Copart Trading Up 2.2 %

Shares of CPRT stock traded up $1.24 during trading hours on Thursday, hitting $58.56. The company's stock had a trading volume of 3,458,379 shares, compared to its average volume of 3,459,323. The company has a 50 day moving average of $59.18 and a 200 day moving average of $54.88. The stock has a market cap of $56.42 billion, a PE ratio of 41.24 and a beta of 1.33. Copart, Inc. has a 12-month low of $47.92 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. Copart's revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. As a group, analysts anticipate that Copart, Inc. will post 1.57 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.