M&T Bank Corp Purchases 15,452 Shares of Copart, Inc. (NASDAQ:CPRT)

M&T Bank Corp grew its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 95,598 shares of the business services provider's stock after purchasing an additional 15,452 shares during the period. M&T Bank Corp's holdings in Copart were worth $5,486,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CPRT. Bank of New York Mellon Corp raised its holdings in Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock worth $1,115,664,000 after purchasing an additional 3,667,534 shares during the period. Jensen Investment Management Inc. raised its holdings in shares of Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider's stock worth $185,299,000 after acquiring an additional 3,398,423 shares during the period. Franklin Resources Inc. raised its holdings in shares of Copart by 335.8% during the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider's stock worth $149,471,000 after acquiring an additional 2,084,626 shares during the period. Comgest Global Investors S.A.S. raised its holdings in shares of Copart by 706.6% during the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider's stock worth $83,153,000 after acquiring an additional 1,390,146 shares during the period. Finally, PineStone Asset Management Inc. raised its holdings in shares of Copart by 192.4% during the fourth quarter. PineStone Asset Management Inc. now owns 1,585,400 shares of the business services provider's stock worth $90,986,000 after acquiring an additional 1,043,200 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Copart

In related news, Director Diane M. Morefield sold 30,000 shares of the firm's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the transaction, the director now owns 20,000 shares of the company's stock, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 315,480 shares of company stock valued at $18,007,983. Corporate insiders own 9.68% of the company's stock.

Analyst Upgrades and Downgrades

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

Copart Stock Down 1.7 %

Shares of NASDAQ:CPRT traded down $0.92 during midday trading on Monday, reaching $52.82. 8,140,620 shares of the company were exchanged, compared to its average volume of 4,099,953. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The stock has a fifty day simple moving average of $57.05 and a two-hundred day simple moving average of $56.01. The firm has a market cap of $51.03 billion, a PE ratio of 35.45 and a beta of 1.30.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. As a group, analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current 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.