CorVel (NASDAQ:CRVL) Upgraded at StockNews.com

CorVel (NASDAQ:CRVL) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

CorVel Price Performance

Shares of NASDAQ:CRVL opened at $115.09 on Friday. The stock has a market cap of $5.91 billion, a P/E ratio of 67.70 and a beta of 0.94. CorVel has a 1-year low of $76.20 and a 1-year high of $128.61. The firm has a fifty day moving average price of $111.25 and a 200 day moving average price of $115.24.

CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Tuesday, February 4th. The business services provider reported $0.46 earnings per share (EPS) for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

Insider Transactions at CorVel

In related news, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the completion of the transaction, the director now directly owns 314,000 shares of the company’s stock, valued at $38,772,720. This represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brandon O’brien sold 1,523 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $119.56, for a total transaction of $182,089.88. Following the completion of the sale, the chief financial officer now owns 17,142 shares of the company’s stock, valued at approximately $2,049,497.52. The trade was a 8.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,723 shares of company stock worth $5,757,140 over the last 90 days. 47.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CRVL. LGT Financial Advisors LLC lifted its holdings in CorVel by 200.0% in the fourth quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 170 shares during the period. Bessemer Group Inc. increased its holdings in shares of CorVel by 6,350.0% in the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 254 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of CorVel by 45.9% in the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of CorVel in the fourth quarter valued at about $37,000. Finally, US Bancorp DE boosted its holdings in CorVel by 225.4% during the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after buying an additional 266 shares in the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

CorVel Company Profile

CorVel Corporation provides workers’ compensation, auto, liability, and health solutions. It applies technology, including artificial intelligence, machine learning, and natural language processing to enhance the managing of episodes of care and the related health care costs. The company also offers network solutions services, including automated medical fee auditing, preferred provider management and reimbursement, retrospective utilization review, facility claim review, professional review, pharmacy, directed care, clearinghouse, independent medical examination, and inpatient medical bill review services, as well as Medicare solutions.