CorVel (NASDAQ:CRVL) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of CorVel (NASDAQ:CRVL) from a hold rating to a buy rating in a research report sent to investors on Monday.

CorVel Trading Up 1.7 %

NASDAQ:CRVL traded up $4.97 on Monday, hitting $295.36. The company’s stock had a trading volume of 32,692 shares, compared to its average volume of 37,833. The stock has a fifty day moving average of $263.28 and a two-hundred day moving average of $252.47. The firm has a market capitalization of $5.07 billion, a P/E ratio of 67.44 and a beta of 1.08. CorVel has a one year low of $187.92 and a one year high of $321.46.

CorVel (NASDAQ:CRVL) last released its quarterly earnings data on Tuesday, July 30th. The business services provider reported $1.25 earnings per share (EPS) for the quarter. The firm had revenue of $211.72 million for the quarter. CorVel had a return on equity of 33.26% and a net margin of 9.55%.

Insider Buying and Selling at CorVel

In other news, major shareholder Corstar Holdings Inc sold 23,429 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $264.90, for a total transaction of $6,206,342.10. Following the transaction, the insider now owns 6,309,958 shares in the company, valued at $1,671,507,874.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman V Gordon Clemons sold 2,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $277.00, for a total transaction of $554,000.00. Following the transaction, the chairman now owns 266,584 shares in the company, valued at $73,843,768. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Corstar Holdings Inc sold 23,429 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $264.90, for a total value of $6,206,342.10. Following the transaction, the insider now owns 6,309,958 shares in the company, valued at approximately $1,671,507,874.20. The disclosure for this sale can be found here. Insiders have sold 62,152 shares of company stock worth $16,557,725 over the last 90 days. Company insiders own 47.57% of the company’s stock.

Institutional Investors Weigh In On CorVel

A number of large investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its position in CorVel by 41.8% during the second quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock worth $29,464,000 after buying an additional 34,155 shares in the last quarter. Norges Bank acquired a new stake in CorVel during the fourth quarter worth approximately $19,974,000. Bank of New York Mellon Corp grew its position in CorVel by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 73,617 shares of the business services provider’s stock worth $18,719,000 after buying an additional 1,479 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in CorVel by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,569 shares of the business services provider’s stock worth $18,187,000 after buying an additional 2,252 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in CorVel by 997.8% during the first quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock worth $12,351,000 after buying an additional 42,696 shares in the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

About CorVel

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.