CorVel (NASDAQ:CRVL) Sets New 12-Month High at $324.93

CorVel Co. (NASDAQ:CRVL)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $324.93 and last traded at $324.20, with a volume of 8967 shares changing hands. The stock had previously closed at $316.93.

Analysts Set New Price Targets

Separately, StockNews.com lowered CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, August 31st.

CorVel Stock Up 0.1 %

The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 71.63 and a beta of 1.08. The company has a 50 day moving average of $303.33 and a 200 day moving average of $267.64.

CorVel (NASDAQ:CRVL) last released its earnings results on Tuesday, July 30th. The business services provider reported $1.25 EPS for the quarter. The firm had revenue of $211.72 million during the quarter. CorVel had a return on equity of 32.25% and a net margin of 9.55%.

Insider Activity at CorVel

In other CorVel news, CFO Brandon O’brien sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $314.98, for a total transaction of $314,980.00. Following the completion of the sale, the chief financial officer now directly owns 6,502 shares in the company, valued at $2,047,999.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CorVel news, CFO Brandon O’brien sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $314.98, for a total transaction of $314,980.00. Following the completion of the sale, the chief financial officer now directly owns 6,502 shares in the company, valued at $2,047,999.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Corstar Holdings Inc sold 10,649 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $261.36, for a total value of $2,783,222.64. Following the sale, the insider now owns 6,333,387 shares of the company’s stock, valued at $1,655,294,026.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,431 shares of company stock worth $19,961,847. 47.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CorVel

A number of large investors have recently modified their holdings of CRVL. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in CorVel by 1.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider’s stock valued at $489,631,000 after purchasing an additional 21,673 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in CorVel by 41.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock valued at $29,464,000 after purchasing an additional 34,155 shares in the last quarter. Norges Bank acquired a new stake in CorVel during the 4th quarter valued at approximately $19,974,000. Bank of New York Mellon Corp grew its stake in CorVel by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 73,617 shares of the business services provider’s stock valued at $18,719,000 after purchasing an additional 1,479 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in CorVel by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,569 shares of the business services provider’s stock valued at $18,187,000 after purchasing an additional 2,252 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.