Envestnet Portfolio Solutions Inc. Purchases 1,331 Shares of CorVel Co. (NASDAQ:CRVL)

Envestnet Portfolio Solutions Inc. grew its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 135.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,313 shares of the business services provider’s stock after acquiring an additional 1,331 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in CorVel were worth $257,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Boston Trust Walden Corp raised its holdings in shares of CorVel by 196.8% during the fourth quarter. Boston Trust Walden Corp now owns 690,053 shares of the business services provider’s stock valued at $76,775,000 after purchasing an additional 457,538 shares during the period. State Street Corp grew its stake in CorVel by 0.8% in the 3rd quarter. State Street Corp now owns 360,068 shares of the business services provider’s stock valued at $117,703,000 after purchasing an additional 2,959 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in CorVel by 203.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 261,644 shares of the business services provider’s stock valued at $29,111,000 after acquiring an additional 175,408 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of CorVel by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider’s stock worth $83,000,000 after purchasing an additional 9,571 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of CorVel in the 4th quarter worth approximately $25,123,000. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CorVel

In other CorVel news, CFO Brandon O’brien sold 1,523 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $119.56, for a total value of $182,089.88. Following the transaction, the chief financial officer now owns 17,142 shares in the company, valued at approximately $2,049,497.52. The trade was a 8.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the sale, the director now owns 314,000 shares of the company’s stock, valued at approximately $38,772,720. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,200 shares of company stock valued at $3,824,115. Insiders own 47.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut CorVel from a “buy” rating to a “hold” rating in a report on Thursday, March 13th.

CorVel Price Performance

Shares of NASDAQ:CRVL opened at $111.36 on Friday. The company’s fifty day moving average price is $112.25 and its 200-day moving average price is $114.42. CorVel Co. has a one year low of $76.20 and a one year high of $128.61. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 65.51 and a beta of 1.06.

CorVel (NASDAQ:CRVL) last issued its 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%.

About CorVel

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.