CorVel (NASDAQ:CRVL) Upgraded at StockNews.com

CorVel (NASDAQ:CRVL) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

CorVel Stock Performance

Shares of NASDAQ CRVL traded down $1.55 during midday trading on Thursday, reaching $238.12. 23,992 shares of the stock were exchanged, compared to its average volume of 34,907. The stock has a market capitalization of $4.07 billion, a P/E ratio of 55.12 and a beta of 1.07. The company has a 50 day simple moving average of $244.52 and a 200 day simple moving average of $230.07. CorVel has a twelve month low of $187.92 and a twelve month high of $265.14.

CorVel (NASDAQ:CRVL) last posted its earnings results on Tuesday, January 30th. The business services provider reported $0.99 earnings per share (EPS) for the quarter. CorVel had a return on equity of 34.66% and a net margin of 9.69%. The company had revenue of $202.30 million during the quarter.

Insiders Place Their Bets

In related news, VP Jennifer Yoss sold 1,500 shares of CorVel stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $239.41, for a total value of $359,115.00. Following the completion of the sale, the vice president now owns 512 shares in the company, valued at approximately $122,577.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael G. Combs sold 301 shares of CorVel stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $246.82, for a total value of $74,292.82. Following the completion of the transaction, the chief executive officer now directly owns 21,082 shares in the company, valued at $5,203,459.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jennifer Yoss sold 1,500 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $239.41, for a total value of $359,115.00. Following the sale, the vice president now owns 512 shares in the company, valued at approximately $122,577.92. The disclosure for this sale can be found here. Insiders sold a total of 16,043 shares of company stock valued at $3,960,007 over the last 90 days. 48.71% of the stock is owned by company insiders.

Institutional Trading of CorVel

A number of large investors have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC increased its stake in CorVel by 0.6% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,965,355 shares of the business services provider’s stock valued at $386,487,000 after purchasing an additional 12,250 shares during the last quarter. Boston Trust Walden Corp raised its position in CorVel by 1.0% in the 4th quarter. Boston Trust Walden Corp now owns 280,702 shares of the business services provider’s stock valued at $69,392,000 after purchasing an additional 2,675 shares during the last quarter. Norges Bank acquired a new stake in CorVel during the 4th quarter worth $19,974,000. Charles Schwab Investment Management Inc. increased its stake in CorVel by 3.2% in the fourth 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 during the period. Finally, Raymond James & Associates boosted its stake in shares of CorVel by 34.1% during the third quarter. Raymond James & Associates now owns 59,060 shares of the business services provider’s stock worth $11,614,000 after buying an additional 15,030 shares during the period. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

CorVel Company Profile

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.