Cerity Partners LLC Purchases 78,606 Shares of CorVel Co. (NASDAQ:CRVL)

Cerity Partners LLC lifted its stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 3,322.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,972 shares of the business services provider's stock after acquiring an additional 78,606 shares during the quarter. Cerity Partners LLC owned about 0.16% of CorVel worth $9,496,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of CorVel by 202.1% during the 4th quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider's stock valued at $365,116,000 after purchasing an additional 2,195,466 shares during the period. Geode Capital Management LLC boosted its stake in CorVel by 205.1% during the fourth quarter. Geode Capital Management LLC now owns 774,653 shares of the business services provider's stock valued at $86,204,000 after buying an additional 520,783 shares in the last quarter. Boston Trust Walden Corp grew its holdings in CorVel by 196.8% during the fourth quarter. Boston Trust Walden Corp now owns 690,053 shares of the business services provider's stock worth $76,775,000 after acquiring an additional 457,538 shares during the period. Norges Bank bought a new stake in CorVel in the fourth quarter worth about $41,393,000. Finally, Wells Fargo & Company MN lifted its holdings in CorVel by 169.3% in the 4th quarter. Wells Fargo & Company MN now owns 447,724 shares of the business services provider's stock valued at $49,814,000 after acquiring an additional 281,471 shares during the last quarter. Institutional investors own 51.36% of the company's stock.

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Insider Buying and Selling at CorVel

In other CorVel news, CFO Brandon O'brien sold 1,523 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total transaction of $182,089.88. Following the transaction, the chief financial officer now directly owns 17,142 shares in the company, valued at $2,049,497.52. This trade represents a 8.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven J. Hamerslag sold 10,000 shares of the company's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $123.48, for a total value 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 trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,723 shares of company stock valued at $5,757,140 in the last 90 days. 47.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of CorVel from a "hold" rating to a "buy" rating in a research note on Tuesday, April 8th.

CorVel Stock Performance

Shares of NASDAQ CRVL traded down $1.37 during trading on Wednesday, hitting $117.29. The company had a trading volume of 23,391 shares, compared to its average volume of 113,342. The company has a market cap of $6.02 billion, a P/E ratio of 68.96 and a beta of 0.94. The business's 50-day moving average is $111.28 and its 200 day moving average is $115.19. CorVel Co. has a 52 week low of $76.20 and a 52 week high of $128.61.

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

CorVel 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.