Pictet Asset Management Holding SA Has $456,000 Stock Position in CorVel Co. (NASDAQ:CRVL)

Pictet Asset Management Holding SA raised its stake in CorVel Co. (NASDAQ:CRVL - Free Report) by 264.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,095 shares of the business services provider's stock after buying an additional 2,970 shares during the quarter. Pictet Asset Management Holding SA's holdings in CorVel were worth $456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in 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. Boston Trust Walden Corp raised its stake in CorVel by 196.8% during the 4th quarter. Boston Trust Walden Corp now owns 690,053 shares of the business services provider's stock valued at $76,775,000 after acquiring an additional 457,538 shares in the last quarter. Norges Bank bought a new stake in CorVel during the 4th quarter valued at $41,393,000. Raymond James Financial Inc. acquired a new position in CorVel during the 4th quarter worth $25,123,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $29,111,000 after purchasing an additional 175,408 shares in the last quarter. Institutional investors and hedge funds own 51.36% of the company's stock.

Insider Activity

In other CorVel news, Director Steven J. Hamerslag sold 10,000 shares of CorVel stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $123.48, for a total value of $1,234,800.00. Following the transaction, the director now owns 314,000 shares in the company, valued at approximately $38,772,720. The trade was a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brandon O'brien sold 1,523 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $119.56, for a total value of $182,089.88. Following the sale, the chief financial officer now owns 17,142 shares of the company's stock, valued at $2,049,497.52. This trade represents a 8.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,723 shares of company stock worth $5,757,140 over the last 90 days. 47.57% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

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

CorVel Stock Performance

Shares of NASDAQ:CRVL traded up $1.74 during trading on Tuesday, reaching $118.12. The company had a trading volume of 5,350 shares, compared to its average volume of 107,978. The firm's fifty day moving average is $111.36 and its 200 day moving average is $115.16. The firm has a market capitalization of $6.07 billion, a PE ratio of 69.10 and a beta of 0.94. CorVel Co. has a twelve month low of $76.20 and a twelve month high of $128.61.

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

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.