CorVel Co. (NASDAQ:CRVL) Shares Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in CorVel Co. (NASDAQ:CRVL - Free Report) by 199.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,814 shares of the business services provider's stock after buying an additional 3,873 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in CorVel were worth $647,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Boston Trust Walden Corp boosted its holdings in shares of CorVel by 196.8% in 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 acquiring an additional 457,538 shares during the period. Raymond James Financial Inc. purchased a new stake in CorVel in the 4th quarter valued at $25,123,000. Charles Schwab Investment Management Inc. boosted its stake in CorVel by 203.4% during the 4th 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 during the period. Bank of New York Mellon Corp grew its position in CorVel by 184.2% during the 4th quarter. Bank of New York Mellon Corp now owns 183,447 shares of the business services provider's stock worth $20,410,000 after purchasing an additional 118,888 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in CorVel by 210.2% in the fourth quarter. Principal Financial Group Inc. now owns 139,836 shares of the business services provider's stock valued at $15,558,000 after purchasing an additional 94,751 shares during the period. 51.36% of the stock is owned by hedge funds and other institutional investors.

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CorVel Stock Performance

CorVel stock traded down $0.59 during mid-day trading on Friday, reaching $111.36. 81,386 shares of the company were exchanged, compared to its average volume of 111,703. The firm has a market cap of $5.72 billion, a PE ratio of 65.51 and a beta of 1.06. The firm's 50-day simple moving average is $112.25 and its two-hundred day simple moving average is $114.62. 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 posted its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 earnings per share for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

Insider Activity

In other news, Director Steven J. Hamerslag sold 10,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 314,000 shares of the company's stock, valued at $38,772,720. This trade represents a 3.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brandon O'brien sold 1,523 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total value 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 represents a 8.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,200 shares of company stock valued at $3,824,115 over the last quarter. Corporate insiders own 47.57% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of CorVel from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th.

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.