Neuberger Berman Group LLC Increases Stock Holdings in CorVel Co. (NASDAQ:CRVL)

Neuberger Berman Group LLC boosted its stake in CorVel Co. (NASDAQ:CRVL - Free Report) by 204.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 845,531 shares of the business services provider's stock after buying an additional 567,984 shares during the period. Neuberger Berman Group LLC owned 1.66% of CorVel worth $94,074,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in CorVel by 6,350.0% during the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock valued at $29,000 after purchasing an additional 254 shares in the last quarter. Fifth Third Bancorp increased its position in shares of CorVel by 45.9% during the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider's stock valued at $36,000 after acquiring an additional 101 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of CorVel in the fourth quarter worth $37,000. US Bancorp DE increased its holdings in CorVel by 225.4% in the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider's stock worth $43,000 after buying an additional 266 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in CorVel by 175.2% in the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider's stock worth $48,000 after buying an additional 275 shares during the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

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CorVel Stock Performance

Shares of NASDAQ:CRVL traded up $0.96 on Friday, reaching $115.86. The company's stock had a trading volume of 103,434 shares, compared to its average volume of 113,372. The company has a market cap of $5.95 billion, a P/E ratio of 68.15 and a beta of 0.94. CorVel Co. has a 52-week low of $76.20 and a 52-week high of $128.61. The company has a 50-day simple moving average of $111.60 and a 200 day simple moving average of $115.04.

CorVel (NASDAQ:CRVL - Get Free Report) last announced 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%.

Insiders Place Their Bets

In other CorVel news, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction on 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 trade represents a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brandon O'brien sold 1,523 shares of the firm'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 sale, the chief financial officer now directly owns 17,142 shares in the company, valued at approximately $2,049,497.52. The trade was a 8.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,723 shares of company stock worth $5,757,140. 47.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, StockNews.com upgraded CorVel from a "hold" rating to a "buy" rating in a research report on Tuesday.

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.