Zurcher Kantonalbank Zurich Cantonalbank Has $768,000 Stock Holdings in CorVel Co. (NASDAQ:CRVL)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 297.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,900 shares of the business services provider's stock after acquiring an additional 5,163 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in CorVel were worth $768,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CRVL. Advisors Asset Management Inc. boosted its stake in CorVel by 121.7% in the third quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider's stock valued at $67,000 after acquiring an additional 112 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of CorVel in the 3rd quarter valued at $88,000. Fifth Third Bancorp boosted its position in shares of CorVel by 45.9% in the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider's stock worth $36,000 after purchasing an additional 101 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of CorVel during the fourth quarter worth $37,000. Finally, US Bancorp DE increased its holdings in CorVel by 225.4% in the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider's stock valued at $43,000 after purchasing an additional 266 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut CorVel from a "buy" rating to a "hold" rating in a report on Thursday, March 13th.

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CorVel Stock Down 0.8 %

NASDAQ CRVL traded down $0.87 during trading on Tuesday, reaching $110.10. 81,921 shares of the stock traded hands, compared to its average volume of 106,519. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 64.77 and a beta of 1.06. The stock's 50-day moving average price is $112.12 and its 200 day moving average price is $114.32.

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

Insider Activity

In other CorVel news, CFO Brandon O'brien sold 1,523 shares of CorVel stock in a transaction dated Tuesday, February 11th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available through 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 transaction, the director now directly owns 314,000 shares of the company's stock, valued at $38,772,720. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,200 shares of company stock worth $3,824,115 in the last 90 days. Corporate insiders own 47.57% of the company's stock.

About CorVel

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.