CorVel (NASDAQ:CRVL) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of CorVel (NASDAQ:CRVL) from a hold rating to a buy rating in a research note issued to investors on Thursday.

CorVel Stock Performance

Shares of CRVL opened at $238.64 on Thursday. The firm has a market cap of $4.08 billion, a P/E ratio of 55.24 and a beta of 1.07. CorVel has a 52 week low of $187.92 and a 52 week high of $265.14. The firm’s 50-day simple moving average is $244.34 and its 200 day simple moving average is $230.50.

CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Tuesday, January 30th. The business services provider reported $0.99 earnings per share for the quarter. The firm had revenue of $202.30 million for the quarter. CorVel had a net margin of 9.69% and a return on equity of 34.66%.

Insider Buying and Selling at CorVel

In other news, Director Jean Macino sold 3,130 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $253.42, for a total transaction of $793,204.60. Following the transaction, the director now directly owns 14,160 shares of the company’s stock, valued at $3,588,427.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael G. Combs sold 301 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $246.82, for a total transaction of $74,292.82. Following the transaction, the chief executive officer now directly owns 21,082 shares of the company’s stock, valued at $5,203,459.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jean Macino sold 3,130 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $253.42, for a total transaction of $793,204.60. Following the transaction, the director now directly owns 14,160 shares in the company, valued at $3,588,427.20. The disclosure for this sale can be found here. Insiders have sold a total of 16,043 shares of company stock valued at $3,960,007 in the last three months. 48.71% of the stock is currently owned by company insiders.

Institutional Trading of CorVel

Several large investors have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of CorVel by 0.6% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,965,355 shares of the business services provider’s stock worth $386,487,000 after acquiring an additional 12,250 shares in the last quarter. Boston Trust Walden Corp boosted its position in shares of CorVel by 1.0% during the 4th quarter. Boston Trust Walden Corp now owns 280,702 shares of the business services provider’s stock worth $69,392,000 after acquiring an additional 2,675 shares in the last quarter. Norges Bank acquired a new stake in shares of CorVel during the 4th quarter worth approximately $19,974,000. Charles Schwab Investment Management Inc. boosted its position in shares of CorVel by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,569 shares of the business services provider’s stock worth $18,187,000 after acquiring an additional 2,252 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of CorVel by 34.1% during the 3rd quarter. Raymond James & Associates now owns 59,060 shares of the business services provider’s stock worth $11,614,000 after acquiring an additional 15,030 shares in the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

About CorVel

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.