Envestnet Asset Management Inc. Raises Stake in CorVel Co. (NASDAQ:CRVL)

Envestnet Asset Management Inc. lifted its holdings in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 201.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,447 shares of the business services provider's stock after acquiring an additional 32,386 shares during the quarter. Envestnet Asset Management Inc. owned 0.09% of CorVel worth $5,390,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in CorVel by 202.1% during the fourth 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 last quarter. Geode Capital Management LLC raised its position in shares of CorVel by 205.1% in the fourth quarter. Geode Capital Management LLC now owns 774,653 shares of the business services provider's stock valued at $86,204,000 after purchasing an additional 520,783 shares during the period. Boston Trust Walden Corp lifted its stake in shares of 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 buying an additional 457,538 shares in the last quarter. Norges Bank bought a new position in CorVel in the 4th quarter worth approximately $41,393,000. Finally, Wells Fargo & Company MN grew its stake in CorVel by 169.3% in the 4th quarter. Wells Fargo & Company MN now owns 447,724 shares of the business services provider's stock valued at $49,814,000 after buying an additional 281,471 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors.

CorVel Trading Down 0.8 %

Shares of CRVL traded down $0.86 during mid-day trading on Friday, reaching $110.31. The company's stock had a trading volume of 185,999 shares, compared to its average volume of 117,314. CorVel Co. has a 52 week low of $76.53 and a 52 week high of $128.61. The stock has a market cap of $5.67 billion, a PE ratio of 64.89 and a beta of 0.94. The company's fifty day moving average price is $110.59 and its two-hundred day moving average price is $115.55.

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

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of CorVel from a "hold" rating to a "buy" rating in a research report on Friday, April 18th.

Insider Buying and Selling

In other news, Director Steven J. Hamerslag sold 10,000 shares of CorVel 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 sale, the director now directly owns 314,000 shares in the company, valued at approximately $38,772,720. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey J. Michael sold 16,523 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $116.99, for a total value of $1,933,025.77. Following the transaction, the director now owns 551,787 shares of the company's stock, valued at approximately $64,553,561.13. This represents a 2.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,723 shares of company stock worth $5,757,140 in the last ninety days. 47.57% of the stock is owned by insiders.

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.