California State Teachers Retirement System Acquires 17,421 Shares of CorVel Co. (NASDAQ:CRVL)

California State Teachers Retirement System raised its position in CorVel Co. (NASDAQ:CRVL - Free Report) by 196.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,310 shares of the business services provider's stock after purchasing an additional 17,421 shares during the period. California State Teachers Retirement System owned 0.05% of CorVel worth $2,927,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CRVL. LGT Financial Advisors LLC increased its position in shares of CorVel by 200.0% in the fourth quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider's stock worth $28,000 after purchasing an additional 170 shares during the last quarter. Bessemer Group Inc. grew its stake in CorVel by 6,350.0% in the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock worth $29,000 after buying an additional 254 shares in the last quarter. Jones Financial Companies Lllp bought a new position in shares of CorVel in the 4th quarter worth $37,000. US Bancorp DE increased its stake 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 acquiring an additional 266 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of CorVel by 300.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 480 shares of the business services provider's stock valued at $53,000 after buying an additional 360 shares in the last quarter. 51.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

CorVel Stock Performance

NASDAQ:CRVL traded down $1.36 during midday trading on Monday, reaching $108.20. 119,195 shares of the stock traded hands, compared to its average volume of 120,067. The company has a fifty day moving average of $112.07 and a 200 day moving average of $116.20. CorVel Co. has a 12 month low of $76.53 and a 12 month high of $128.61. The stock has a market capitalization of $5.56 billion, a P/E ratio of 63.65 and a beta of 1.02.

CorVel (NASDAQ:CRVL - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.51 EPS for the quarter. The business had revenue of $231.51 million during the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

Insider Activity

In other CorVel news, Director Alan Hoops sold 3,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $113.05, for a total value of $339,150.00. Following the completion of the sale, the director now directly owns 16,688 shares in the company, valued at $1,886,578.40. This trade represents a 15.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey J. Michael sold 16,523 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The stock was 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 in the company, valued at $64,553,561.13. This trade represents a 2.91% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,245 shares of company stock valued at $2,690,457. Company insiders own 47.57% of the company's stock.

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.