Canada Pension Plan Investment Board Invests $1.08 Million in CorVel Corp. $CRVL

Key Points

• Canada Pension Plan Investment Board acquired 17,300 CorVel shares in the second quarter, worth approximately $1.08 million. Institutional investors and hedge funds collectively own 51.36% of CRVL.
• CorVel reported quarterly revenue of $259.93 million and earnings of $0.63 per share, alongside an 11.72% net margin and 29.92% return on equity. Analysts maintain a consensus “Hold” rating.
• CRVL opened at $68.88, with a market capitalization of $3.51 billion and a price-to-earnings ratio of 30.61. Company insiders have sold 16,174 shares worth about $1.03 million over the past 90 days.

Canada Pension Plan Investment Board bought a new stake in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 17,300 shares of the business services provider's stock, valued at approximately $1,082,000.

Several other large investors have also recently made changes to their positions in CRVL. BlackRock Inc. acquired a new position in shares of CorVel in the second quarter worth about $321,316,000. State Street Corp grew its position in shares of CorVel by 2.7% during the 4th quarter. State Street Corp now owns 1,179,572 shares of the business services provider's stock valued at $79,822,000 after acquiring an additional 30,987 shares during the period. Geode Capital Management LLC grew its position in shares of CorVel by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 927,845 shares of the business services provider's stock valued at $62,796,000 after acquiring an additional 28,666 shares during the period. Norges Bank purchased a new position in shares of CorVel in the 4th quarter valued at about $29,250,000. Finally, Algert Global LLC raised its holdings in CorVel by 67.0% in the 2nd quarter. Algert Global LLC now owns 383,419 shares of the business services provider's stock worth $23,971,000 after purchasing an additional 153,877 shares during the period. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRVL. Weiss Ratings upgraded CorVel from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 16th. Wall Street Zen upgraded CorVel from a "hold" rating to a "buy" rating in a research report on Saturday, May 30th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, CorVel currently has a consensus rating of "Hold".

CorVel Stock Down 0.5%

CRVL opened at $68.88 on Tuesday. The company has a market cap of $3.51 billion, a PE ratio of 30.61 and a beta of 0.98. CorVel Corp. has a twelve month low of $44.83 and a twelve month high of $93.45. The company has a 50-day moving average price of $63.63 and a 200 day moving average price of $58.46.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.63 earnings per share (EPS) for the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.72%.The company had revenue of $259.93 million for the quarter.

Insider Transactions at CorVel

In related news, Director R Judd Jessup sold 1,562 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $70.71, for a total transaction of $110,449.02. Following the completion of the sale, the director directly owned 117,083 shares in the company, valued at approximately $8,278,938.93. The trade was a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jennifer Yoss sold 2,100 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $70.92, for a total value of $148,932.00. Following the completion of the transaction, the vice president directly owned 2,173 shares of the company's stock, valued at approximately $154,109.16. This represents a 49.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 16,174 shares of company stock worth $1,033,676. 39.72% of the stock is owned by insiders.

CorVel Profile

CorVel Corporation NASDAQ: CRVL is a technology-driven provider of workers' compensation, liability, and specialty risk management solutions. The company develops and deploys software and data analytics tools to streamline claims administration, medical cost containment, prescription drug management, and provider network access. CorVel's integrated platform connects employers, insurers, healthcare providers, and injured workers, aiming to improve outcomes and control costs through process automation and real-time decision support.

The company's product suite includes claims lifecycle management, bill review and negotiation, virtual care and telehealth services, pharmacy benefit management, and independent medical examinations (IMEs).

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