Deutsche Bank AG Raises Stake in CorVel Co. (NASDAQ:CRVL)

Deutsche Bank AG raised its position in CorVel Co. (NASDAQ:CRVL - Free Report) by 346.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,237 shares of the business services provider's stock after buying an additional 18,814 shares during the period. Deutsche Bank AG's holdings in CorVel were worth $2,697,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of CorVel by 380.8% during the 3rd quarter. Barclays PLC now owns 15,977 shares of the business services provider's stock valued at $5,223,000 after acquiring an additional 12,654 shares during the period. Franklin Resources Inc. boosted its position in CorVel by 9.9% during the third quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider's stock worth $614,000 after purchasing an additional 173 shares in the last quarter. Ballentine Partners LLC grew its holdings in CorVel by 211.0% in the fourth quarter. Ballentine Partners LLC now owns 2,429 shares of the business services provider's stock valued at $270,000 after purchasing an additional 1,648 shares during the period. Nisa Investment Advisors LLC grew its holdings in CorVel by 217.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 555 shares of the business services provider's stock valued at $62,000 after purchasing an additional 380 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of CorVel by 322.2% in the fourth quarter. SG Americas Securities LLC now owns 1,520 shares of the business services provider's stock valued at $169,000 after buying an additional 1,160 shares in the last quarter. Hedge funds and other institutional investors own 51.36% of the company's stock.

Analyst Ratings Changes

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

CorVel Trading Up 2.0%

CRVL traded up $2.22 during midday trading on Tuesday, hitting $112.58. 163,426 shares of the company traded hands, compared to its average volume of 120,569. The business has a 50 day simple moving average of $112.13 and a two-hundred day simple moving average of $116.64. CorVel Co. has a 52-week low of $76.53 and a 52-week high of $128.61. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 66.22 and a beta of 1.10.

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

Insider Activity

In related news, Director Jeffrey J. Michael sold 16,523 shares of the stock in a transaction 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 completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 47.57% of the company's stock.

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.