Neuberger Berman Group LLC Buys 567,984 Shares of CorVel Co. (NASDAQ:CRVL)

Neuberger Berman Group LLC increased its holdings in CorVel Co. (NASDAQ:CRVL - Free Report) by 204.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 845,531 shares of the business services provider's stock after acquiring an additional 567,984 shares during the period. Neuberger Berman Group LLC owned about 1.66% of CorVel worth $94,074,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Bessemer Group Inc. grew its holdings in shares of CorVel by 6,350.0% during the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock valued at $29,000 after acquiring an additional 254 shares in the last quarter. Fifth Third Bancorp grew its position in CorVel by 45.9% in the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider's stock worth $36,000 after acquiring an additional 101 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of CorVel during the 4th quarter worth $37,000. US Bancorp DE raised its holdings in shares of CorVel by 225.4% during the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider's stock valued at $43,000 after purchasing an additional 266 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of CorVel by 175.2% in the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider's stock valued at $48,000 after purchasing an additional 275 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised CorVel from a "hold" rating to a "buy" rating in a research report on Tuesday, April 8th.

Insider Transactions at CorVel

In related news, Director Jeffrey J. Michael sold 16,523 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 551,787 shares in the company, valued at approximately $64,553,561.13. This trade represents a 2.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven J. Hamerslag sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $123.48, for a total value of $1,234,800.00. Following the completion of the transaction, the director now directly owns 314,000 shares of the company's stock, valued at approximately $38,772,720. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,723 shares of company stock worth $5,757,140. Company insiders own 47.57% of the company's stock.

CorVel Stock Up 2.5 %

CRVL stock traded up $2.89 during midday trading on Tuesday, hitting $119.27. 45,376 shares of the company traded hands, compared to its average volume of 113,289. CorVel Co. has a twelve month low of $76.20 and a twelve month high of $128.61. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 70.16 and a beta of 0.94. The business has a 50 day simple moving average of $111.36 and a 200-day simple moving average of $115.16.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its 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%.

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.