7,617 Shares in CorVel Co. (NASDAQ:CRVL) Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D bought a new stake in shares of CorVel Co. (NASDAQ:CRVL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,617 shares of the business services provider’s stock, valued at approximately $1,937,000.

A number of other institutional investors have also recently made changes to their positions in CRVL. Assenagon Asset Management S.A. boosted its holdings in CorVel by 41.8% in the second quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock worth $29,464,000 after purchasing an additional 34,155 shares during the last quarter. Norges Bank purchased a new position in shares of CorVel in the 4th quarter worth $19,974,000. Bank of New York Mellon Corp boosted its stake in shares of CorVel by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 73,617 shares of the business services provider’s stock worth $18,719,000 after buying an additional 1,479 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CorVel by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,569 shares of the business services provider’s stock worth $18,187,000 after acquiring an additional 2,252 shares during the period. Finally, Janus Henderson Group PLC increased its position in CorVel by 997.8% during the first quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock valued at $12,351,000 after acquiring an additional 42,696 shares during the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

CorVel Trading Up 0.3 %

CRVL opened at $317.30 on Friday. The firm’s 50 day simple moving average is $305.42 and its two-hundred day simple moving average is $268.78. The company has a market capitalization of $5.45 billion, a PE ratio of 72.11 and a beta of 1.08. CorVel Co. has a 1-year low of $187.92 and a 1-year high of $325.00.

CorVel (NASDAQ:CRVL) last released its earnings results on Tuesday, July 30th. The business services provider reported $1.25 earnings per share for the quarter. The company had revenue of $211.72 million for the quarter. CorVel had a return on equity of 32.25% and a net margin of 9.55%.

Insider Activity at CorVel

In other CorVel news, CEO Michael G. Combs sold 2,473 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $300.99, for a total transaction of $744,348.27. Following the sale, the chief executive officer now owns 16,823 shares in the company, valued at approximately $5,063,554.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director R Judd Jessup sold 2,131 shares of CorVel stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $295.21, for a total transaction of $629,092.51. Following the sale, the director now owns 43,277 shares of the company’s stock, valued at approximately $12,775,803.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael G. Combs sold 2,473 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $300.99, for a total value of $744,348.27. Following the completion of the transaction, the chief executive officer now owns 16,823 shares of the company’s stock, valued at $5,063,554.77. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,431 shares of company stock worth $19,961,847. 47.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, August 31st.

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.