Public Employees Retirement Association of Colorado Decreases Stock Position in CorVel Co. (NASDAQ:CRVL)

Public Employees Retirement Association of Colorado trimmed its position in shares of CorVel Co. (NASDAQ:CRVL) by 24.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,271 shares of the business services provider’s stock after selling 415 shares during the period. Public Employees Retirement Association of Colorado’s holdings in CorVel were worth $323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its stake in shares of CorVel by 130.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 411 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 233 shares in the last quarter. Hsbc Holdings PLC grew its stake in CorVel by 7.1% during the 2nd quarter. Hsbc Holdings PLC now owns 1,364 shares of the business services provider’s stock valued at $348,000 after purchasing an additional 91 shares in the last quarter. American Century Companies Inc. grew its stake in CorVel by 59.5% during the 2nd quarter. American Century Companies Inc. now owns 7,188 shares of the business services provider’s stock valued at $1,828,000 after purchasing an additional 2,682 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in CorVel during the 2nd quarter worth approximately $1,937,000. Finally, Texas Permanent School Fund Corp raised its position in shares of CorVel by 15.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 9,137 shares of the business services provider’s stock valued at $2,323,000 after purchasing an additional 1,208 shares in the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

CorVel Stock Performance

Shares of CorVel stock opened at $320.37 on Friday. CorVel Co. has a 1 year low of $187.92 and a 1 year high of $329.23. The firm’s 50-day simple moving average is $308.59 and its 200-day simple moving average is $270.95. The firm has a market cap of $5.50 billion, a PE ratio of 73.45 and a beta of 1.08.

CorVel (NASDAQ:CRVL) last released its earnings results on Tuesday, July 30th. The business services provider reported $1.25 EPS 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%.

Analysts Set New Price Targets

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

Insider Activity at CorVel

In other CorVel news, Director R Judd Jessup sold 2,131 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $295.21, for a total transaction of $629,092.51. Following the completion of the sale, the director now owns 43,277 shares in the company, valued at $12,775,803.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Alan Hoops sold 1,700 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $300.00, for a total value of $510,000.00. Following the sale, the director now owns 9,396 shares of the company’s stock, valued at approximately $2,818,800. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director R Judd Jessup sold 2,131 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $295.21, for a total value of $629,092.51. Following the transaction, the director now owns 43,277 shares of the company’s stock, valued at approximately $12,775,803.17. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,431 shares of company stock valued at $19,961,847. Corporate 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.