American Century Companies Inc. Boosts Stock Position in CorVel Co. (NASDAQ:CRVL)

American Century Companies Inc. increased its position in shares of CorVel Co. (NASDAQ:CRVL) by 59.5% in the 2nd quarter, Holdings Channel reports. The firm owned 7,188 shares of the business services provider’s stock after purchasing an additional 2,682 shares during the period. American Century Companies Inc.’s holdings in CorVel were worth $1,828,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRVL. Janus Henderson Group PLC lifted its stake in CorVel by 997.8% during the 1st quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock worth $12,351,000 after acquiring an additional 42,696 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in CorVel during the 4th quarter worth approximately $887,000. SG Americas Securities LLC acquired a new stake in shares of CorVel in the 1st quarter valued at approximately $896,000. Sei Investments Co. lifted its holdings in shares of CorVel by 65.8% in the 1st quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock valued at $5,523,000 after buying an additional 8,338 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in CorVel by 41.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock valued at $29,464,000 after purchasing an additional 34,155 shares in the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

CorVel Price Performance

Shares of CRVL opened at $320.37 on Friday. CorVel Co. has a 12 month low of $187.92 and a 12 month high of $329.23. The stock’s 50-day moving average is $309.31 and its two-hundred day moving average is $271.55. The stock has a market cap of $5.50 billion, a PE ratio of 72.81 and a beta of 1.08.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director R Judd Jessup sold 2,500 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $311.60, for a total transaction of $779,000.00. Following the completion of the sale, the director now owns 40,777 shares in the company, valued at approximately $12,706,113.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director R Judd Jessup sold 2,500 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $311.60, for a total value of $779,000.00. Following the transaction, the director now directly owns 40,777 shares of the company’s stock, valued at $12,706,113.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jennifer Yoss sold 1,214 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $300.88, for a total value of $365,268.32. Following the completion of the sale, the vice president now directly owns 680 shares in the company, valued at $204,598.40. The disclosure for this sale can be found here. Insiders sold 72,431 shares of company stock worth $19,961,847 over the last ninety days. Company 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.