Teacher Retirement System of Texas Purchases 58,661 Shares of CorVel Co. (NASDAQ:CRVL)

Teacher Retirement System of Texas increased its position in shares of CorVel Co. (NASDAQ:CRVL) by 229.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 84,270 shares of the business services provider’s stock after buying an additional 58,661 shares during the quarter. Teacher Retirement System of Texas’ holdings in CorVel were worth $9,376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Boston Trust Walden Corp raised its stake in CorVel by 196.8% during the 4th quarter. Boston Trust Walden Corp now owns 690,053 shares of the business services provider’s stock valued at $76,775,000 after purchasing an additional 457,538 shares during the last quarter. Raymond James Financial Inc. acquired a new position in CorVel during the 4th quarter valued at $25,123,000. Charles Schwab Investment Management Inc. raised its stake in CorVel by 203.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 261,644 shares of the business services provider’s stock valued at $29,111,000 after purchasing an additional 175,408 shares during the last quarter. Bank of New York Mellon Corp raised its stake in CorVel by 184.2% during the 4th quarter. Bank of New York Mellon Corp now owns 183,447 shares of the business services provider’s stock valued at $20,410,000 after purchasing an additional 118,888 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in CorVel by 210.2% during the 4th quarter. Principal Financial Group Inc. now owns 139,836 shares of the business services provider’s stock valued at $15,558,000 after purchasing an additional 94,751 shares during the last quarter. 51.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of CorVel from a “buy” rating to a “hold” rating in a research note on Thursday, March 13th.

CorVel Stock Performance

Shares of CRVL stock opened at $107.86 on Friday. CorVel Co. has a 52-week low of $76.20 and a 52-week high of $128.61. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 63.45 and a beta of 1.06. The firm has a fifty day moving average of $112.06 and a 200-day moving average of $114.20.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings data 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%.

Insider Activity

In related news, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the completion of the sale, the director now owns 314,000 shares in the company, valued at $38,772,720. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brandon O’brien sold 1,523 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total transaction of $182,089.88. Following the sale, the chief financial officer now owns 17,142 shares of the company’s stock, valued at $2,049,497.52. This trade represents a 8.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,200 shares of company stock worth $3,824,115. 47.57% of the stock is currently owned by corporate insiders.

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.