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

Neuberger Berman Group LLC raised its stake in CorVel Co. (NASDAQ:CRVL) by 204.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 845,531 shares of the business services provider’s stock after buying an additional 567,984 shares during the quarter. Neuberger Berman Group LLC’s holdings in CorVel were worth $94,074,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of CorVel by 202.1% during the fourth quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider’s stock worth $365,116,000 after purchasing an additional 2,195,466 shares during the period. Renaissance Technologies LLC grew its holdings in shares of CorVel by 184.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider’s stock worth $206,813,000 after purchasing an additional 1,204,611 shares during the period. Geode Capital Management LLC lifted its stake in CorVel by 205.1% during the 4th quarter. Geode Capital Management LLC now owns 774,653 shares of the business services provider’s stock worth $86,204,000 after acquiring an additional 520,783 shares in the last quarter. Boston Trust Walden Corp lifted 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 worth $76,775,000 after acquiring an additional 457,538 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of CorVel by 169.3% during the fourth quarter. Wells Fargo & Company MN now owns 447,724 shares of the business services provider’s stock worth $49,814,000 after buying an additional 281,471 shares in the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

Insider Activity

In other news, CFO Brandon O’brien sold 1,523 shares of the company’s 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 completion of the sale, the chief financial officer now owns 17,142 shares in the company, valued at approximately $2,049,497.52. This represents a 8.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven J. Hamerslag sold 10,000 shares of the 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 sale, the director now owns 314,000 shares of the company’s stock, valued at approximately $38,772,720. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,200 shares of company stock worth $3,824,115 over the last 90 days. 47.57% of the stock is currently owned by company insiders.

CorVel Trading Up 7.3 %

NASDAQ:CRVL opened at $115.56 on Thursday. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 67.98 and a beta of 0.94. CorVel Co. has a 12-month low of $76.20 and a 12-month high of $128.61. The company’s 50-day moving average is $111.80 and its two-hundred day moving average is $114.92.

CorVel (NASDAQ:CRVL) last posted 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 return on equity of 32.22% and a net margin of 10.12%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of CorVel from a “hold” rating to a “buy” rating in a research report on Tuesday.

About CorVel

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.