Axxcess Wealth Management LLC Grows Position in CorVel Co. (NASDAQ:CRVL)

Axxcess Wealth Management LLC increased its position in shares of CorVel Co. (NASDAQ:CRVL) by 211.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,433 shares of the business services provider’s stock after buying an additional 1,651 shares during the quarter. Axxcess Wealth Management LLC’s holdings in CorVel were worth $271,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CRVL. Boston Trust Walden Corp increased its stake in CorVel by 196.8% in the fourth 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. purchased a new position in CorVel in the fourth quarter valued at approximately $25,123,000. Charles Schwab Investment Management Inc. increased its stake in CorVel by 203.4% in the fourth 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 increased its stake in CorVel by 184.2% in the fourth 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. increased its stake in CorVel by 210.2% in the fourth 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 currently owned by hedge funds and other institutional investors.

CorVel Trading Up 0.5 %

Shares of CRVL opened at $107.86 on Friday. The firm has a market cap of $5.54 billion, a PE ratio of 63.45 and a beta of 1.06. The company’s 50 day simple moving average is $112.06 and its 200-day simple moving average is $114.20. CorVel Co. has a 12-month low of $76.20 and a 12-month high of $128.61.

CorVel (NASDAQ:CRVL) last announced its earnings results 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 Transactions at CorVel

In related news, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction on Thursday, February 6th. The stock was 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 directly owns 314,000 shares of the company’s stock, valued at $38,772,720. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alan Hoops sold 10,200 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total value of $1,187,178.00. Following the sale, the director now directly owns 118,213 shares of the company’s stock, valued at approximately $13,758,811.07. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,200 shares of company stock worth $3,824,115. Insiders own 47.57% of the company’s stock.

Analyst Ratings Changes

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

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.