State of New Jersey Common Pension Fund D Has $2.07 Million Stock Position in CorVel Co. (NASDAQ:CRVL)

State of New Jersey Common Pension Fund D lowered its stake in shares of CorVel Co. (NASDAQ:CRVL) by 16.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,346 shares of the business services provider’s stock after selling 1,271 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CorVel were worth $2,074,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC raised its position in shares of CorVel by 997.8% during the first quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock valued at $12,351,000 after buying an additional 42,696 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings 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 acquiring an additional 34,155 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of CorVel by 1.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider’s stock worth $489,631,000 after acquiring an additional 21,673 shares during the period. Sei Investments Co. grew its holdings in shares of CorVel by 65.8% during the 1st quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock worth $5,523,000 after purchasing an additional 8,338 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of CorVel during the second quarter valued at approximately $1,272,000. 51.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

CorVel Stock Down 0.6 %

NASDAQ:CRVL opened at $344.74 on Friday. The firm has a market capitalization of $5.91 billion, a PE ratio of 73.19 and a beta of 1.10. CorVel Co. has a 12-month low of $203.90 and a 12-month high of $367.84. The firm has a 50-day moving average price of $317.94 and a 200 day moving average price of $289.35.

Insider Transactions at CorVel

In other news, CFO Brandon O’brien sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $314.98, for a total value of $314,980.00. Following the sale, the chief financial officer now owns 6,502 shares of the company’s stock, valued at approximately $2,047,999.96. This represents a 13.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Judd Jessup sold 2,500 shares of CorVel stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $311.60, for a total transaction 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. This represents a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 47.57% of the stock is currently owned by insiders.

CorVel Company 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.