BidaskClub upgraded shares of CorVel (NASDAQ:CRVL) from a hold rating to a buy rating in a report issued on Thursday morning.

Shares of CorVel (NASDAQ CRVL) opened at $50.20 on Thursday. The company has a market cap of $947.78, a price-to-earnings ratio of 27.58 and a beta of 0.68. CorVel has a 12 month low of $39.20 and a 12 month high of $61.20.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings results on Tuesday, January 30th. The business services provider reported $0.50 EPS for the quarter. The firm had revenue of $140.73 million during the quarter. CorVel had a net margin of 6.33% and a return on equity of 23.74%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its position in shares of CorVel by 40.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 34,784 shares of the business services provider’s stock valued at $1,840,000 after purchasing an additional 10,100 shares during the period. BlackRock Inc. raised its position in shares of CorVel by 1.8% in the fourth quarter. BlackRock Inc. now owns 1,301,105 shares of the business services provider’s stock valued at $68,830,000 after purchasing an additional 22,471 shares during the period. Rhumbline Advisers raised its position in shares of CorVel by 14.7% in the fourth quarter. Rhumbline Advisers now owns 25,755 shares of the business services provider’s stock valued at $1,362,000 after purchasing an additional 3,304 shares during the period. Arizona State Retirement System raised its position in shares of CorVel by 227.6% in the fourth quarter. Arizona State Retirement System now owns 16,152 shares of the business services provider’s stock valued at $854,000 after purchasing an additional 11,221 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of CorVel by 25.4% in the fourth quarter. Wells Fargo & Company MN now owns 15,795 shares of the business services provider’s stock valued at $836,000 after purchasing an additional 3,198 shares during the period. 43.90% of the stock is currently owned by institutional investors.

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CorVel Company Profile

CorVel Corporation (Corvel) is a provider of workers’ compensation solutions for employers, third party administrators, insurance companies and government agencies. The Company offers its services as a bundled solution, which includes claims management, as a standalone service, or as add-on services to existing customers.

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