Connor Clark & Lunn Investment Management Ltd. Buys 52,358 Shares of Phreesia, Inc. $PHR

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its stake in Phreesia, Inc. by 141.3%, acquiring an additional 52,358 shares, bringing its total ownership to approximately 0.15% valued at $2,285,000.
• Institutional investors now own 92.10% of Phreesia's stock, indicating strong institutional interest in the company.
• Despite recent insider selling, Phreesia reported a revenue increase of 14.5% year-over-year for the last quarter, exceeding analyst estimates.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Phreesia, Inc. (NYSE:PHR - Free Report) by 141.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 89,410 shares of the company's stock after acquiring an additional 52,358 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.15% of Phreesia worth $2,285,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Deutsche Bank AG boosted its position in shares of Phreesia by 30.6% in the first quarter. Deutsche Bank AG now owns 74,857 shares of the company's stock valued at $1,913,000 after acquiring an additional 17,560 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Phreesia by 5.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 522,384 shares of the company's stock valued at $13,352,000 after acquiring an additional 28,936 shares during the period. Vanguard Group Inc. boosted its position in shares of Phreesia by 2.4% in the first quarter. Vanguard Group Inc. now owns 4,936,515 shares of the company's stock valued at $126,177,000 after acquiring an additional 113,405 shares during the period. Mackenzie Financial Corp bought a new stake in shares of Phreesia in the first quarter valued at about $414,000. Finally, Legato Capital Management LLC boosted its position in shares of Phreesia by 28.6% in the first quarter. Legato Capital Management LLC now owns 39,558 shares of the company's stock valued at $1,011,000 after acquiring an additional 8,789 shares during the period. Institutional investors own 92.10% of the company's stock.

Insider Activity at Phreesia

In other news, Director Lisa Egbuonu-Davis sold 2,802 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $27.67, for a total transaction of $77,531.34. Following the sale, the director directly owned 22,037 shares in the company, valued at approximately $609,763.79. The trade was a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark Douglas Smith sold 7,000 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $29.00, for a total value of $203,000.00. Following the sale, the director owned 37,353 shares in the company, valued at approximately $1,083,237. This trade represents a 15.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,804 shares of company stock valued at $1,510,733. Corporate insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

PHR has been the subject of a number of recent research reports. Wall Street Zen raised shares of Phreesia from a "hold" rating to a "buy" rating in a research report on Sunday, June 1st. Canaccord Genuity Group dropped their price target on Phreesia from $35.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Citigroup reaffirmed a "buy" rating on shares of Phreesia in a research note on Wednesday, May 28th. Truist Financial boosted their price target on Phreesia from $34.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, DA Davidson raised Phreesia to a "strong-buy" rating in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $32.27.

Phreesia Price Performance

NYSE PHR traded down $0.72 during trading on Tuesday, hitting $28.38. 65,027 shares of the company's stock were exchanged, compared to its average volume of 510,082. The company has a market cap of $1.69 billion, a PE ratio of -38.20 and a beta of 0.71. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.02. The stock's 50 day moving average price is $27.37 and its two-hundred day moving average price is $26.39. Phreesia, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $30.53.

Phreesia (NYSE:PHR - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.06. The company had revenue of $115.94 million for the quarter, compared to analysts' expectations of $115.00 million. Phreesia had a negative return on equity of 16.23% and a negative net margin of 9.83%.The business's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) earnings per share. Phreesia has set its FY 2026 guidance at EPS. Research analysts expect that Phreesia, Inc. will post -1.1 EPS for the current year.

Phreesia Profile

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. The company offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking management; registration solution to automate patient self-registration; revenue cycle solution, which offer insurance-verification processes, point-of-sale payments applications, post-visit payment collection, and flexible payment options; and network connect solution to deliver clinically relevant content to patients.