Intech Investment Management LLC Acquires 12,124 Shares of Accolade, Inc. (NASDAQ:ACCD)

Intech Investment Management LLC increased its stake in Accolade, Inc. (NASDAQ:ACCD) by 48.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,984 shares of the company’s stock after purchasing an additional 12,124 shares during the quarter. Intech Investment Management LLC’s holdings in Accolade were worth $126,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ACCD. Tocqueville Asset Management L.P. raised its stake in shares of Accolade by 100.0% in the fourth quarter. Tocqueville Asset Management L.P. now owns 580,000 shares of the company’s stock worth $1,984,000 after buying an additional 290,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Accolade by 84.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 634,470 shares of the company’s stock valued at $2,170,000 after purchasing an additional 289,747 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Accolade in the fourth quarter worth approximately $120,000. Charles Schwab Investment Management Inc. boosted its position in shares of Accolade by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 611,731 shares of the company’s stock worth $2,092,000 after purchasing an additional 42,530 shares during the period. Finally, Ieq Capital LLC increased its stake in shares of Accolade by 99.1% in the fourth quarter. Ieq Capital LLC now owns 82,509 shares of the company’s stock worth $282,000 after purchasing an additional 41,071 shares in the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Leerink Partnrs downgraded shares of Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th. Leerink Partners reaffirmed a “market perform” rating on shares of Accolade in a research note on Wednesday, January 8th. Truist Financial downgraded Accolade from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Canaccord Genuity Group restated a “hold” rating on shares of Accolade in a research note on Wednesday, January 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Thirteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.51.

Accolade Price Performance

Accolade stock opened at $7.00 on Friday. Accolade, Inc. has a 52-week low of $3.08 and a 52-week high of $10.68. The company has a market cap of $573.95 million, a price-to-earnings ratio of -3.11 and a beta of 2.18. The firm’s fifty day moving average is $6.93 and its 200 day moving average is $4.93. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.67.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. Accolade had a negative net margin of 40.36% and a negative return on equity of 20.74%. Sell-side analysts forecast that Accolade, Inc. will post -1.2 EPS for the current fiscal year.

About Accolade

Accolade, Inc, together with its subsidiaries, engages in the development and provision of personalized and technology-enabled solutions that help people to understand, navigate, and utilize the healthcare system and their workplace benefits in the United States. The company offers a platform with cloud-based intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.