Accolade (NASDAQ:ACCD) Cut to Hold at Stephens

Stephens cut shares of Accolade (NASDAQ:ACCD) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

Several other brokerages have also weighed in on ACCD. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.03 target price (down previously from $8.00) on shares of Accolade in a research note on Thursday, January 9th. Raymond James reaffirmed a “market perform” rating on shares of Accolade in a research report on Thursday, January 9th. Barclays cut their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 9th. William Blair lowered Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Canaccord Genuity Group reiterated a “hold” rating on shares of Accolade in a report on Wednesday, January 8th. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.55.

Accolade Stock Up 0.3 %

Shares of NASDAQ ACCD opened at $6.86 on Monday. The company has a market capitalization of $552.48 million, a P/E ratio of -6.66 and a beta of 2.08. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72. The company has a 50 day simple moving average of $3.88 and a 200-day simple moving average of $3.83. Accolade has a 1 year low of $3.08 and a 1 year high of $13.93.

Accolade (NASDAQ:ACCD) last posted its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.01. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. On average, equities research analysts predict that Accolade will post -0.92 earnings per share for the current year.

Insider Buying and Selling at Accolade

In other news, CEO Rajeev Singh sold 13,357 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value of $48,085.20. Following the sale, the chief executive officer now directly owns 814,316 shares in the company, valued at approximately $2,931,537.60. This trade represents a 1.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 41,298 shares of company stock valued at $149,987 in the last quarter. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Accolade

Large investors have recently bought and sold shares of the business. Whetstone Capital Advisors LLC acquired a new position in shares of Accolade during the 3rd quarter worth about $3,842,000. Clearline Capital LP purchased a new stake in Accolade during the second quarter worth approximately $2,974,000. Cubist Systematic Strategies LLC boosted its holdings in Accolade by 273.4% in the second quarter. Cubist Systematic Strategies LLC now owns 260,040 shares of the company’s stock valued at $931,000 after purchasing an additional 190,396 shares in the last quarter. Johnson Financial Group LLC acquired a new stake in Accolade during the third quarter worth approximately $1,642,000. Finally, Algert Global LLC lifted its position in shares of Accolade by 153.5% during the 2nd quarter. Algert Global LLC now owns 354,119 shares of the company’s stock worth $1,268,000 after buying an additional 214,441 shares during the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Accolade Company Profile

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.