Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Accolade, Inc. (NASDAQ:ACCD)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Accolade, Inc. (NASDAQ:ACCD) by 84.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 634,470 shares of the company’s stock after buying an additional 289,747 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.78% of Accolade worth $2,170,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in shares of Accolade by 1.7% in the 4th quarter. Rhumbline Advisers now owns 115,136 shares of the company’s stock worth $394,000 after acquiring an additional 1,967 shares during the last quarter. Centiva Capital LP increased its position in Accolade by 5.8% during the third quarter. Centiva Capital LP now owns 59,660 shares of the company’s stock worth $230,000 after purchasing an additional 3,264 shares during the last quarter. Mission Creek Capital Partners Inc. purchased a new position in Accolade during the third quarter worth about $38,000. Inspire Investing LLC boosted its holdings in Accolade by 9.9% in the 4th quarter. Inspire Investing LLC now owns 117,216 shares of the company’s stock valued at $401,000 after purchasing an additional 10,537 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Accolade by 36.1% in the 4th quarter. SG Americas Securities LLC now owns 40,498 shares of the company’s stock valued at $139,000 after buying an additional 10,749 shares during the period. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Accolade Stock Performance

Shares of ACCD stock opened at $7.00 on Wednesday. The firm has a 50 day moving average of $6.91 and a two-hundred day moving average of $4.81. The stock has a market capitalization of $573.95 million, a PE ratio of -3.11 and a beta of 2.18. 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, Inc. has a 52 week low of $3.08 and a 52 week high of $10.68.

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

Analyst Ratings Changes

Several analysts have recently commented on ACCD shares. Truist Financial lowered shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Leerink Partners reaffirmed a “market perform” rating on shares of Accolade in a research note on Wednesday, January 8th. Needham & Company LLC reissued a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.03 target price (down previously from $8.00) on shares of Accolade in a research report on Thursday, January 9th. Finally, Stephens reiterated an “equal weight” rating and set a $7.03 price target on shares of Accolade in a research report on Wednesday, February 12th. Thirteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.51.

Accolade 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.