Connor Clark & Lunn Investment Management Ltd. Purchases 215,958 Shares of Accolade, Inc. (NASDAQ:ACCD)

Connor Clark & Lunn Investment Management Ltd. increased its position in Accolade, Inc. (NASDAQ:ACCD) by 167.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 344,723 shares of the company’s stock after buying an additional 215,958 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Accolade were worth $1,327,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACCD. Vanguard Group Inc. increased its position in shares of Accolade by 1.4% in the first quarter. Vanguard Group Inc. now owns 5,403,256 shares of the company’s stock valued at $56,626,000 after acquiring an additional 77,044 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Accolade by 15.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock valued at $205,000 after purchasing an additional 2,586 shares during the period. SG Americas Securities LLC bought a new position in Accolade during the 2nd quarter valued at approximately $43,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Accolade by 18.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,931 shares of the company’s stock worth $7,203,000 after buying an additional 314,371 shares during the period. Finally, ARK Investment Management LLC grew its position in shares of Accolade by 0.5% in the 2nd quarter. ARK Investment Management LLC now owns 5,641,448 shares of the company’s stock worth $20,196,000 after buying an additional 28,405 shares during the last quarter. 84.99% of the stock is currently owned by institutional investors.

Accolade Stock Down 0.8 %

Shares of NASDAQ:ACCD opened at $3.77 on Wednesday. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $3.63 and a two-hundred day simple moving average of $4.50. Accolade, Inc. has a 12-month low of $3.08 and a 12-month high of $15.36. The stock has a market capitalization of $303.64 million, a price-to-earnings ratio of -3.66 and a beta of 2.02.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The company had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.87 million. During the same quarter in the previous year, the business posted ($0.43) EPS. Accolade’s revenue was up 9.8% compared to the same quarter last year. On average, research analysts anticipate that Accolade, Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ACCD shares. Truist Financial dropped their price target on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 target price on shares of Accolade in a research note on Monday, October 7th. Canaccord Genuity Group decreased their price target on shares of Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company lowered their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, October 11th. Finally, Stephens reduced their target price on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.04.

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.