82,859 Shares in Accolade, Inc. (NASDAQ:ACCD) Purchased by Sei Investments Co.

Sei Investments Co. purchased a new stake in Accolade, Inc. (NASDAQ:ACCD) during the 2nd quarter, HoldingsChannel reports. The fund purchased 82,859 shares of the company’s stock, valued at approximately $297,000.

Other large investors have also recently modified their holdings of the company. Bellevue Group AG increased its stake in Accolade by 6.6% in the first quarter. Bellevue Group AG now owns 4,804,514 shares of the company’s stock valued at $50,351,000 after acquiring an additional 297,110 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Accolade in the 2nd quarter worth approximately $1,229,000. GSA Capital Partners LLP lifted its position in Accolade by 102.8% in the first quarter. GSA Capital Partners LLP now owns 51,374 shares of the company’s stock valued at $538,000 after purchasing an additional 26,044 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Accolade during the first quarter valued at approximately $87,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Accolade by 15.3% during the first 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. Institutional investors own 84.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Guggenheim lowered their price target on shares of Accolade from $13.00 to $6.00 and set a “buy” rating for the company in a report on Friday, June 28th. Canaccord Genuity Group dropped their target price on shares of Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday. Stifel Nicolaus reduced their price target on Accolade from $13.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Barclays lowered their price target on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of Accolade in a research report on Monday. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Accolade has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

Accolade Price Performance

Shares of NASDAQ ACCD opened at $3.87 on Friday. The company has a 50 day simple moving average of $4.01 and a two-hundred day simple moving average of $5.78. Accolade, Inc. has a fifty-two week low of $3.35 and a fifty-two week high of $15.36. The company has a market capitalization of $309.63 million, a price-to-earnings ratio of -3.34 and a beta of 1.99. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.80 and a current ratio of 2.80.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. The company had revenue of $106.40 million during the quarter, compared to analyst estimates of $104.87 million. Accolade had a negative return on equity of 20.30% and a negative net margin of 20.62%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.43) EPS. Analysts expect that Accolade, Inc. will post -1.11 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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.