Accolade (NASDAQ:ACCD) Lowered to Hold Rating by William Blair

William Blair cut shares of Accolade (NASDAQ:ACCD) from a strong-buy rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.

Several other analysts have also recently weighed in on ACCD. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Accolade in a report on Wednesday. Barclays reduced their target price on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. Stephens reduced their target price on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Wells Fargo & Company cut their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Finally, Raymond James reissued a “market perform” rating on shares of Accolade in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Accolade currently has a consensus rating of “Hold” and a consensus price target of $7.55.

Accolade Stock Down 0.4 %

Shares of ACCD opened at $6.83 on Wednesday. The stock has a market capitalization of $550.07 million, a PE ratio of -6.63 and a beta of 2.08. Accolade has a 1 year low of $3.08 and a 1 year high of $15.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. The company’s 50-day simple moving average is $3.73 and its 200-day simple moving average is $3.84.

Accolade (NASDAQ:ACCD) last issued its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. Analysts forecast that Accolade will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of Accolade 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 transaction, the chief executive officer now directly owns 814,316 shares in the company, valued at $2,931,537.60. This trade represents a 1.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 40,881 shares of company stock worth $144,987. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Accolade

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mission Creek Capital Partners Inc. purchased a new stake in shares of Accolade during the 3rd quarter worth $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Accolade during the 3rd quarter worth $46,000. Wolverine Trading LLC purchased a new stake in shares of Accolade during the 3rd quarter worth $51,000. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Accolade by 1,144.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock worth $81,000 after buying an additional 19,232 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Accolade during the 3rd quarter worth $96,000. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

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.