Zurcher Kantonalbank Zurich Cantonalbank Acquires 4,656 Shares of Accolade, Inc. (NASDAQ:ACCD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Accolade, Inc. (NASDAQ:ACCD) by 39.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,584 shares of the company’s stock after acquiring an additional 4,656 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Accolade were worth $199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in Accolade by 1,101.0% in the 4th quarter. International Assets Investment Management LLC now owns 110,492 shares of the company’s stock valued at $1,327,000 after acquiring an additional 101,292 shares during the period. Requisite Capital Management LLC purchased a new position in Accolade during the 4th quarter valued at about $254,000. ARK Investment Management LLC grew its holdings in Accolade by 12.6% during the 4th quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock valued at $81,731,000 after buying an additional 762,685 shares in the last quarter. Vanguard Group Inc. grew its holdings in Accolade by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock valued at $55,903,000 after buying an additional 157,464 shares in the last quarter. Finally, Rock Springs Capital Management LP grew its holdings in Accolade by 3.3% during the 3rd quarter. Rock Springs Capital Management LP now owns 2,913,000 shares of the company’s stock valued at $30,820,000 after buying an additional 93,000 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on ACCD shares. Canaccord Genuity Group reduced their target price on Accolade from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, April 26th. SVB Leerink started coverage on Accolade in a report on Monday, February 26th. They set an “outperform” rating and a $16.00 target price for the company. Stifel Nicolaus reduced their target price on Accolade from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Raymond James boosted their price objective on Accolade from $12.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Finally, Truist Financial cut their price objective on Accolade from $16.00 to $14.00 and set a “buy” rating for the company in a report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.57.

Accolade Stock Down 2.5 %

ACCD opened at $7.44 on Wednesday. The company has a market cap of $583.00 million, a P/E ratio of -5.59 and a beta of 2.15. Accolade, Inc. has a 12 month low of $6.33 and a 12 month high of $15.36. The business’s 50-day moving average price is $9.17 and its 200-day moving average price is $9.96. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.47.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm had revenue of $124.80 million during the quarter, compared to the consensus estimate of $123.91 million. Accolade had a negative return on equity of 22.53% and a negative net margin of 24.09%. The business’s revenue was up 26.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.42) earnings per share. On average, equities analysts expect that Accolade, Inc. will post -1.24 EPS for the current year.

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 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.