Alight, Inc. (NYSE:ALIT) Receives $10.75 Average Price Target from Analysts

Alight, Inc. (NYSE:ALIT) has been given an average rating of “Moderate Buy” by the ten ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $10.75.

ALIT has been the topic of several research reports. Citigroup decreased their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. DA Davidson reiterated a “buy” rating and issued a $12.00 price target on shares of Alight in a research note on Thursday, June 20th. Bank of America reduced their price target on Alight from $10.00 to $9.50 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. KeyCorp dropped their price objective on Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Finally, Needham & Company LLC cut their target price on Alight from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th.

Alight Trading Down 0.3 %

Shares of NYSE:ALIT opened at $7.17 on Wednesday. Alight has a 12-month low of $6.15 and a 12-month high of $10.38. The business has a 50 day moving average of $7.17 and a 200-day moving average of $8.11. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.55. The stock has a market cap of $4.02 billion, a PE ratio of -11.56, a P/E/G ratio of 1.77 and a beta of 0.86.

Alight (NYSE:ALIT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $787.00 million during the quarter, compared to the consensus estimate of $791.22 million. Alight had a positive return on equity of 5.42% and a negative net margin of 6.58%. As a group, equities research analysts forecast that Alight will post 0.42 earnings per share for the current year.

Insider Activity at Alight

In related news, COO Katie J. Rooney sold 47,851 shares of Alight stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $7.11, for a total transaction of $340,220.61. Following the sale, the chief operating officer now directly owns 2,880,753 shares of the company’s stock, valued at approximately $20,482,153.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alight

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Alight by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock worth $374,707,000 after buying an additional 2,842,454 shares during the period. Fidelity National Financial Inc. grew its stake in shares of Alight by 11.5% in the fourth quarter. Fidelity National Financial Inc. now owns 22,300,000 shares of the company’s stock worth $190,219,000 after purchasing an additional 2,300,000 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Alight by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock valued at $155,463,000 after purchasing an additional 3,342,413 shares during the period. Janus Henderson Group PLC increased its holdings in Alight by 1.8% in the first quarter. Janus Henderson Group PLC now owns 19,060,481 shares of the company’s stock valued at $187,745,000 after purchasing an additional 331,303 shares during the period. Finally, Glenview Capital Management LLC raised its position in Alight by 11.2% during the 4th quarter. Glenview Capital Management LLC now owns 18,202,012 shares of the company’s stock worth $155,263,000 after purchasing an additional 1,835,481 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Company Profile

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.