Alight (NYSE:ALIT) Price Target Cut to $9.50 by Analysts at Bank of America

Alight (NYSE:ALIT) had its price objective lowered by Bank of America from $10.00 to $9.50 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group raised their price target on shares of Alight from $12.00 to $13.00 and gave the stock a buy rating in a research note on Thursday, March 21st. Needham & Company LLC reduced their price target on shares of Alight from $13.00 to $11.00 and set a buy rating on the stock in a research note on Thursday, May 9th. DA Davidson reaffirmed a buy rating and issued a $12.00 price target on shares of Alight in a research note on Thursday, June 20th. Wedbush reduced their price target on shares of Alight from $14.00 to $12.00 and set an outperform rating on the stock in a research note on Friday, May 10th. Finally, KeyCorp cut their target price on shares of Alight from $12.00 to $11.00 and set an overweight rating on the stock in a research report on Thursday, May 9th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alight has an average rating of Buy and an average target price of $11.72.

Alight Trading Down 3.4 %

Shares of ALIT opened at $7.28 on Tuesday. Alight has a twelve month low of $6.33 and a twelve month high of $10.38. The company has a market cap of $4.09 billion, a P/E ratio of -11.74, a P/E/G ratio of 1.25 and a beta of 0.88. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $8.11 and its 200-day simple moving average is $8.67.

Alight (NYSE:ALIT) last announced its earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. The business had revenue of $816.00 million for the quarter, compared to the consensus estimate of $832.41 million. As a group, analysts expect that Alight will post 0.52 EPS for the current year.

Insider Buying and Selling at Alight

In other news, CEO Stephan Scholl sold 83,016 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $95.10, for a total value of $7,894,821.60. Following the sale, the chief executive officer now directly owns 8,115,183 shares in the company, valued at approximately $771,753,903.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Stephan Scholl sold 83,016 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $95.10, for a total value of $7,894,821.60. Following the sale, the chief executive officer now directly owns 8,115,183 shares in the company, valued at approximately $771,753,903.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Katie J. Rooney sold 2,777 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the completion of the sale, the insider now owns 2,927,314 shares in the company, valued at $28,394,945.80. The disclosure for this sale can be found here. Insiders own 5.33% of the company’s stock.

Institutional Trading of Alight

A number of institutional investors have recently bought and sold shares of ALIT. Deutsche Bank AG boosted its stake in Alight by 19.1% in the 3rd quarter. Deutsche Bank AG now owns 188,954 shares of the company’s stock worth $1,340,000 after purchasing an additional 30,309 shares in the last quarter. Rhumbline Advisers boosted its stake in Alight by 1.4% in the 3rd quarter. Rhumbline Advisers now owns 634,524 shares of the company’s stock worth $4,499,000 after purchasing an additional 9,014 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Alight in the 3rd quarter worth approximately $52,000. Invesco Ltd. boosted its stake in Alight by 1.2% in the 3rd quarter. Invesco Ltd. now owns 2,484,165 shares of the company’s stock worth $17,613,000 after purchasing an additional 29,149 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Alight in the 3rd quarter worth approximately $1,148,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

About Alight

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.