Alight (NYSE:ALIT) Price Target Raised to $11.00

Alight (NYSE:ALIT) had its target price increased by Needham & Company LLC from $9.00 to $11.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also weighed in on the stock. Wedbush cut their price objective on shares of Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a report on Tuesday, August 20th. Finally, Citigroup cut their price objective on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Alight has an average rating of “Moderate Buy” and a consensus price target of $10.95.

Alight Price Performance

Alight stock opened at $7.73 on Wednesday. Alight has a 12-month low of $6.15 and a 12-month high of $10.38. The stock has a market capitalization of $4.22 billion, a P/E ratio of -16.10 and a beta of 0.87. The firm’s 50-day moving average is $7.28 and its two-hundred day moving average is $7.41. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.37.

Alight (NYSE:ALIT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The company had revenue of $555.00 million for the quarter, compared to analysts’ expectations of $538.39 million. During the same period last year, the company earned $0.07 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts predict that Alight will post 0.42 earnings per share for the current year.

Alight Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

Insider Activity at Alight

In other news, Director William P. Foley II sold 5,000,000 shares of Alight stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the sale, the director now owns 883,323 shares in the company, valued at $7,287,414.75. This trade represents a 84.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.33% of the stock is currently owned by insiders.

Institutional Trading of Alight

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its stake in shares of Alight by 65.5% during the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock valued at $37,000 after purchasing an additional 1,996 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Alight by 65.3% during the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after buying an additional 2,961 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Alight during the third quarter worth approximately $74,000. KBC Group NV grew its position in shares of Alight by 24.0% during the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after buying an additional 2,331 shares in the last quarter. Finally, Soros Fund Management LLC acquired a new stake in shares of Alight during the third quarter worth approximately $89,000. Hedge funds and other institutional investors 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.