Alight (NYSE:ALIT) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Alight (NYSE:ALIT) in a research report released on Monday, Benzinga reports. They currently have a $11.00 price target on the stock.

Several other equities analysts have also issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of Alight from $12.00 to $13.00 and gave the company a buy rating in a report on Thursday, March 21st. DA Davidson restated a buy rating and issued a $12.00 target price on shares of Alight in a report on Thursday, June 20th. KeyCorp dropped their target price on shares of Alight from $12.00 to $11.00 and set an overweight rating on the stock in a report on Thursday, May 9th. Wedbush dropped their target price on shares of Alight from $14.00 to $12.00 and set an outperform rating on the stock in a report on Friday, May 10th. Finally, UBS Group boosted their target price on shares of Alight from $12.00 to $13.00 and gave the company a buy rating in a report on Thursday, March 21st. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alight presently has an average rating of Buy and a consensus target price of $11.72.

Alight Stock Performance

Shares of Alight stock opened at $7.12 on Monday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.61. Alight has a twelve month low of $6.33 and a twelve month high of $10.38. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of -11.48, a P/E/G ratio of 1.45 and a beta of 0.87. The company’s fifty day moving average is $7.96 and its 200 day moving average is $8.64.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, hitting 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 company had revenue of $816.00 million for the quarter, compared to analysts’ expectations of $832.41 million. Sell-side analysts forecast that Alight will post 0.52 EPS for the current year.

Insider Transactions at Alight

In other news, CEO Stephan Scholl sold 83,016 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the transaction, the chief executive officer now owns 8,115,183 shares of the company’s stock, valued at approximately $771,753,903.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On Alight

Large investors have recently added to or reduced their stakes in the business. Natixis Advisors L.P. lifted its position in Alight by 81.0% in the 3rd quarter. Natixis Advisors L.P. now owns 323,062 shares of the company’s stock valued at $2,290,000 after acquiring an additional 144,573 shares in the last quarter. Bullseye Asset Management LLC lifted its position in Alight by 34.1% in the 4th quarter. Bullseye Asset Management LLC now owns 531,425 shares of the company’s stock valued at $4,533,000 after acquiring an additional 135,000 shares in the last quarter. Vanguard Group Inc. lifted its position in Alight by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 35,198,914 shares of the company’s stock valued at $300,247,000 after acquiring an additional 547,614 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Alight by 33.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock valued at $103,826,000 after acquiring an additional 3,018,711 shares in the last quarter. Finally, Walleye Capital LLC increased its stake in Alight by 229.8% in the 3rd quarter. Walleye Capital LLC now owns 281,509 shares of the company’s stock valued at $1,996,000 after buying an additional 196,160 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

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.