Zurcher Kantonalbank Zurich Cantonalbank Buys 19,353 Shares of Alight, Inc. (NYSE:ALIT)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Alight, Inc. (NYSE:ALIT) by 29.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,402 shares of the company’s stock after purchasing an additional 19,353 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alight were worth $623,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew 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 purchasing an additional 547,614 shares during the period. Bullseye Asset Management LLC boosted its stake in Alight by 34.1% during the 4th quarter. Bullseye Asset Management LLC now owns 531,425 shares of the company’s stock valued at $4,533,000 after purchasing an additional 135,000 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Alight by 33.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock worth $103,826,000 after purchasing an additional 3,018,711 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Alight by 20.5% in the first quarter. Russell Investments Group Ltd. now owns 1,133,077 shares of the company’s stock valued at $11,161,000 after purchasing an additional 192,405 shares in the last quarter. Finally, Boston Partners grew its holdings in Alight by 8.9% during the fourth quarter. Boston Partners now owns 3,069,163 shares of the company’s stock worth $26,227,000 after buying an additional 249,802 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Insider Activity

In other news, COO Katie J. Rooney sold 47,851 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was 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 can be accessed through this hyperlink. Company insiders own 5.33% of the company’s stock.

Alight Price Performance

ALIT opened at $7.19 on Friday. The stock has a market capitalization of $3.93 billion, a P/E ratio of -11.60, a P/E/G ratio of 1.81 and a beta of 0.86. The company’s 50-day simple moving average is $7.17 and its two-hundred day simple moving average is $8.12. Alight, Inc. has a 52-week low of $6.15 and a 52-week high of $10.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citigroup reduced their price objective on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Bank of America lowered their price objective on shares of Alight from $10.00 to $9.50 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Wedbush reduced their price objective on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a research note on Tuesday, August 20th. Finally, KeyCorp cut their price objective on shares of Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Alight presently has a consensus rating of “Moderate Buy” and an average price target of $10.75.

Alight 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.