Alight (NYSE:ALIT) Price Target Raised to $12.00

Alight (NYSE:ALIT) had its target price hoisted by Canaccord Genuity Group from $11.00 to $12.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on ALIT. Wedbush cut their target price on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a research report on Tuesday, August 20th. Needham & Company LLC upped their price target on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Citigroup lowered their price target on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Alight currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

Alight Stock Down 2.0 %

Shares of ALIT 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 firm has a market cap of $4.22 billion, a PE ratio of -16.10 and a beta of 0.87. The stock has a 50 day moving average of $7.28 and a 200-day moving average of $7.41. The company has a quick ratio of 1.37, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.

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

Alight Announces Dividend

The business also recently announced a — dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 2nd.

Insider Buying and Selling at Alight

In related news, Director William P. Foley II sold 5,000,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the completion of the transaction, the director now directly owns 883,323 shares in the company, valued at approximately $7,287,414.75. This trade represents a 84.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio boosted its stake in shares of Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after acquiring an additional 1,996 shares during the period. Ingalls & Snyder LLC boosted its stake in shares of Alight by 20.9% during the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after acquiring an additional 2,235 shares during the period. Amalgamated Bank boosted its stake in shares of Alight by 16.2% during the 2nd quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock worth $121,000 after acquiring an additional 2,289 shares during the period. KBC Group NV boosted its stake in shares of Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after acquiring an additional 2,331 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after acquiring an additional 2,961 shares during the period. 96.74% of the stock is currently owned by institutional investors.

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.