Alight (NYSE:ALIT) Given New $13.00 Price Target at Needham & Company LLC

Alight (NYSE:ALITFree Report) had its price objective raised by Needham & Company LLC from $12.00 to $13.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Canaccord Genuity Group started coverage on Alight in a research note on Wednesday, December 6th. They set a buy rating and a $12.00 price target on the stock. Canaccord Genuity Group initiated coverage on Alight in a research note on Wednesday, December 6th. They issued a buy rating for the company. TheStreet raised shares of Alight from a d+ rating to a c- rating in a report on Tuesday, December 12th. Wedbush reaffirmed an outperform rating and set a $13.00 price objective on shares of Alight in a report on Thursday, February 22nd. Finally, UBS Group upped their target price on shares of Alight from $10.00 to $11.00 and gave the company a buy rating in a research note on Wednesday, January 10th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $12.71.

Check Out Our Latest Report on Alight

Alight Trading Down 3.8 %

NYSE:ALIT opened at $9.93 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $9.09 and its 200-day moving average is $8.07. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of -18.05, a P/E/G ratio of 1.59 and a beta of 0.90. Alight has a 12 month low of $6.33 and a 12 month high of $10.38.

Alight (NYSE:ALITGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. The company had revenue of $960.00 million during the quarter, compared to analyst estimates of $1.03 billion. Equities analysts anticipate that Alight will post 0.5 EPS for the current year.

Insiders Place Their Bets

In other Alight news, insider Katie J. Rooney sold 7,100 shares of Alight stock in a transaction on Monday, February 5th. The stock was sold at an average price of $9.00, for a total value of $63,900.00. Following the completion of the transaction, the insider now owns 2,999,434 shares in the company, valued at approximately $26,994,906. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total transaction of $4,204,310.94. Following the sale, the chief executive officer now directly owns 8,198,199 shares of the company’s stock, valued at $80,424,332.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katie J. Rooney sold 7,100 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $9.00, for a total value of $63,900.00. Following the transaction, the insider now directly owns 2,999,434 shares in the company, valued at approximately $26,994,906. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 464,336 shares of company stock valued at $4,527,359. 3.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alight

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Greenlight Capital Inc. bought a new stake in shares of Alight during the fourth quarter worth approximately $78,831,000. Norges Bank acquired a new stake in Alight during the 4th quarter worth $42,947,000. Fidelity National Financial Inc. raised its position in shares of Alight by 33.3% during the 3rd quarter. Fidelity National Financial Inc. now owns 20,000,000 shares of the company’s stock valued at $141,800,000 after acquiring an additional 5,000,000 shares during the last quarter. State Street Corp lifted its stake in shares of Alight by 616.8% in the 2nd quarter. State Street Corp now owns 5,799,562 shares of the company’s stock valued at $39,147,000 after purchasing an additional 4,990,518 shares during the period. Finally, UBS Group AG boosted its position in shares of Alight by 1,767.5% in the 4th quarter. UBS Group AG now owns 4,998,050 shares of the company’s stock worth $42,633,000 after purchasing an additional 4,730,410 shares during the last quarter. Institutional investors own 79.56% of the company’s stock.

Alight Company Profile

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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.

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