Alight (NYSE:ALIT) Stock Rating Reaffirmed by Needham & Company LLC (2024)

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

ALIT has been the subject of a number of other research reports. Canaccord Genuity Group upped their target price on shares of Alight from $12.00 to $13.00 and gave the stock a buy rating in a report on Thursday, March 21st. Bank of America dropped their target price on shares of Alight from $10.00 to $9.50 and set a buy rating for the company in a report on Tuesday, June 25th. UBS Group boosted their price target on shares of Alight from $12.00 to $13.00 and gave the company a buy rating in a research report on Thursday, March 21st. KeyCorp lowered their price target on shares of Alight from $12.00 to $11.00 and set an overweight rating on the stock in a research report on Thursday, May 9th. Finally, Wedbush lowered their price target on shares of Alight from $14.00 to $12.00 and set an outperform rating on the stock in a research report on Friday, May 10th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $11.72.

Get Our Latest Analysis on Alight

Alight Price Performance

NYSE ALIT traded down $0.26 on Monday, hitting $7.12. The company had a trading volume of 3,778,373 shares, compared to its average volume of 6,485,337. Alight has a 12-month low of $6.33 and a 12-month high of $10.38. The company has a market capitalization of $4.00 billion, a PE ratio of -11.90, a PEG ratio of 1.45 and a beta of 0.87. The company's fifty day moving average price is $8.01 and its 200-day moving average price is $8.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.57 and a quick ratio of 1.57.

Alight (NYSE:ALIT - Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.07. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. The business had revenue of $816.00 million during the quarter, compared to analyst estimates of $832.41 million. As a group, analysts predict that Alight will post 0.52 earnings per share for the current year.

Insider Buying and Selling at Alight

In other Alight news, CEO Stephan Scholl sold 83,016 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $95.10, for a total value of $7,894,821.60. Following the transaction, the chief executive officer now directly owns 8,115,183 shares in the company, valued at $771,753,903.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alight

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Alight by 8.1% in the first quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company's stock valued at $374,707,000 after acquiring an additional 2,842,454 shares during the period. Fidelity National Financial Inc. boosted its holdings in shares of Alight by 11.5% in the fourth quarter. Fidelity National Financial Inc. now owns 22,300,000 shares of the company's stock valued at $190,219,000 after acquiring an additional 2,300,000 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Alight by 1.8% in the first quarter. Janus Henderson Group PLC now owns 19,060,481 shares of the company's stock valued at $187,745,000 after acquiring an additional 331,303 shares during the period. Glenview Capital Management LLC boosted its holdings in shares of Alight by 11.2% in the fourth quarter. Glenview Capital Management LLC now owns 18,202,012 shares of the company's stock valued at $155,263,000 after acquiring an additional 1,835,481 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings 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 valued at $103,826,000 after acquiring an additional 3,018,711 shares during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Company Profile

(Get Free Report)

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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