Needham & Company LLC Raises Alight (NYSE:ALIT) Price Target to $11.00

Alight (NYSE:ALIT) had its target price lifted by Needham & Company LLC from $9.00 to $11.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on ALIT. Wedbush dropped their price target on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research note on Tuesday, August 20th. Finally, Citigroup cut their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

Alight Trading Down 0.4 %

NYSE:ALIT opened at $8.43 on Wednesday. The firm has a 50 day moving average of $7.25 and a 200 day moving average of $7.42. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.55. Alight has a 52 week low of $6.15 and a 52 week high of $10.38. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of -17.55 and a beta of 0.87.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Alight had a positive return on equity of 5.53% and a negative net margin of 7.95%. The firm had revenue of $555.00 million during the quarter, compared to analyst estimates of $538.39 million. During the same quarter in the prior year, the business posted $0.07 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alight will post 0.42 earnings per share for the current fiscal year.

Alight Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.04 per share. The ex-dividend date is Monday, December 2nd.

Hedge Funds Weigh In On Alight

A number of institutional investors have recently modified their holdings of ALIT. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Alight by 15.8% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,293,584 shares of the company’s stock worth $9,573,000 after acquiring an additional 176,700 shares during the period. Rubric Capital Management LP boosted its position in Alight by 38.3% in the 3rd quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock worth $86,185,000 after purchasing an additional 3,223,617 shares in the last quarter. FMR LLC boosted its position in Alight by 44.4% in the 3rd quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after purchasing an additional 3,689 shares in the last quarter. Littlejohn & Co. LLC grew its stake in shares of Alight by 6.9% during the 3rd quarter. Littlejohn & Co. LLC now owns 1,450,859 shares of the company’s stock worth $10,736,000 after purchasing an additional 93,500 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Alight by 16.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,898,593 shares of the company’s stock valued at $36,250,000 after purchasing an additional 699,375 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

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.