Analysts Set Alight, Inc. (NYSE:ALIT) Price Target at $12.71

Alight, Inc. (NYSE:ALIT) has been assigned a consensus rating of “Buy” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $12.71.

A number of research analysts recently commented on the company. Canaccord Genuity Group upped their target price on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Needham & Company LLC upped their target price on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Citigroup restated a “buy” rating and issued a $12.00 target price on shares of Alight in a research note on Friday, January 5th. UBS Group upped their target price on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, Wedbush upped their target price on Alight from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st.

Insiders Place Their Bets

In other news, insider Katie J. Rooney sold 26,164 shares of Alight stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total transaction of $234,167.80. Following the transaction, the insider now owns 2,963,694 shares in the company, valued at approximately $26,525,061.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alight news, CEO Stephan Scholl sold 83,016 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $95.10, for a total value of $7,894,821.60. Following the sale, the chief executive officer now owns 8,115,183 shares in the company, valued at approximately $771,753,903.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katie J. Rooney sold 26,164 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total value of $234,167.80. Following the completion of the sale, the insider now owns 2,963,694 shares in the company, valued at approximately $26,525,061.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 550,129 shares of company stock worth $12,449,117. Insiders own 3.96% of the company’s stock.

Institutional Investors Weigh In On Alight

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Alight by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 35,198,914 shares of the company’s stock worth $300,247,000 after purchasing an additional 547,614 shares in the last quarter. BlackRock Inc. raised its stake in Alight by 4.8% in the 2nd quarter. BlackRock Inc. now owns 25,880,107 shares of the company’s stock valued at $239,132,000 after acquiring an additional 1,191,449 shares during the period. Fidelity National Financial Inc. raised its stake in Alight by 11.5% in the 4th 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. Glenview Capital Management LLC raised its stake in Alight by 11.2% in the 4th 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, DAVENPORT & Co LLC raised its stake in Alight by 4.0% in the 3rd quarter. DAVENPORT & Co LLC now owns 12,324,624 shares of the company’s stock valued at $87,757,000 after acquiring an additional 470,408 shares during the period. Institutional investors own 96.74% of the company’s stock.

Alight Price Performance

ALIT opened at $9.22 on Friday. Alight has a 1-year low of $6.33 and a 1-year high of $10.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.27 and a quick ratio of 1.27. The business has a 50 day moving average of $9.32 and a 200-day moving average of $8.29.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.03 billion. On average, equities analysts expect that Alight will post 0.5 EPS for the current fiscal year.

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.