Alight (NYSE:ALIT) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Alight (NYSE:ALIT) in a research report report published on Monday, Benzinga reports. They currently have a $9.00 price objective on the stock.

Several other equities analysts also recently issued reports on ALIT. Wedbush cut their price objective on Alight from $12.00 to $10.00 and set an outperform rating for the company in a research report on Thursday, August 8th. Bank of America dropped their target price on Alight from $10.00 to $9.50 and set a buy rating for the company in a research report on Tuesday, June 25th. KeyCorp decreased their price target on Alight from $11.00 to $10.00 and set an overweight rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. cut Alight from an overweight rating to a neutral rating and set a $8.00 price objective for the company. in a report on Tuesday, August 20th. Finally, DA Davidson reiterated a buy rating and set a $12.00 price target on shares of Alight in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $10.75.

Alight Stock Down 0.6 %

NYSE ALIT opened at $7.19 on Monday. Alight has a 1-year low of $6.15 and a 1-year high of $10.38. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average is $7.19 and its two-hundred day moving average is $7.87. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of -11.60 and a beta of 0.86.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Alight had a positive return on equity of 5.42% and a negative net margin of 6.58%. The firm had revenue of $787.00 million for the quarter, compared to analysts’ expectations of $791.22 million. Equities analysts forecast that Alight will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Katie J. Rooney sold 47,851 shares of Alight stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $7.11, for a total transaction of $340,220.61. Following the transaction, the chief operating officer now owns 2,880,753 shares in the company, valued at approximately $20,482,153.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.33% of the company’s stock.

Institutional Investors Weigh In On Alight

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its holdings in 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 purchasing an additional 2,961 shares in the last quarter. Motco bought a new stake in Alight in the 1st quarter valued at approximately $95,000. Ingalls & Snyder LLC lifted its stake in Alight by 20.9% in the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after acquiring an additional 2,235 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Alight during the 2nd quarter worth approximately $105,000. Finally, Duality Advisers LP acquired a new stake in shares of Alight in the first quarter valued at approximately $119,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

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.