Alight, Inc. (NYSE:ALIT) Receives $9.94 Consensus PT from Analysts

Shares of Alight, Inc. (NYSE:ALIT - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $9.94.

ALIT has been the topic of several recent analyst reports. DA Davidson reaffirmed a "buy" rating and issued a $10.00 price target on shares of Alight in a research note on Wednesday, March 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $9.00 price target on shares of Alight in a research note on Monday, March 24th. Finally, Wedbush decreased their price target on Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th.

Alight Price Performance

Shares of ALIT stock traded down $0.03 during mid-day trading on Friday, reaching $5.43. The company's stock had a trading volume of 4,496,227 shares, compared to its average volume of 6,374,329. Alight has a 1-year low of $4.49 and a 1-year high of $8.93. The company has a market cap of $2.92 billion, a P/E ratio of -18.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The firm's 50-day moving average is $5.30 and its two-hundred day moving average is $6.27.

Alight (NYSE:ALIT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The business had revenue of $548.00 million during the quarter, compared to the consensus estimate of $542.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The business's revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. On average, research analysts predict that Alight will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.16 annualized dividend and a yield of 2.95%. Alight's dividend payout ratio is -114.29%.

Insider Activity

In other news, Director David D. Guilmette bought 50,000 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were bought at an average cost of $5.69 per share, for a total transaction of $284,500.00. Following the completion of the acquisition, the director now owns 600,750 shares in the company, valued at approximately $3,418,267.50. This trade represents a 9.08% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Alight

Several large investors have recently made changes to their positions in the stock. Barclays PLC grew its position in Alight by 148.2% in the third quarter. Barclays PLC now owns 815,841 shares of the company's stock valued at $6,037,000 after purchasing an additional 487,185 shares in the last quarter. Blue Trust Inc. grew its position in Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock valued at $25,000 after purchasing an additional 1,729 shares in the last quarter. KBC Group NV grew its position in Alight by 89.2% in the fourth quarter. KBC Group NV now owns 22,802 shares of the company's stock valued at $158,000 after purchasing an additional 10,753 shares in the last quarter. Samson Rock Capital LLP grew its position in Alight by 110.0% in the fourth quarter. Samson Rock Capital LLP now owns 504,000 shares of the company's stock valued at $3,488,000 after purchasing an additional 264,000 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in Alight in the fourth quarter valued at $107,000. 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.