Alight, Inc. $ALIT Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its holdings in Alight, Inc. by 50.4%, owning approximately 1.27% of the company with shares valued at $41.04 million.
• Alight recently reported earnings of $0.10 per share, matching consensus estimates, and had quarterly revenues of $528 million, slightly above expectations.
• Alight announced a quarterly dividend of $0.04, with a 4.2% dividend yield, set to be paid on September 15th.

American Century Companies Inc. increased its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 50.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,920,646 shares of the company's stock after acquiring an additional 2,319,685 shares during the period. American Century Companies Inc. owned approximately 1.27% of Alight worth $41,039,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. CWM LLC lifted its stake in shares of Alight by 364.8% in the 1st quarter. CWM LLC now owns 5,104 shares of the company's stock valued at $30,000 after purchasing an additional 4,006 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Alight by 82.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock valued at $31,000 after purchasing an additional 2,348 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Alight by 5,505.8% in the 1st quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock valued at $46,000 after purchasing an additional 7,653 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Alight by 40.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company's stock valued at $49,000 after purchasing an additional 2,059 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of Alight in the 1st quarter valued at approximately $52,000. 96.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALIT. UBS Group reduced their price target on Alight from $10.00 to $6.50 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Needham & Company LLC decreased their target price on Alight from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, Wedbush cut their price target on Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $9.07.

Alight Trading Down 1.2%

Shares of NYSE ALIT traded down $0.0450 during midday trading on Monday, reaching $3.8250. 2,904,241 shares of the stock were exchanged, compared to its average volume of 8,037,161. Alight, Inc. has a twelve month low of $3.62 and a twelve month high of $8.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $2.06 billion, a P/E ratio of -1.73 and a beta of 1.00. The company has a 50 day simple moving average of $5.11 and a 200 day simple moving average of $5.54.

Alight (NYSE:ALIT - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The company had revenue of $528.00 million for the quarter, compared to the consensus estimate of $525.26 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The company's revenue for the quarter was down 1.9% on a year-over-year basis. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. As a group, equities analysts expect that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. Alight's payout ratio is presently -7.24%.

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.