Alight, Inc. (NYSE:ALIT) Receives Consensus Rating of "Buy" from Analysts

Alight, Inc. (NYSE:ALIT - Get Free Report) has been given a consensus rating of "Buy" by the seven research firms that are covering the firm, Marketbeat reports. Seven analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued a report on the stock in the last year is $12.71.

Several equities research analysts have commented on the company. Wedbush reiterated an "outperform" rating and set a $14.00 price objective on shares of Alight in a research note on Thursday, April 25th. Citigroup restated a "buy" rating and issued a $12.00 price target on shares of Alight in a research report on Friday, January 5th. Canaccord Genuity Group upped their price target on Alight from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. Needham & Company LLC upped their price target on Alight from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. Finally, UBS Group upped their price target on Alight from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Thursday, March 21st.

Insider Buying and Selling

In related news, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total value of $4,204,310.94. Following the completion of the transaction, the chief executive officer now directly owns 8,198,199 shares in the company, valued at $80,424,332.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Alight news, CEO Stephan Scholl sold 428,574 shares of the company's stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total transaction of $4,204,310.94. Following the transaction, the chief executive officer now directly owns 8,198,199 shares in the company, valued at $80,424,332.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katie J. Rooney sold 26,164 shares of the company's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total value of $234,167.80. Following the transaction, the insider now owns 2,963,694 shares in the company, valued at $26,525,061.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 550,129 shares of company stock worth $12,449,117. Company insiders own 3.96% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its stake in Alight by 38.9% in the fourth quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company's stock valued at $58,000 after buying an additional 1,897 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Alight in the third quarter valued at about $52,000. Allspring Global Investments Holdings LLC lifted its position in Alight by 86.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 12,182 shares of the company's stock valued at $86,000 after purchasing an additional 5,661 shares during the period. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Alight in the first quarter valued at about $147,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Alight during the 3rd quarter valued at approximately $109,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Price Performance

NYSE:ALIT traded up $0.21 during trading hours on Thursday, hitting $9.20. 4,724,020 shares of the stock were exchanged, compared to its average volume of 6,363,046. Alight has a 52-week low of $6.33 and a 52-week high of $10.38. The firm's fifty day moving average price is $9.26 and its 200 day moving average price is $8.50. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58. The company has a market cap of $5.18 billion, a P/E ratio of -16.73, a P/E/G ratio of 1.75 and a beta of 0.93.

Alight (NYSE:ALIT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.23 EPS for the quarter, topping 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 analyst estimates of $1.03 billion. As a group, equities research analysts anticipate 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.