Alight (NYSE:ALIT) Price Target Lowered to $12.00 at Wedbush

Alight (NYSE:ALIT - Get Free Report) had its price target cut by Wedbush from $14.00 to $12.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Wedbush's price objective would suggest a potential upside of 56.45% from the company's previous close.

A number of other equities analysts have also recently commented on the company. KeyCorp decreased their price target on Alight from $12.00 to $11.00 and set an "overweight" rating on the stock in a research note on Thursday. Canaccord Genuity Group lifted their price target on Alight from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Thursday, March 21st. Needham & Company LLC reduced their target price on Alight from $13.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, UBS Group boosted 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. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alight presently has a consensus rating of "Buy" and an average target price of $12.00.

Alight Price Performance

Shares of ALIT traded down $0.02 during trading hours on Friday, reaching $7.67. 13,450,877 shares of the company's stock traded hands, compared to its average volume of 6,751,880. The stock has a market cap of $4.32 billion, a PE ratio of -13.75, a price-to-earnings-growth ratio of 1.81 and a beta of 0.94. 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 firm's 50 day simple moving average is $9.22 and its 200-day simple moving average is $8.57. Alight has a 12 month low of $6.33 and a 12 month high of $10.38.

Alight (NYSE:ALIT - Get Free Report) last released its earnings results on Wednesday, February 21st. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The company had revenue of $960.00 million during the quarter, compared to the consensus estimate of $1.03 billion. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. Equities analysts expect that Alight will post 0.5 EPS for the current year.

Insider Activity at Alight

In other Alight news, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 8,198,199 shares of the company's stock, valued at $80,424,332.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Katie J. Rooney sold 26,164 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $26,525,061.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephan Scholl sold 428,574 shares of the firm's stock in a transaction dated 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 approximately $80,424,332.19. The disclosure for this sale can be found here. Insiders have sold 543,029 shares of company stock valued at $12,385,217 over the last ninety days. Insiders own 3.66% of the company's stock.

Institutional Trading of Alight

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Xponance Inc. boosted its holdings in Alight by 5.7% during the 4th quarter. Xponance Inc. now owns 25,035 shares of the company's stock valued at $214,000 after acquiring an additional 1,353 shares during the period. First Horizon Advisors Inc. raised its position in shares of Alight by 38.9% in the 4th quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company's stock worth $58,000 after acquiring an additional 1,897 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Alight by 13.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,315 shares of the company's stock worth $123,000 after acquiring an additional 2,082 shares in the last quarter. FourThought Financial Partners LLC raised its position in shares of Alight by 10.2% in the 4th quarter. FourThought Financial Partners LLC now owns 27,673 shares of the company's stock worth $236,000 after acquiring an additional 2,552 shares in the last quarter. Finally, Saxon Interests Inc. raised its position in shares of Alight by 15.4% in the 1st quarter. Saxon Interests Inc. now owns 19,668 shares of the company's stock worth $194,000 after acquiring an additional 2,632 shares in the last quarter. 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.