Alight (NYSE:ALIT) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Alight (NYSE:ALIT - Free Report) had its price objective raised by Needham & Company LLC from $9.00 to $11.00 in a report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Citigroup cut their target price on shares of Alight from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. JPMorgan Chase & Co. downgraded Alight from an "overweight" rating to a "neutral" rating and set a $8.00 target price for the company. in a research note on Tuesday, August 20th. Finally, Wedbush dropped their price target on Alight from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $10.95.

Alight Stock Down 0.8 %

ALIT stock traded down $0.07 during trading hours on Wednesday, reaching $8.39. 8,580,253 shares of the stock were exchanged, compared to its average volume of 5,680,440. The company has a market cap of $4.58 billion, a price-to-earnings ratio of -17.71 and a beta of 0.87. The firm's 50-day moving average is $7.23 and its 200-day moving average is $7.41. Alight has a 12 month low of $6.15 and a 12 month high of $10.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37.

Alight (NYSE:ALIT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.53%. The company's revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS. On average, equities research analysts expect that Alight will post 0.42 earnings per share for the current year.

Alight Dividend Announcement

The firm also recently declared a -- dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 2nd.

Institutional Trading of Alight

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its position in shares of Alight by 65.3% in the second 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 during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Alight during the 3rd quarter worth approximately $74,000. KBC Group NV boosted its position in shares of Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company's stock worth $89,000 after acquiring an additional 2,331 shares in the last quarter. FMR LLC increased its stake in Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company's stock valued at $89,000 after acquiring an additional 3,689 shares during the last quarter. Finally, Motco bought a new stake in Alight during the first quarter worth $95,000. Institutional investors and hedge funds 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.