Alight (NYSE:ALIT) Price Target Raised to $11.00 at KeyCorp

Alight (NYSE:ALIT) had its price objective raised by KeyCorp from $10.00 to $11.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on the company. Wedbush cut their price target on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group raised their target price on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. cut 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. Needham & Company LLC raised their target price on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Citigroup cut their target price on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.95.

Alight Price Performance

NYSE:ALIT opened at $7.73 on Wednesday. Alight has a one year low of $6.15 and a one year high of $10.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.37 and a current ratio of 1.30. The stock has a market cap of $4.22 billion, a PE ratio of -16.10 and a beta of 0.87. The stock has a 50 day moving average price of $7.28 and a 200 day moving average price of $7.41.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The firm had revenue of $555.00 million during the quarter, compared to analysts’ expectations of $538.39 million. During the same quarter last year, the firm earned $0.07 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts expect that Alight will post 0.42 EPS for the current fiscal year.

Alight Announces Dividend

The company also recently declared a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd.

Insider Transactions at Alight

In related news, Director William P. Foley II sold 5,000,000 shares of Alight stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the transaction, the director now directly owns 883,323 shares in the company, valued at approximately $7,287,414.75. This trade represents a 84.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Alight by 8.1% in the first quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock valued at $374,707,000 after purchasing an additional 2,842,454 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Alight by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock valued at $155,463,000 after purchasing an additional 3,342,413 shares during the period. Janus Henderson Group PLC boosted its holdings in Alight by 1.8% in the first quarter. Janus Henderson Group PLC now owns 19,060,481 shares of the company’s stock valued at $187,745,000 after purchasing an additional 331,303 shares during the period. State Street Corp lifted its holdings in Alight by 1.2% during the 3rd quarter. State Street Corp now owns 11,905,766 shares of the company’s stock worth $88,103,000 after buying an additional 141,828 shares during the last quarter. Finally, Rubric Capital Management LP lifted its holdings in Alight by 38.3% during the 3rd quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock worth $86,185,000 after buying an additional 3,223,617 shares during the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

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.