The price of Alight Inc. (NYSE:ALIT) shares last traded on Wall Street rose 2.67% to $8.46.
ALIT stock price is now 17.36% away from the 50-day moving average and 1.85% away from the 200-day moving average. The market capitalization of the company currently stands at $4.24B.
With the price target of $12, Canaccord Genuity recently initiated with Buy rating for Alight Inc. (NYSE: ALIT).
In other news, Massey Richard N, Director bought 50,000 shares of the company’s stock on Oct 05. The stock was bought for $322,490 at an average price of $6.45. Upon completion of the transaction, the Director now directly owns 1,370,169 shares in the company, valued at $11.59 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 22, 10% Owner Blackstone Holdings I/II GP L. sold 14,704,603 shares of the business’s stock. A total of $117,342,732 was realized by selling the stock at an average price of $7.98. This leaves the insider owning 43,602 shares of the company worth $0.37 million. Insiders disposed of 181,258,340 shares of company stock worth roughly $1.53 billion over the past 1 year. A total of 28.24% of the company’s stock is owned by insiders.
During the past 12 months, Alight Inc. has had a low of $6.33 and a high of $10.19. As of last week, the company has a debt-to-equity ratio of 0.65, a current ratio of 1.20, and a quick ratio of 1.20. The fifty day moving average price for ALIT is $7.21 and a two-hundred day moving average price translates $8.31 for the stock.
The latest earnings results from Alight Inc. (NYSE: ALIT) was released for Sep, 2023. According to the Software – Application Company, earnings per share came in at $0.14, beating analysts’ expectations of $0.13 by 0.01. This compares to -$0.10 EPS in the same period last year. The net profit margin was -7.31% and return on equity was -5.59% for ALIT. The company reported revenue of $813.0 million for the quarter, compared to $750.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.4 percent. For the current quarter, analysts expect ALIT to generate $1.03B in revenue.
Alight Inc.(ALIT) Company Profile
Alight, Inc. provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through Employer Solutions, Professional Services, and Hosted Business segments. 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. The Professional Services segment offers consulting offerings, such as cloud advisory, deployment, and optimization services for cloud platforms. The Hosted Business segment provides hosting and management of human capital management software, as well as offers HR and payroll services. Its solutions enable employees to enrich their health, wealth, and wellbeing that helps organizations achieve a high-performance culture. The company is based in Lincolnshire, Illinois.
