Alight Solutions (ALIT) PT Raised to $13 at UBS
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Alight Solutions (ALIT) PT Raised to $13 at Needham
March 21, 2024 5:46 AM EDTNeedham analyst Kyle Peterson raised the price target on Alight Solutions (NYSE: ALIT) to $13.00 (from $12.00) while maintaining a Buy rating.
The analyst comments "Yesterday, ALIT announced that it has reached an agreement to sell its professional services and HCM/payroll outsourcing... More
KeyBanc Reiterates Overweight Rating on Alight Solutions (ALIT)
March 20, 2024 2:10 PM EDTKeyBanc analyst Scott Schoenhaus reiterated an Overweight rating and $12.00 price target on Alight Solutions (NYSE: ALIT).
The analyst commented, "This morning, ALIT announced that it has signed a definitive agreement to sell its Professional Services segment and its Payroll & HCM Outsourcing businesses within the Employer Solutions segment to an affiliate of H.I.G. Capital for up to $1.2B... More
DA Davidson on Alight Solutions (ALIT): 'Divestiture of Payroll & Prof Services Viewed Positively'
March 20, 2024 1:18 PM EDTDA Davidson analyst Peter Heckmann reiterated a Buy rating and $14.00 price target on Alight Solutions (NYSE: ALIT)
The analyst comments "Alight announced a definitive agreement to sell its Payroll, HCM Outsourcing, and Professional Services businesses to an affiliate of... More
Alight Solutions (ALIT) to Sell Payroll and Professional Services Business to H.I.G. Capital for up to $1.2B
March 20, 2024 9:16 AM EDTAlight, Inc. (NYSE: ALIT), a leading cloud-based human capital technology and services provider, today announced that it has signed a definitive agreement to sell its Professional Services segment and its Payroll & HCM Outsourcing businesses within the Employer Solutions segment (the Payroll & Professional Services business) to an affiliate of H.I.G. Capital for up to $1.2 billion, subject to certain adjustments. This values the Payroll & Professional Services business at a multiple of approximately 10 times its estimated 2023 adjusted EBITDA and 24 times its estimated unlevered free cash flow.
Following the transaction, Alight and the Payroll & Professional... More
