5 Best Tech Stocks To Buy Right Now Under $10

2. Alight Inc. (NYSE:ALIT)

Number of Hedge Fund Holders: 41

Share Price as of July 25: $9.83

A total of 41 hedge funds held stakes in Alight Inc. (NYSE:ALIT) in the first quarter, with a total stake value of $946.7 million.

Alight Inc. (NYSE:ALIT) is a provider of cloud-based integrated digital human capital and business solutions. It is based in Lincolnshire, Illinois.

Peter Christiansen at Citigroup initiated coverage on Alight Inc. (NYSE:ALIT) on June 13 with a Buy rating and a $12 price target.

This is what Polen Capital said about Alight Inc. (NYSE:ALIT) in its first-quarter 2023 investor letter:

“New additions to the portfolio included Alight, Inc. (NYSE:ALIT) and DocGo. Alight is a leading cloud-based provider of employee engagement tools and solutions for workplace benefits, payroll, administration, and wealth services. Alight was founded 25 years ago, and, in keeping with the flywheel, has a long history of consistently growing recurring revenue. Over the past several years, Alight has deployed capital towards several value-add acquisitions and towards developing a technology platform for what they call “business process as a service” or “BPaaS”. This has only furthered Alight’s unique positioning and opened up significant growth opportunities.To give a sense for their scale, they serve 15% of the US workforce and their solutions can be found in 50% of Fortune 500 companies. Alight’s human capital BPaaS solutions combine Software as a Service (“SaaS”) capabilities, artificial intelligence, automation, and data analytics to deliver superior outcomes for employees and employers across a comprehensive portfolio of services. We expect Alight to drive consistent growth on the back of upsell/cross-sell opportunities with existing clients, as well as from new customer wins, international expansion and M&A.”