Bank of New York Mellon Corp Sells 16,668 Shares of The Hackett Group, Inc. (NASDAQ:HCKT)

Bank of New York Mellon Corp reduced its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 211,895 shares of the business services provider's stock after selling 16,668 shares during the period. Bank of New York Mellon Corp owned 0.77% of The Hackett Group worth $6,509,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Sanctuary Advisors LLC increased its position in The Hackett Group by 4.6% in the 4th quarter. Sanctuary Advisors LLC now owns 23,836 shares of the business services provider's stock worth $738,000 after purchasing an additional 1,059 shares during the last quarter. Principal Financial Group Inc. bought a new stake in The Hackett Group during the fourth quarter worth approximately $248,000. Rhumbline Advisers grew its holdings in The Hackett Group by 38.9% during the fourth quarter. Rhumbline Advisers now owns 53,049 shares of the business services provider's stock valued at $1,630,000 after purchasing an additional 14,863 shares during the last quarter. Legato Capital Management LLC lifted its stake in shares of The Hackett Group by 4.3% in the fourth quarter. Legato Capital Management LLC now owns 56,629 shares of the business services provider's stock worth $1,740,000 after buying an additional 2,337 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in The Hackett Group by 11.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 33,349 shares of the business services provider's stock valued at $1,010,000 after buying an additional 3,497 shares during the last quarter. 78.12% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HCKT. Barrington Research upped their price target on shares of The Hackett Group from $28.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. StockNews.com cut The Hackett Group from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, The Hackett Group currently has an average rating of "Moderate Buy" and an average target price of $32.67.

The Hackett Group Stock Performance

HCKT traded down $0.01 during trading on Thursday, reaching $28.76. 63,490 shares of the company's stock were exchanged, compared to its average volume of 102,730. The company has a market capitalization of $799.27 million, a P/E ratio of 27.15, a PEG ratio of 1.53 and a beta of 1.03. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average price of $30.29 and a 200 day moving average price of $29.02. The Hackett Group, Inc. has a fifty-two week low of $20.23 and a fifty-two week high of $34.02.

The Hackett Group (NASDAQ:HCKT - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.06). The Hackett Group had a net margin of 9.44% and a return on equity of 36.40%. The company had revenue of $77.46 million during the quarter, compared to the consensus estimate of $75.64 million. As a group, analysts predict that The Hackett Group, Inc. will post 1.43 earnings per share for the current fiscal year.

The Hackett Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.12 per share. This is a boost from The Hackett Group's previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Friday, March 21st. The Hackett Group's dividend payout ratio is 45.28%.

The Hackett Group Company Profile

The Hackett Group, Inc operates as an intellectual property-based executive advisory, strategic consulting, and digital transformation company in the United States, Europe, and internationally. The company operates through three segments: Global Strategy & Business Transformation, Oracle Solutions, and SAP Solutions.