Franklin Resources Inc. Sells 16,470 Shares of The Hackett Group, Inc. (NASDAQ:HCKT)

Franklin Resources Inc. cut its holdings in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 143,969 shares of the business services provider's stock after selling 16,470 shares during the quarter. Franklin Resources Inc. owned 0.52% of The Hackett Group worth $3,709,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Isthmus Partners LLC boosted its position in The Hackett Group by 1.1% during the second quarter. Isthmus Partners LLC now owns 164,195 shares of the business services provider's stock valued at $36,000 after buying an additional 1,763 shares during the period. Financial Management Professionals Inc. bought a new position in The Hackett Group during the 3rd quarter worth approximately $54,000. Quantbot Technologies LP increased its stake in The Hackett Group by 383.4% in the 3rd quarter. Quantbot Technologies LP now owns 2,741 shares of the business services provider's stock worth $72,000 after purchasing an additional 2,174 shares during the period. CWM LLC boosted its stake in shares of The Hackett Group by 8.4% during the third quarter. CWM LLC now owns 5,061 shares of the business services provider's stock valued at $133,000 after purchasing an additional 394 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of The Hackett Group by 18.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,419 shares of the business services provider's stock worth $183,000 after purchasing an additional 1,283 shares during the last quarter. 78.12% of the stock is currently owned by institutional investors.

The Hackett Group Trading Up 1.2 %

Shares of NASDAQ:HCKT traded up $0.37 on Wednesday, hitting $30.78. The company had a trading volume of 39,268 shares, compared to its average volume of 102,724. The firm's 50-day simple moving average is $29.50 and its two-hundred day simple moving average is $26.32. The firm has a market capitalization of $849.31 million, a price-to-earnings ratio of 25.23, a P/E/G ratio of 1.73 and a beta of 1.00. 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 Hackett Group, Inc. has a 1 year low of $20.23 and a 1 year high of $32.83.

The Hackett Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, December 20th. The Hackett Group's dividend payout ratio is currently 36.07%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HCKT. Barrington Research reissued an "outperform" rating and set a $28.00 price target on shares of The Hackett Group in a research report on Tuesday, November 5th. Craig Hallum increased their target price on shares of The Hackett Group from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, Roth Mkm boosted their price target on The Hackett Group from $29.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $30.00.

About The Hackett Group

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.