JPMorgan Chase & Co. Buys 55,608 Shares of The Hackett Group, Inc. (NASDAQ:HCKT)

JPMorgan Chase & Co. lifted its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 56.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 154,492 shares of the business services provider's stock after purchasing an additional 55,608 shares during the period. JPMorgan Chase & Co. owned approximately 0.56% of The Hackett Group worth $4,746,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc grew its holdings in The Hackett Group by 353.1% during the fourth quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock valued at $29,000 after purchasing an additional 738 shares during the period. Quantbot Technologies LP grew its holdings in shares of The Hackett Group by 52.5% in the 4th quarter. Quantbot Technologies LP now owns 4,180 shares of the business services provider's stock valued at $128,000 after buying an additional 1,439 shares during the period. Longboard Asset Management LP acquired a new stake in The Hackett Group during the 4th quarter worth $207,000. Arizona State Retirement System acquired a new stake in The Hackett Group during the 4th quarter worth $221,000. Finally, Principal Financial Group Inc. acquired a new position in The Hackett Group in the fourth quarter valued at about $248,000. 78.12% of the stock is owned by institutional investors.

The Hackett Group Stock Up 0.5 %

NASDAQ:HCKT traded up $0.12 during trading hours on Thursday, reaching $25.64. 7,720 shares of the stock were exchanged, compared to its average volume of 110,712. The firm has a 50 day moving average of $28.39 and a 200 day moving average of $29.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market cap of $708.98 million, a PE ratio of 24.16, a PEG ratio of 1.53 and a beta of 0.98. The Hackett Group, Inc. has a twelve month low of $20.23 and a twelve month high of $34.02.

The Hackett Group (NASDAQ:HCKT - Get Free Report) last posted its quarterly earnings results 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 return on equity of 36.40% and a net margin of 9.44%. The company had revenue of $77.46 million for the quarter, compared to analyst estimates of $75.64 million. On average, equities analysts expect that The Hackett Group, Inc. will post 1.43 earnings per share for the current year.

The Hackett Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were paid a dividend of $0.12 per share. This is an increase from The Hackett Group's previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Friday, March 21st. The Hackett Group's payout ratio is currently 45.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barrington Research reiterated an "outperform" rating and set a $36.00 price objective on shares of The Hackett Group in a report on Friday, April 11th. StockNews.com lowered shares of The Hackett Group from a "strong-buy" rating to a "buy" rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, The Hackett Group has a consensus rating of "Moderate Buy" and a consensus target price of $32.67.

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.