Millennium Management LLC Raises Position in The Hackett Group, Inc. (NASDAQ:HCKT)

Millennium Management LLC raised its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 293.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 224,567 shares of the business services provider's stock after purchasing an additional 167,453 shares during the quarter. Millennium Management LLC owned 0.81% of The Hackett Group worth $4,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of HCKT. Isthmus Partners LLC grew its position in The Hackett Group by 1.1% in the second quarter. Isthmus Partners LLC now owns 164,195 shares of the business services provider's stock worth $36,000 after acquiring an additional 1,763 shares in the last quarter. CWM LLC boosted its position in The Hackett Group by 78.4% during the second quarter. CWM LLC now owns 4,667 shares of the business services provider's stock valued at $101,000 after buying an additional 2,051 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in The Hackett Group by 18.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,419 shares of the business services provider's stock valued at $183,000 after buying an additional 1,283 shares during the period. BOKF NA purchased a new stake in The Hackett Group during the first quarter valued at about $305,000. Finally, Quadrature Capital Ltd purchased a new stake in The Hackett Group during the fourth quarter valued at about $309,000. 78.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on HCKT shares. Barrington Research restated an "outperform" rating and set a $28.00 price target on shares of The Hackett Group in a research report on Wednesday, September 25th. Roth Capital lowered shares of The Hackett Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 7th.

The Hackett Group Trading Up 1.5 %

Shares of The Hackett Group stock traded up $0.37 during trading on Friday, reaching $25.69. 66,036 shares of the stock were exchanged, compared to its average volume of 102,242. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. The stock's fifty day moving average is $25.80 and its 200 day moving average is $23.75. The firm has a market cap of $709.40 million, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.42 and a beta of 0.91. The Hackett Group, Inc. has a 1 year low of $20.23 and a 1 year high of $27.68.

The Hackett Group (NASDAQ:HCKT - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.31. The Hackett Group had a net margin of 11.46% and a return on equity of 38.20%. The company had revenue of $75.90 million during the quarter, compared to the consensus estimate of $74.16 million. As a group, equities research analysts expect that The Hackett Group, Inc. will post 1.28 earnings per share for the current fiscal year.

The Hackett Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 20th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Friday, September 20th. The Hackett Group's dividend payout ratio is 34.92%.

The Hackett Group 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.