Pinnacle Associates Ltd. Has $3.59 Million Stock Holdings in The Hackett Group, Inc. (NASDAQ:HCKT)

Pinnacle Associates Ltd. increased its position in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 47.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 136,674 shares of the business services provider's stock after buying an additional 43,775 shares during the period. Pinnacle Associates Ltd. owned 0.49% of The Hackett Group worth $3,590,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Isthmus Partners LLC lifted its position in shares of 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 valued at $36,000 after buying an additional 1,763 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in The Hackett Group in the 3rd quarter valued at $54,000. CWM LLC lifted its holdings in The Hackett Group by 78.4% during the 2nd quarter. CWM LLC now owns 4,667 shares of the business services provider's stock valued at $101,000 after purchasing an additional 2,051 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in The Hackett Group by 18.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,419 shares of the business services provider's stock valued at $183,000 after purchasing an additional 1,283 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in The Hackett Group by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 10,262 shares of the business services provider's stock worth $223,000 after purchasing an additional 851 shares during the period. 78.12% of the stock is owned by institutional investors.

The Hackett Group Stock Performance

HCKT stock traded down $0.10 during trading hours on Friday, hitting $24.22. 89,174 shares of the stock were exchanged, compared to its average volume of 100,805. The Hackett Group, Inc. has a 12 month low of $20.23 and a 12 month high of $27.68. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $669.68 million, a P/E ratio of 19.46, a P/E/G ratio of 1.37 and a beta of 0.91. The company has a 50-day simple moving average of $25.69 and a two-hundred day simple moving average of $23.91.

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 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 business had revenue of $75.90 million for the quarter, compared to analyst estimates of $74.16 million. On average, analysts forecast that The Hackett Group, Inc. will post 1.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HCKT has been the subject of a number of research reports. Barrington Research restated an "outperform" rating and set a $28.00 target price on shares of The Hackett Group in a research note on Wednesday. Roth Capital cut shares of The Hackett Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 7th.

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.