Norges Bank Takes Position in The Hackett Group, Inc. (NASDAQ:HCKT)

Norges Bank purchased a new stake in The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 18,400 shares of the business services provider's stock, valued at approximately $565,000. Norges Bank owned approximately 0.07% of The Hackett Group as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on HCKT. StockNews.com cut shares of The Hackett Group from a "strong-buy" rating to a "buy" rating in a report on Thursday, April 10th. Barrington Research reiterated an "outperform" rating and set a $36.00 price objective on shares of The Hackett Group in a research note on Friday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $32.67.

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The Hackett Group Stock Down 0.4 %

NASDAQ HCKT traded down $0.11 during mid-day trading on Tuesday, reaching $26.25. The stock had a trading volume of 94,835 shares, compared to its average volume of 110,868. The stock has a market cap of $729.51 million, a PE ratio of 24.76, a price-to-earnings-growth ratio of 1.53 and a beta of 0.98. The Hackett Group, Inc. has a 1 year low of $20.23 and a 1 year high of $34.02. 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 company has a fifty day moving average price of $29.24 and a 200 day moving average price of $29.29.

The Hackett Group (NASDAQ:HCKT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $77.46 million for the quarter, compared to the consensus estimate of $75.64 million. On average, research analysts expect that The Hackett Group, Inc. will post 1.43 earnings per share for the current year.

The Hackett Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Friday, March 21st. This is an increase from The Hackett Group's previous quarterly dividend of $0.11. The Hackett Group's 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.