Prudential Financial Inc. Acquires New Position in The Hackett Group, Inc. (NASDAQ:HCKT)

Prudential Financial Inc. purchased a new position in The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 25,340 shares of the business services provider's stock, valued at approximately $778,000. Prudential Financial Inc. owned about 0.09% of The Hackett Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HCKT. Charles Schwab Investment Management Inc. grew its position in The Hackett Group by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 266,317 shares of the business services provider's stock valued at $6,996,000 after acquiring an additional 1,350 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of The Hackett Group by 20.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 41,375 shares of the business services provider's stock valued at $1,087,000 after purchasing an additional 7,078 shares in the last quarter. Centiva Capital LP purchased a new stake in shares of The Hackett Group during the 3rd quarter worth about $294,000. Quantinno Capital Management LP acquired a new stake in The Hackett Group during the 3rd quarter worth approximately $276,000. Finally, Stifel Financial Corp raised its holdings in The Hackett Group by 18.0% in the third quarter. Stifel Financial Corp now owns 22,989 shares of the business services provider's stock valued at $604,000 after buying an additional 3,501 shares during the period. Hedge funds and other institutional investors own 78.12% of the company's stock.

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The Hackett Group Stock Down 0.3 %

Shares of HCKT traded down $0.08 during mid-day trading on Friday, reaching $26.26. 120,053 shares of the stock traded hands, compared to its average volume of 110,601. The stock has a fifty day simple moving average of $29.35 and a 200 day simple moving average of $29.27. The Hackett Group, Inc. has a 12-month low of $20.23 and a 12-month high of $34.02. 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 firm has a market cap of $729.79 million, a price-to-earnings ratio of 24.77, a P/E/G ratio of 1.53 and a beta of 0.98.

The Hackett Group (NASDAQ:HCKT - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.35 earnings per share (EPS) 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 firm had revenue of $77.46 million for the quarter, compared to analysts' expectations of $75.64 million. Sell-side analysts expect that The Hackett Group, Inc. will post 1.43 EPS for the current fiscal year.

The Hackett Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Friday, March 21st. This is a positive change from The Hackett Group's previous quarterly dividend of $0.11. The Hackett Group's dividend payout ratio is 45.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HCKT shares. 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. StockNews.com downgraded The Hackett Group from a "strong-buy" rating to a "buy" rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $32.67.

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.