Raymond James Financial Inc. Invests $1.06 Million in The Hackett Group, Inc. (NASDAQ:HCKT)

Raymond James Financial Inc. acquired a new stake in The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 34,361 shares of the business services provider's stock, valued at approximately $1,056,000. Raymond James Financial Inc. owned 0.12% of The Hackett Group as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings in The Hackett Group by 0.5% in 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. Quantbot Technologies LP lifted its stake in shares of The Hackett Group by 383.4% in the 3rd quarter. Quantbot Technologies LP now owns 2,741 shares of the business services provider's stock valued at $72,000 after purchasing an additional 2,174 shares during the period. BNP Paribas Financial Markets grew its position in The Hackett Group by 20.6% during the third quarter. BNP Paribas Financial Markets now owns 41,375 shares of the business services provider's stock valued at $1,087,000 after buying an additional 7,078 shares during the period. Centiva Capital LP purchased a new position in The Hackett Group in the third quarter valued at $294,000. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in shares of The Hackett Group in the third quarter worth about $3,256,000. Hedge funds and other institutional investors own 78.12% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HCKT shares. StockNews.com upgraded The Hackett Group from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 2nd. Barrington Research upped their target price on The Hackett Group from $28.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $32.67.

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The Hackett Group Price Performance

Shares of HCKT traded down $0.51 during mid-day trading on Tuesday, hitting $26.03. 163,056 shares of the company were exchanged, compared to its average volume of 109,620. The stock has a market cap of $723.40 million, a price-to-earnings ratio of 24.56, 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 50 day moving average of $29.71 and a 200-day moving average of $29.27. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.51 and a current ratio of 1.51.

The Hackett Group (NASDAQ:HCKT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The business services provider reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.06). The firm had revenue of $77.46 million for the quarter, compared to analyst estimates of $75.64 million. The Hackett Group had a net margin of 9.44% and a return on equity of 36.40%. Analysts expect that The Hackett Group, Inc. will post 1.43 EPS for the current fiscal 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 given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.84%. This is a boost from The Hackett Group's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Friday, March 21st. The Hackett Group's dividend payout ratio is 45.28%.

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.