Rhumbline Advisers increased its position in The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 38.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 53,049 shares of the business services provider's stock after purchasing an additional 14,863 shares during the period. Rhumbline Advisers owned about 0.19% of The Hackett Group worth $1,630,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of The Hackett Group during the 3rd quarter worth about $3,256,000. Dean Investment Associates LLC increased its holdings in The Hackett Group by 57.2% in the third quarter. Dean Investment Associates LLC now owns 165,647 shares of the business services provider's stock worth $4,352,000 after buying an additional 60,307 shares during the last quarter. JPMorgan Chase & Co. raised its position in The Hackett Group by 96.9% during the third quarter. JPMorgan Chase & Co. now owns 98,884 shares of the business services provider's stock valued at $2,598,000 after acquiring an additional 48,661 shares in the last quarter. Barclays PLC lifted its stake in The Hackett Group by 202.1% in the third quarter. Barclays PLC now owns 56,350 shares of the business services provider's stock valued at $1,481,000 after acquiring an additional 37,695 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in The Hackett Group by 4.4% in the third quarter. Geode Capital Management LLC now owns 700,253 shares of the business services provider's stock worth $18,399,000 after acquiring an additional 29,699 shares in the last quarter. 78.12% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on HCKT shares. StockNews.com lowered The Hackett Group from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 27th. Barrington Research raised their price objective on The Hackett Group from $28.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, The Hackett Group presently has an average rating of "Moderate Buy" and an average price target of $32.67.
Get Our Latest Research Report on The Hackett Group
The Hackett Group Price Performance
HCKT traded down $0.18 during midday trading on Friday, reaching $29.18. 160,440 shares of the company's stock were exchanged, compared to its average volume of 109,894. 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 business has a 50-day simple moving average of $30.58 and a two-hundred day simple moving average of $28.87. The firm has a market capitalization of $805.16 million, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 1.53 and a beta of 0.99. The Hackett Group, Inc. has a one year low of $20.23 and a one year high of $34.02.
The Hackett Group (NASDAQ:HCKT - Get Free Report) last posted its earnings results on Tuesday, February 18th. The business services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.06). The company had revenue of $77.46 million for the quarter, compared to the consensus estimate of $75.64 million. The Hackett Group had a return on equity of 36.40% and a net margin of 9.44%. As a group, research analysts predict that The Hackett Group, Inc. will post 1.43 EPS for the current year.
The Hackett Group Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be given a $0.12 dividend. The ex-dividend date is Friday, March 21st. This is a positive change from The Hackett Group's previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.64%. The Hackett Group's payout ratio is 45.28%.
About The Hackett Group
(
Free Report)
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.
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