State Street Corp Increases Stock Position in The Hackett Group, Inc. (NASDAQ:HCKT)

State Street Corp raised its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 641,783 shares of the business services provider's stock after purchasing an additional 25,249 shares during the quarter. State Street Corp owned approximately 2.33% of The Hackett Group worth $16,927,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Stifel Financial Corp increased its position in shares of The Hackett Group by 18.0% during 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. Quantinno Capital Management LP bought a new stake in The Hackett Group during the 3rd quarter valued at approximately $276,000. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of The Hackett Group during the 3rd quarter worth approximately $3,256,000. Centiva Capital LP bought a new position in shares of The Hackett Group in the 3rd quarter worth approximately $294,000. Finally, BNP Paribas Financial Markets boosted its position in shares of 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 purchasing an additional 7,078 shares in the last quarter. 78.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on HCKT. Craig Hallum increased their price objective on The Hackett Group from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Barrington Research reiterated an "outperform" rating and issued a $28.00 price target on shares of The Hackett Group in a research note on Tuesday, November 5th. Finally, Roth Mkm boosted their price objective on shares of The Hackett Group from $29.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, The Hackett Group has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

The Hackett Group Stock Up 1.2 %

The Hackett Group stock traded up $0.37 during mid-day trading on Wednesday, hitting $30.78. The company had a trading volume of 39,268 shares, compared to its average volume of 102,724. The Hackett Group, Inc. has a 12 month low of $20.23 and a 12 month high of $32.83. The stock's 50 day moving average price is $29.50 and its two-hundred day moving average price is $26.32. The company has a market capitalization of $849.31 million, a PE ratio of 25.23, a price-to-earnings-growth ratio of 1.73 and a beta of 1.00. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.18.

The Hackett Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be paid a $0.11 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.44 annualized dividend and a dividend yield of 1.43%. The Hackett Group's dividend payout ratio is presently 36.07%.

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.