Wellington Management Group LLP Cuts Holdings in The Hackett Group, Inc. (NASDAQ:HCKT)

Wellington Management Group LLP decreased its position in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 14.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 373,991 shares of the business services provider's stock after selling 61,912 shares during the period. Wellington Management Group LLP owned 1.36% of The Hackett Group worth $9,825,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new stake in The Hackett Group in the third quarter worth about $54,000. Quantbot Technologies LP boosted its stake in 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 worth $72,000 after purchasing an additional 2,174 shares in the last quarter. CWM LLC increased its stake in The Hackett Group by 78.4% during the 2nd quarter. CWM LLC now owns 4,667 shares of the business services provider's stock valued at $101,000 after purchasing an additional 2,051 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in The Hackett Group by 18.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,419 shares of the business services provider's stock valued at $183,000 after purchasing an additional 1,283 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of The Hackett Group by 9.0% in the second quarter. The Manufacturers Life Insurance Company now owns 10,262 shares of the business services provider's stock worth $223,000 after buying an additional 851 shares during the last quarter. 78.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barrington Research reissued an "outperform" rating and issued a $28.00 target price on shares of The Hackett Group in a research report on Tuesday, November 5th. Roth Mkm boosted their price target on The Hackett Group from $29.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Finally, Craig Hallum raised their price objective on The Hackett Group from $30.00 to $32.00 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.00.

The Hackett Group Stock Performance

NASDAQ HCKT traded up $0.17 on Monday, reaching $32.11. 107,638 shares of the company's stock traded hands, compared to its average volume of 102,741. The Hackett Group, Inc. has a fifty-two week low of $20.23 and a fifty-two week high of $32.83. 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 firm has a market cap of $886.01 million, a price-to-earnings ratio of 26.23, a P/E/G ratio of 1.73 and a beta of 1.00. The stock has a 50 day moving average price of $28.71 and a 200-day moving average price of $25.88.

The Hackett Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Friday, December 20th. The Hackett Group's 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.