Acadian Asset Management LLC lowered its position in shares of The Hackett Group, Inc. (NASDAQ:HCKT – Free Report) by 78.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,860 shares of the business services provider’s stock after selling 403,680 shares during the period. Acadian Asset Management LLC owned approximately 0.40% of The Hackett Group worth $2,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in HCKT. Martingale Asset Management L P boosted its position in shares of The Hackett Group by 0.6% during the 4th quarter. Martingale Asset Management L P now owns 84,674 shares of the business services provider’s stock worth $1,725,000 after purchasing an additional 510 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of The Hackett Group by 1.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 41,951 shares of the business services provider’s stock worth $796,000 after purchasing an additional 574 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of The Hackett Group by 6.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,682 shares of the business services provider’s stock worth $238,000 after purchasing an additional 676 shares during the period. California State Teachers Retirement System boosted its position in shares of The Hackett Group by 2.2% during the 3rd quarter. California State Teachers Retirement System now owns 32,429 shares of the business services provider’s stock worth $575,000 after purchasing an additional 705 shares during the period. Finally, Ellsworth Advisors LLC boosted its position in shares of The Hackett Group by 3.7% during the 1st quarter. Ellsworth Advisors LLC now owns 20,286 shares of the business services provider’s stock worth $375,000 after purchasing an additional 726 shares during the period. Institutional investors and hedge funds own 81.69% of the company’s stock.
Analysts Set New Price Targets
HCKT has been the subject of a number of research analyst reports. StockNews.com cut shares of The Hackett Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Barrington Research raised their price target on shares of The Hackett Group from $24.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th.
The Hackett Group Stock Performance
Shares of HCKT stock opened at $24.02 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.72. The Hackett Group, Inc. has a 52 week low of $17.10 and a 52 week high of $24.82. The stock has a market capitalization of $653.75 million, a PE ratio of 19.22, a P/E/G ratio of 1.35 and a beta of 0.87. The firm has a 50 day moving average of $22.90 and a two-hundred day moving average of $20.49.
The Hackett Group (NASDAQ:HCKT – Get Free Report) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The Hackett Group had a net margin of 12.73% and a return on equity of 38.35%. The business had revenue of $75.64 million during the quarter, compared to analysts’ expectations of $72.90 million. On average, research analysts predict that The Hackett Group, Inc. will post 1.26 EPS for the current fiscal year.
The Hackett Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 22nd will be issued a $0.11 dividend. The ex-dividend date is Thursday, September 21st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.83%. The Hackett Group’s payout ratio is 35.20%.
The Hackett Group Company Profile
The Hackett Group, Inc operates as a strategic advisory and technology consulting firm primarily in the United States, Europe, and internationally. The company operates through three segments: Global Strategy & Business Transformation, Oracle Solutions, and SAP Solutions. It offers Hackett Connect, an online searchable repository; best practice accelerators that provide web-based access to best practices, customized software configuration tools, and best practice process flows; advisor inquiry for access to fact-based advice on proven approaches and methods; best practice research that provides insights into the proven approaches; and peer interaction comprising member-led webcasts, annual best practice conferences, annual member forums, membership performance surveys, and client-submitted content, as well as intellectual property as-a-service and Hackett Institute programs.
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