Allspring Global Investments Holdings LLC lessened its stake in The Hackett Group, Inc. (NASDAQ:HCKT – Free Report) by 6.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,135 shares of the business services provider’s stock after selling 8,516 shares during the period. Allspring Global Investments Holdings LLC owned 0.43% of The Hackett Group worth $2,596,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its position in 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. Martingale Asset Management L P increased its position in The Hackett Group by 0.8% during the 1st quarter. Martingale Asset Management L P now owns 85,374 shares of the business services provider’s stock worth $1,578,000 after purchasing an additional 700 shares during the period. California State Teachers Retirement System increased its position in 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. Advisor Group Holdings Inc. increased its position in The Hackett Group by 22.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 4,310 shares of the business services provider’s stock worth $99,000 after purchasing an additional 790 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in The Hackett Group by 3.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 33,641 shares of the business services provider’s stock worth $638,000 after purchasing an additional 1,079 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 topic of several recent analyst reports. Barrington Research boosted their target price on The Hackett Group from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. StockNews.com assumed coverage on The Hackett Group in a research note on Thursday, October 5th. They set a “buy” rating on the stock.
The Hackett Group Price Performance
Shares of NASDAQ:HCKT opened at $23.49 on Monday. The business’s 50 day simple moving average is $23.38 and its 200-day simple moving average is $21.95. The firm has a market capitalization of $639.40 million, a price-to-earnings ratio of 18.79, a price-to-earnings-growth ratio of 1.33 and a beta of 0.88. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.64 and a quick ratio of 1.64. The Hackett Group, Inc. has a 12 month low of $17.10 and a 12 month high of $24.82.
The Hackett Group (NASDAQ:HCKT – Get Free Report) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $75.64 million during the quarter, compared to analysts’ expectations of $72.90 million. As a group, equities analysts forecast that The Hackett Group, Inc. will post 1.26 earnings per share for the current fiscal year.
The Hackett Group 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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