Raymond James & Associates Boosts Holdings in The Hackett Group, Inc. (NASDAQ:HCKT)

Raymond James & Associates grew its position in The Hackett Group, Inc. (NASDAQ:HCKT) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,349 shares of the business services provider’s stock after acquiring an additional 1,787 shares during the quarter. Raymond James & Associates’ holdings in The Hackett Group were worth $554,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in The Hackett Group by 93.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 254,496 shares of the business services provider’s stock worth $6,004,000 after purchasing an additional 123,182 shares during the period. Envestnet Asset Management Inc. boosted its holdings in The Hackett Group by 90.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 227,061 shares of the business services provider’s stock valued at $5,356,000 after acquiring an additional 107,963 shares during the period. Linden Thomas Advisory Services LLC grew its position in The Hackett Group by 1.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 75,840 shares of the business services provider’s stock valued at $1,789,000 after acquiring an additional 1,255 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in The Hackett Group by 53.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 178,387 shares of the business services provider’s stock worth $4,208,000 after purchasing an additional 62,252 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of The Hackett Group by 15.2% during the third quarter. Wellington Management Group LLP now owns 576,042 shares of the business services provider’s stock worth $13,589,000 after purchasing an additional 76,000 shares during the last quarter. Institutional investors own 78.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Craig Hallum upgraded shares of The Hackett Group from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Wednesday, February 21st. StockNews.com cut The Hackett Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 27th. Finally, Barrington Research restated an “outperform” rating and set a $28.00 price target on shares of The Hackett Group in a research note on Wednesday, February 21st.

The Hackett Group Price Performance

Shares of HCKT opened at $21.88 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.51 and a current ratio of 1.51. The company has a 50 day moving average price of $23.83 and a 200-day moving average price of $23.12. The Hackett Group, Inc. has a fifty-two week low of $17.18 and a fifty-two week high of $26.69. The stock has a market capitalization of $603.45 million, a PE ratio of 17.65, a PEG ratio of 1.17 and a beta of 0.84.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings data on Tuesday, February 20th. The business services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The company had revenue of $71.17 million for the quarter, compared to the consensus estimate of $69.65 million. The Hackett Group had a net margin of 11.52% and a return on equity of 43.58%. Equities analysts predict that The Hackett Group, Inc. will post 1.42 earnings per share for the current fiscal year.

The Hackett Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 22nd were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Thursday, March 21st. The Hackett Group’s dividend payout ratio (DPR) is presently 35.48%.

About The Hackett Group

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.