Envestnet Asset Management Inc. Grows Holdings in The Hackett Group, Inc. (NASDAQ:HCKT)

Envestnet Asset Management Inc. boosted its holdings in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,844 shares of the business services provider’s stock after acquiring an additional 952 shares during the period. Envestnet Asset Management Inc. owned 0.84% of The Hackett Group worth $7,153,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Barclays PLC boosted its holdings in The Hackett Group by 202.1% in the third quarter. Barclays PLC now owns 56,350 shares of the business services provider’s stock worth $1,481,000 after purchasing an additional 37,695 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of The Hackett Group by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 700,253 shares of the business services provider’s stock worth $18,399,000 after buying an additional 29,699 shares during the last quarter. State Street Corp grew its holdings in shares of The Hackett Group by 4.1% in the third quarter. State Street Corp now owns 641,783 shares of the business services provider’s stock worth $16,927,000 after acquiring an additional 25,249 shares during the period. JPMorgan Chase & Co. increased its position in The Hackett Group by 96.9% during the third quarter. JPMorgan Chase & Co. now owns 98,884 shares of the business services provider’s stock valued at $2,598,000 after acquiring an additional 48,661 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in The Hackett Group during the fourth quarter valued at $248,000. Institutional investors own 78.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HCKT. Barrington Research restated an “outperform” rating and set a $36.00 target price on shares of The Hackett Group in a research report on Friday, April 11th. StockNews.com downgraded shares of The Hackett Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

The Hackett Group Stock Performance

Shares of The Hackett Group stock opened at $25.86 on Monday. The company has a market capitalization of $714.95 million, a PE ratio of 24.40, a price-to-earnings-growth ratio of 1.53 and a beta of 0.98. The Hackett Group, Inc. has a 52 week low of $20.23 and a 52 week high of $34.02. The stock’s fifty day moving average is $28.77 and its two-hundred day moving average is $29.30. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.18.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.06). The business had revenue of $77.46 million during the quarter, compared to the consensus estimate of $75.64 million. The Hackett Group had a return on equity of 36.40% and a net margin of 9.44%. As a group, analysts expect that The Hackett Group, Inc. will post 1.43 earnings per share for the current year.

The Hackett Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were issued a $0.12 dividend. This is a boost from The Hackett Group’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Friday, March 21st. The Hackett Group’s dividend payout ratio is presently 45.28%.

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.