BlackRock Inc. raised its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,378,270 shares of the business services provider’s stock after acquiring an additional 44,652 shares during the period. BlackRock Inc. owned about 8.07% of The Hackett Group worth $47,921,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Engineers Gate Manager LP bought a new position in The Hackett Group during the 3rd quarter valued at $242,000. Falcon Point Capital LLC bought a new position in The Hackett Group during the 3rd quarter valued at $434,000. Granite Investment Partners LLC bought a new stake in shares of The Hackett Group during the 3rd quarter worth $524,000. Ramsey Quantitative Systems raised its stake in shares of The Hackett Group by 45.6% during the 3rd quarter. Ramsey Quantitative Systems now owns 26,525 shares of the business services provider’s stock worth $534,000 after purchasing an additional 8,306 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of The Hackett Group by 21.1% during the 2nd quarter. First Trust Advisors LP now owns 30,329 shares of the business services provider’s stock worth $487,000 after purchasing an additional 5,281 shares during the period. Institutional investors and hedge funds own 79.76% of the company’s stock.
Shares of The Hackett Group stock opened at $17.65 on Monday. The Hackett Group, Inc. has a 52-week low of $15.03 and a 52-week high of $22.84. The stock has a market capitalization of $497.38 million, a P/E ratio of 23.22, a PEG ratio of 1.18 and a beta of 0.98. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.09.
The Hackett Group (NASDAQ:HCKT) last announced its quarterly earnings data on Tuesday, November 6th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.06). The firm had revenue of $73.84 million during the quarter, compared to the consensus estimate of $73.70 million. The Hackett Group had a net margin of 11.48% and a return on equity of 22.48%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. As a group, sell-side analysts forecast that The Hackett Group, Inc. will post 0.87 EPS for the current year.
The business also recently announced a semiannual dividend, which was paid on Friday, January 4th. Shareholders of record on Friday, December 21st were issued a dividend of $0.17 per share. This represents a yield of 1.7%. The ex-dividend date of this dividend was Thursday, December 20th. This is a positive change from The Hackett Group’s previous semiannual dividend of $0.15. The Hackett Group’s payout ratio is presently 44.74%.
A number of equities research analysts have recently commented on HCKT shares. Barrington Research set a $22.00 target price on The Hackett Group and gave the stock a “buy” rating in a research note on Friday, October 5th. Zacks Investment Research cut The Hackett Group from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. William Blair began coverage on The Hackett Group in a research note on Friday. They issued an “outperform” rating on the stock. ValuEngine cut The Hackett Group from a “buy” rating to a “hold” rating in a research note on Wednesday, December 5th. Finally, BidaskClub upgraded The Hackett Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $21.33.
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The Hackett Group Profile
The Hackett Group, Inc operates as a strategic advisory and technology consulting firm primarily in North America and European countries. Its executive advisory programs include best practice intelligence center, an online searchable repository of best practices, performance metrics, conference presentations, and associated research; best practice accelerators that provide Web based access to best practices, customized software configuration tools, and best practice process flows; advisor inquiry, an inquiry service used by clients for access to fact-based advice on proven approaches and methods; best practice research, a 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.
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