Wellington Management Group LLP bought a new position in shares of The Hackett Group, Inc. (NASDAQ:HCKT) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,928 shares of the business services provider’s stock, valued at approximately $279,000. Wellington Management Group LLP owned 0.07% of The Hackett Group as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Stone Ridge Asset Management LLC increased its holdings in shares of The Hackett Group by 3.1% in the 1st quarter. Stone Ridge Asset Management LLC now owns 29,935 shares of the business services provider’s stock valued at $381,000 after acquiring an additional 900 shares during the period. Bank of Montreal Can boosted its position in The Hackett Group by 42.9% during the fourth quarter. Bank of Montreal Can now owns 3,065 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 920 shares in the last quarter. Swiss National Bank boosted its position in The Hackett Group by 2.5% during the fourth quarter. Swiss National Bank now owns 48,592 shares of the business services provider’s stock valued at $784,000 after purchasing an additional 1,200 shares in the last quarter. Bessemer Group Inc. boosted its position in The Hackett Group by 1.4% during the first quarter. Bessemer Group Inc. now owns 95,974 shares of the business services provider’s stock valued at $1,220,000 after purchasing an additional 1,300 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in The Hackett Group by 3.3% during the first quarter. First Trust Advisors LP now owns 57,964 shares of the business services provider’s stock valued at $916,000 after purchasing an additional 1,848 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on HCKT shares. Zacks Investment Research downgraded The Hackett Group from a “hold” rating to a “sell” rating in a research report on Friday, June 26th. Barrington Research dropped their price objective on The Hackett Group from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. TheStreet downgraded The Hackett Group from a “b-” rating to a “c+” rating in a research report on Wednesday, March 11th. Finally, BidaskClub cut The Hackett Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating and two have given a buy rating to the company. The Hackett Group has an average rating of “Hold” and an average target price of $18.33.
Shares of NASDAQ:HCKT opened at $13.53 on Wednesday. The Hackett Group, Inc. has a 52-week low of $9.50 and a 52-week high of $18.90. The stock has a market cap of $374.85 million, a price-to-earnings ratio of 20.19, a PEG ratio of 2.14 and a beta of 0.70. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $13.60 and a 200-day moving average price of $14.58.
The Hackett Group (NASDAQ:HCKT) last announced its quarterly earnings data on Tuesday, May 5th. The business services provider reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The Hackett Group had a return on equity of 18.83% and a net margin of 7.77%. The firm had revenue of $69.53 million during the quarter, compared to analysts’ expectations of $71.27 million. As a group, equities analysts anticipate that The Hackett Group, Inc. will post 0.43 EPS for the current fiscal year.
The business also recently announced a Semi-Annual dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.095 per share. This represents a yield of 2.8%. The ex-dividend date of this dividend is Monday, June 29th. The Hackett Group’s dividend payout ratio (DPR) is 45.57%.
About The Hackett Group
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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