The Hackett Group, Inc. (HCKT) Position Lessened by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its stake in The Hackett Group, Inc. (NASDAQ:HCKT) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 850,144 shares of the business services provider’s stock after selling 32,300 shares during the quarter. Renaissance Technologies LLC owned approximately 2.91% of The Hackett Group worth $13,177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of HCKT. SG Americas Securities LLC purchased a new position in The Hackett Group during the 2nd quarter valued at about $116,000. Victory Capital Management Inc. grew its stake in shares of The Hackett Group by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 7,522 shares of the business services provider’s stock valued at $117,000 after buying an additional 1,127 shares in the last quarter. Laurion Capital Management LP bought a new stake in shares of The Hackett Group in the 2nd quarter valued at approximately $208,000. Cigna Investments Inc. New bought a new stake in shares of The Hackett Group in the 2nd quarter valued at approximately $262,000. Finally, American International Group Inc. grew its stake in shares of The Hackett Group by 7.1% in the 1st quarter. American International Group Inc. now owns 13,827 shares of the business services provider’s stock valued at $269,000 after buying an additional 918 shares in the last quarter. 75.83% of the stock is currently owned by hedge funds and other institutional investors.

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Several equities research analysts recently commented on HCKT shares. Zacks Investment Research raised The Hackett Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 18th. BidaskClub upgraded The Hackett Group from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The Hackett Group presently has a consensus rating of “Hold” and a consensus price target of $19.00.

The Hackett Group, Inc. (NASDAQ:HCKT) opened at 14.98 on Friday. The stock’s 50 day moving average price is $14.89 and its 200-day moving average price is $15.71. The Hackett Group, Inc. has a one year low of $13.24 and a one year high of $20.69. The firm has a market capitalization of $432.46 million, a price-to-earnings ratio of 19.95 and a beta of 0.87.

The Hackett Group (NASDAQ:HCKT) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The Hackett Group had a net margin of 8.42% and a return on equity of 27.74%. The company had revenue of $73.60 million for the quarter, compared to the consensus estimate of $74.36 million. During the same period last year, the business posted $0.24 earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts expect that The Hackett Group, Inc. will post $0.97 EPS for the current fiscal year.

The Hackett Group announced that its board has initiated a stock buyback program on Tuesday, August 8th that allows the company to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the business services provider to purchase up to 17% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The Hackett Group Company Profile

The Hackett Group, Inc is an advisory and technology consulting company. The Company’s services include business transformation, enterprise performance management, working capital management and global business services. The Company is engaged in providing business and technology consulting services.

Institutional Ownership by Quarter for The Hackett Group (NASDAQ:HCKT)

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