Boston Partners boosted its stake in The Hackett Group, Inc. (NASDAQ:HCKT) by 192.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 545,482 shares of the business services provider’s stock after buying an additional 359,182 shares during the quarter. Boston Partners owned approximately 1.89% of The Hackett Group worth $8,286,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. IndexIQ Advisors LLC raised its position in The Hackett Group by 83.2% in the 3rd quarter. IndexIQ Advisors LLC now owns 44,472 shares of the business services provider’s stock valued at $676,000 after buying an additional 20,193 shares during the last quarter. First Trust Advisors LP purchased a new stake in The Hackett Group in the 3rd quarter valued at $315,000. Eqis Capital Management Inc. raised its position in The Hackett Group by 23.6% in the 3rd quarter. Eqis Capital Management Inc. now owns 39,327 shares of the business services provider’s stock valued at $597,000 after buying an additional 7,516 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in The Hackett Group in the 2nd quarter valued at $327,000. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in The Hackett Group in the 2nd quarter valued at $124,000. 76.42% of the stock is owned by institutional investors and hedge funds.
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A number of research firms recently commented on HCKT. Roth Capital raised The Hackett Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $16.00 to $20.00 in a research report on Thursday, November 9th. Zacks Investment Research raised The Hackett Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $17.00 target price on shares of The Hackett Group in a research report on Friday, November 10th. Finally, BidaskClub raised The Hackett Group from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $18.33.
Shares of The Hackett Group, Inc. (NASDAQ:HCKT) opened at $15.38 on Thursday. The Hackett Group, Inc. has a 12-month low of $13.24 and a 12-month high of $20.69. The stock has a market capitalization of $441.31, a price-to-earnings ratio of 20.53, a PEG ratio of 1.28 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.68 and a current ratio of 1.68.
The Hackett Group (NASDAQ:HCKT) last announced its earnings results on Tuesday, November 7th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. The Hackett Group had a return on equity of 26.10% and a net margin of 8.42%. The firm had revenue of $71.50 million during the quarter, compared to analyst estimates of $70.66 million. During the same period last year, the firm posted $0.25 EPS. The business’s revenue was down 3.5% compared to the same quarter last year. sell-side analysts predict that The Hackett Group, Inc. will post 0.8 earnings per share for the current year.
The firm also recently announced a semiannual dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 22nd will be given a dividend of $0.15 per share. This represents a dividend yield of 2.02%. The ex-dividend date is Thursday, December 21st. The Hackett Group’s dividend payout ratio is presently 40.00%.
The Hackett Group announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 8th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the business services provider to purchase up to 17% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The Hackett Group 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.
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