Russell Investments Group Ltd. boosted its position in The Hackett Group, Inc. (NASDAQ:HCKT) by 42.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 417,859 shares of the business services provider’s stock after purchasing an additional 124,559 shares during the period. Russell Investments Group Ltd.’s holdings in The Hackett Group were worth $8,420,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in The Hackett Group by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,721,725 shares of the business services provider’s stock worth $27,668,000 after buying an additional 6,464 shares in the last quarter. Renaissance Technologies LLC lifted its position in The Hackett Group by 25.7% in the second quarter. Renaissance Technologies LLC now owns 1,051,044 shares of the business services provider’s stock valued at $16,890,000 after purchasing an additional 214,900 shares during the last quarter. BlackRock Inc. lifted its position in The Hackett Group by 3.8% in the second quarter. BlackRock Inc. now owns 2,333,618 shares of the business services provider’s stock valued at $37,500,000 after purchasing an additional 85,858 shares during the last quarter. LSV Asset Management lifted its position in The Hackett Group by 7.1% in the second quarter. LSV Asset Management now owns 757,942 shares of the business services provider’s stock valued at $12,180,000 after purchasing an additional 50,267 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in The Hackett Group by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 296,053 shares of the business services provider’s stock valued at $4,757,000 after purchasing an additional 4,344 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.
Shares of HCKT stock opened at $18.32 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.09. The Hackett Group, Inc. has a fifty-two week low of $15.03 and a fifty-two week high of $22.84. The company has a market capitalization of $540.77 million, a price-to-earnings ratio of 22.62, a P/E/G ratio of 1.37 and a beta of 0.92.
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 for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.06). The Hackett Group had a net margin of 11.48% and a return on equity of 22.48%. The company had revenue of $73.84 million during the quarter, compared to the consensus estimate of $73.70 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts predict that The Hackett Group, Inc. will post 0.89 EPS for the current year.
The business also recently disclosed a semiannual dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, December 21st will be given a $0.17 dividend. The ex-dividend date is Thursday, December 20th. This represents a yield of 1.7%. This is an increase from The Hackett Group’s previous semiannual dividend of $0.15. The Hackett Group’s payout ratio is presently 44.74%.
Several analysts have weighed in on HCKT shares. BidaskClub upgraded The Hackett Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. Barrington Research set a $22.00 price objective on The Hackett Group and gave the company a “buy” rating in a research report on Monday, August 6th. SunTrust Banks reiterated a “buy” rating and issued a $23.00 price objective on shares of The Hackett Group in a research report on Thursday, August 9th. ValuEngine upgraded The Hackett Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 9th. Finally, Zacks Investment Research downgraded The Hackett Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. One analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. The Hackett Group currently has an average rating of “Buy” and an average target price of $21.33.
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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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