Watershed Asset Management L.L.C. Increases Holdings in The Hackett Group, Inc. (NASDAQ:HCKT)

Watershed Asset Management L.L.C. lifted its position in The Hackett Group, Inc. (NASDAQ:HCKT) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,302 shares of the business services provider’s stock after purchasing an additional 1,297 shares during the quarter. Watershed Asset Management L.L.C.’s holdings in The Hackett Group were worth $280,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of HCKT. Boston Partners raised its position in The Hackett Group by 0.6% during the third quarter. Boston Partners now owns 601,304 shares of the business services provider’s stock valued at $14,035,000 after acquiring an additional 3,666 shares in the last quarter. Wellington Management Group LLP raised its position in The Hackett Group by 15.2% during the third quarter. Wellington Management Group LLP now owns 576,042 shares of the business services provider’s stock valued at $13,589,000 after acquiring an additional 76,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in The Hackett Group by 93.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 254,496 shares of the business services provider’s stock valued at $6,004,000 after acquiring an additional 123,182 shares in the last quarter. Envestnet Asset Management Inc. raised its position in The Hackett Group by 90.7% during the third quarter. Envestnet Asset Management Inc. now owns 227,061 shares of the business services provider’s stock valued at $5,356,000 after acquiring an additional 107,963 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in The Hackett Group by 53.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 178,387 shares of the business services provider’s stock valued at $4,208,000 after acquiring an additional 62,252 shares in the last quarter. 78.12% of the stock is currently owned by hedge funds and other institutional investors.

The Hackett Group Price Performance

Shares of NASDAQ:HCKT traded down $0.03 during trading on Tuesday, reaching $22.47. The stock had a trading volume of 66,322 shares, compared to its average volume of 89,857. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.51 and a current ratio of 1.51. The business has a fifty day moving average price of $23.89 and a 200-day moving average price of $23.13. The stock has a market cap of $619.72 million, a PE ratio of 18.12, a PEG ratio of 1.18 and a beta of 0.84. The Hackett Group, Inc. has a 1-year low of $17.18 and a 1-year high of $26.69.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings results on Tuesday, February 20th. The business services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $71.17 million during the quarter, compared to analyst estimates of $69.65 million. The Hackett Group had a return on equity of 43.58% and a net margin of 11.52%. On average, equities analysts forecast that The Hackett Group, Inc. will post 1.42 earnings per share for the current fiscal year.

The Hackett Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 22nd were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Thursday, March 21st. The Hackett Group’s dividend payout ratio is presently 35.48%.

Analysts Set New Price Targets

HCKT has been the subject of several recent research reports. Craig Hallum upgraded The Hackett Group from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Wednesday, February 21st. Barrington Research restated an “outperform” rating and issued a $28.00 price objective on shares of The Hackett Group in a research report on Wednesday, February 21st. Finally, StockNews.com cut The Hackett Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 27th.

The Hackett Group Company Profile

The Hackett Group, Inc operates as an intellectual property-based executive advisory, strategic consulting, and digital transformation company in the United States, Europe, and internationally. The company operates through three segments: Global Strategy & Business Transformation, Oracle Solutions, and SAP Solutions.