IndexIQ Advisors LLC lifted its holdings in The Hackett Group, Inc. (NASDAQ:HCKT) by 83.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,472 shares of the business services provider’s stock after acquiring an additional 20,193 shares during the quarter. IndexIQ Advisors LLC owned approximately 0.15% of The Hackett Group worth $676,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of The Hackett Group in the 2nd quarter worth approximately $116,000. Victory Capital Management Inc. boosted its holdings 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 worth $117,000 after acquiring an additional 1,127 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in shares of The Hackett Group in the 2nd quarter worth approximately $124,000. Frontier Wealth Management LLC acquired a new position in shares of The Hackett Group in the 2nd quarter worth approximately $171,000. Finally, Voya Investment Management LLC acquired a new position in shares of The Hackett Group in the 2nd quarter worth approximately $175,000. 76.42% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently weighed in on the stock. Roth Capital upgraded shares of The Hackett Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $16.00 to $20.00 in a research report on Thursday, November 9th. Zacks Investment Research upgraded shares of The Hackett Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 18th. SunTrust Banks, Inc. restated a “buy” rating and issued a $17.00 price objective on shares of The Hackett Group in a research report on Friday. Finally, BidaskClub upgraded shares of The Hackett Group from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The Hackett Group presently has a consensus rating of “Hold” and a consensus target price of $18.33.
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Shares of The Hackett Group, Inc. (HCKT) opened at $15.26 on Tuesday. The company has a market cap of $438.15, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. The Hackett Group, Inc. has a 1 year low of $13.24 and a 1 year high of $20.69. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.22.
The Hackett Group (NASDAQ:HCKT) last issued its earnings results on Tuesday, November 7th. The business services provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.25 by $0.01. The company had revenue of $71.50 million during the quarter, compared to analysts’ expectations of $70.66 million. The Hackett Group had a net margin of 8.42% and a return on equity of 26.10%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. equities research analysts forecast that The Hackett Group, Inc. will post 0.8 earnings per share for the current fiscal year.
The Hackett Group declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 8th that permits the company to repurchase $5.00 million in shares. This repurchase authorization permits the business services provider to buy up to 17% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
The company also recently declared a semiannual dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 22nd will be issued a $0.15 dividend. This represents a dividend yield of 2.02%. The ex-dividend date is Thursday, December 21st. The Hackett Group’s dividend payout ratio (DPR) is 40.00%.
About The Hackett Group
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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