Punch & Associates Investment Management Inc. acquired a new position in shares of The Hackett Group, Inc. (NASDAQ:HCKT – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 474,707 shares of the business services provider’s stock, valued at approximately $5,113,000.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of The Hackett Group in the second quarter valued at $18,957,000. Bank of America Corp DE bought a new stake in The Hackett Group in the 2nd quarter valued at $7,681,000. Millennium Management LLC raised its stake in shares of The Hackett Group by 122.9% in the 3rd quarter. Millennium Management LLC now owns 807,457 shares of the business services provider’s stock valued at $15,350,000 after buying an additional 445,267 shares in the last quarter. UBS Group AG raised its stake in shares of The Hackett Group by 207.4% in the 4th quarter. UBS Group AG now owns 411,992 shares of the business services provider’s stock valued at $8,087,000 after buying an additional 277,987 shares in the last quarter. Finally, Weber Capital Management LLC ADV bought a new position in shares of The Hackett Group during the 2nd quarter worth about $2,430,391,000. 78.12% of the stock is currently owned by institutional investors.
The Hackett Group Price Performance
NASDAQ:HCKT opened at $10.99 on Thursday. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.19. The firm has a market cap of $273.43 million, a PE ratio of 16.91, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92. The Hackett Group, Inc. has a 12 month low of $9.15 and a 12 month high of $21.33. The company’s 50-day moving average price is $10.65 and its two-hundred day moving average price is $11.94.
The Hackett Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 18th will be given a $0.12 dividend. The ex-dividend date is Friday, September 18th. This represents a $0.48 annualized dividend and a yield of 4.4%. The Hackett Group’s payout ratio is presently 73.85%.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on HCKT. Barrington Research lowered their target price on shares of The Hackett Group from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Wall Street Zen downgraded The Hackett Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research lowered The Hackett Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Roth Capital set a $17.00 target price on The Hackett Group in a report on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of The Hackett Group in a research report on Monday, July 6th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $16.50.
Check Out Our Latest Report on The Hackett Group
The Hackett Group Company Profile
The Hackett Group is a global strategic advisory firm specializing in business transformation, benchmarking and research. Leveraging a proprietary data repository and the Hackett Methodology®, the company helps organizations optimize performance across enterprise functions. Its advisory services span digital transformation, process optimization and operational excellence, enabling clients to identify best practices, streamline workflows and achieve sustainable cost savings.
Through detailed benchmarking studies and industry research, The Hackett Group delivers actionable insights into finance, procurement, human resources, information technology and supply chain management.
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