Los Angeles Capital Management LLC Purchases 41,121 Shares of The Hackett Group, Inc. (NASDAQ:HCKT)

Los Angeles Capital Management LLC boosted its position in The Hackett Group, Inc. (NASDAQ:HCKT) by 105.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 80,102 shares of the business services provider’s stock after acquiring an additional 41,121 shares during the period. Los Angeles Capital Management LLC owned 0.29% of The Hackett Group worth $1,824,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of The Hackett Group in the third quarter worth about $111,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in The Hackett Group by 96.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,785 shares of the business services provider’s stock worth $136,000 after buying an additional 2,845 shares during the period. Mackenzie Financial Corp grew its position in shares of The Hackett Group by 38.4% in the 3rd quarter. Mackenzie Financial Corp now owns 13,089 shares of the business services provider’s stock worth $310,000 after buying an additional 3,630 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of 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 buying an additional 62,252 shares during the period. Finally, Watershed Asset Management L.L.C. bought a new position in shares of The Hackett Group during the third quarter valued at approximately $260,000. Hedge funds and other institutional investors own 78.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HCKT. Craig Hallum upgraded shares of The Hackett Group from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Wednesday, February 21st. StockNews.com cut shares of The Hackett Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 27th. Finally, Barrington Research reiterated an “outperform” rating and set a $28.00 price target on shares of The Hackett Group in a research report on Wednesday, February 21st.

The Hackett Group Price Performance

HCKT stock opened at $22.20 on Wednesday. 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 firm has a 50 day moving average price of $23.48 and a 200-day moving average price of $23.05. The Hackett Group, Inc. has a 52-week low of $17.18 and a 52-week high of $26.69. The firm has a market capitalization of $612.28 million, a price-to-earnings ratio of 17.90, a PEG ratio of 1.15 and a beta of 0.87.

The Hackett Group (NASDAQ:HCKT) last released its quarterly earnings data on Tuesday, February 20th. The business services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $71.17 million during the quarter, compared to the consensus estimate of $69.65 million. The Hackett Group had a return on equity of 43.58% and a net margin of 11.52%. Equities research analysts forecast that The Hackett Group, Inc. will post 1.42 EPS for the current fiscal year.

The Hackett Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 22nd were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.44 annualized dividend and a dividend yield of 1.98%. The Hackett Group’s payout ratio is 35.48%.

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.