LSV Asset Management Grows Stake in The Hackett Group, Inc. (NASDAQ:HCKT)

LSV Asset Management increased its holdings in The Hackett Group, Inc. (NASDAQ:HCKT) by 23.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,000 shares of the business services provider’s stock after purchasing an additional 34,200 shares during the period. LSV Asset Management’s holdings in The Hackett Group were worth $4,030,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in The Hackett Group during the third quarter valued at $111,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of The Hackett Group by 96.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,785 shares of the business services provider’s stock worth $136,000 after purchasing an additional 2,845 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of The Hackett Group by 38.4% in the third 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its stake 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 buying an additional 62,252 shares during the last quarter. Finally, Watershed Asset Management L.L.C. purchased a new position in The Hackett Group during the 3rd quarter valued at approximately $260,000. 78.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Craig Hallum upgraded shares of The Hackett Group from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, February 21st. Barrington Research decreased their target price on The Hackett Group from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, StockNews.com cut shares of The Hackett Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 27th.

The Hackett Group Stock Down 2.9 %

Shares of NASDAQ:HCKT opened at $21.56 on Thursday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $23.42 and its 200 day moving average is $23.04. The stock has a market cap of $594.73 million, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 1.15 and a beta of 0.87. The Hackett Group, Inc. has a 52-week low of $17.18 and a 52-week high of $26.69.

The Hackett Group (NASDAQ:HCKT) last posted 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 Hackett Group had a return on equity of 43.58% and a net margin of 11.52%. The firm had revenue of $71.17 million for the quarter, compared to the consensus estimate of $69.65 million. Sell-side analysts predict that The Hackett Group, Inc. will post 1.42 EPS for the current year.

The Hackett Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 22nd were given a $0.11 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.44 annualized dividend and a dividend yield of 2.04%. The Hackett Group’s payout ratio is presently 35.48%.

The Hackett Group 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.