Price T Rowe Associates Inc. MD Sells 3,450 Shares of The Hackett Group, Inc. (NASDAQ:HCKT)

Price T Rowe Associates Inc. MD reduced its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,096 shares of the business services provider’s stock after selling 3,450 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.12% of The Hackett Group worth $1,017,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HCKT. Stifel Financial Corp increased its position in shares of The Hackett Group by 3.5% during the 4th quarter. Stifel Financial Corp now owns 23,789 shares of the business services provider’s stock valued at $731,000 after purchasing an additional 800 shares during the last quarter. State of Tennessee Department of Treasury purchased a new stake in shares of The Hackett Group in the fourth quarter valued at $513,000. Jump Financial LLC bought a new stake in shares of The Hackett Group in the 4th quarter worth about $273,000. Raymond James Financial Inc. purchased a new position in shares of The Hackett Group during the 4th quarter worth about $1,056,000. Finally, Invesco Ltd. grew its holdings in The Hackett Group by 6.4% during the 4th quarter. Invesco Ltd. now owns 50,414 shares of the business services provider’s stock valued at $1,549,000 after purchasing an additional 3,043 shares during the last quarter. 78.12% of the stock is currently owned by hedge funds and other institutional investors.

The Hackett Group Stock Performance

The Hackett Group stock opened at $24.78 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.51 and a current ratio of 1.51. The company has a market capitalization of $685.09 million, a PE ratio of 23.38, a P/E/G ratio of 1.53 and a beta of 0.96. The company has a 50 day moving average price of $27.18 and a 200-day moving average price of $29.26. The Hackett Group, Inc. has a fifty-two week low of $21.12 and a fifty-two week high of $34.02.

The Hackett Group (NASDAQ:HCKT) last issued its earnings results on Tuesday, February 18th. The business services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.06). The Hackett Group had a net margin of 9.44% and a return on equity of 36.40%. The firm had revenue of $77.46 million for the quarter, compared to the consensus estimate of $75.64 million. As a group, equities analysts forecast that The Hackett Group, Inc. will post 1.43 earnings per share for the current year.

The Hackett Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Friday, June 20th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Friday, June 20th. The Hackett Group’s dividend payout ratio (DPR) is 45.28%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HCKT. Barrington Research dropped their target price on The Hackett Group from $36.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday. StockNews.com cut The Hackett Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.33.

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.