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

Hennion & Walsh Asset Management Inc. increased its stake in The Hackett Group, Inc. (NASDAQ:HCKT) by 15.3% in the 1st quarter, HoldingsChannel reports. The fund owned 9,684 shares of the business services provider’s stock after acquiring an additional 1,285 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in The Hackett Group were worth $283,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of The Hackett Group by 48.9% during the first quarter. Versant Capital Management Inc now owns 1,410 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 463 shares in the last quarter. Quantbot Technologies LP raised its stake in The Hackett Group by 52.5% in the fourth quarter. Quantbot Technologies LP now owns 4,180 shares of the business services provider’s stock worth $128,000 after buying an additional 1,439 shares in the last quarter. ProShare Advisors LLC bought a new position in The Hackett Group in the fourth quarter worth approximately $219,000. Arizona State Retirement System bought a new position in The Hackett Group in the fourth quarter worth approximately $221,000. Finally, Principal Financial Group Inc. bought a new position in The Hackett Group in the fourth quarter worth approximately $248,000. Institutional investors own 78.12% of the company’s stock.

The Hackett Group Price Performance

NASDAQ HCKT opened at $24.91 on Tuesday. The firm’s fifty day simple moving average is $25.57 and its two-hundred day simple moving average is $28.76. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.18. The Hackett Group, Inc. has a 12-month low of $21.12 and a 12-month high of $34.02. The firm has a market capitalization of $688.89 million, a P/E ratio of 23.50, a P/E/G ratio of 1.53 and a beta of 0.95.

The Hackett Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Friday, June 20th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Friday, June 20th. The Hackett Group’s dividend payout ratio is currently 56.47%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HCKT. Barrington Research reduced their price objective on shares of The Hackett Group from $36.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of The Hackett Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, The Hackett Group has a consensus rating of “Moderate Buy” and a consensus target price 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.