Envestnet Asset Management Inc. Has $6.85 Million Stake in The Hackett Group, Inc. (NASDAQ:HCKT)

Envestnet Asset Management Inc. grew its position in The Hackett Group, Inc. (NASDAQ:HCKT) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 234,470 shares of the business services provider’s stock after purchasing an additional 1,626 shares during the quarter. Envestnet Asset Management Inc.’s holdings in The Hackett Group were worth $6,851,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of The Hackett Group by 56.2% in the 4th quarter. JPMorgan Chase & Co. now owns 154,492 shares of the business services provider’s stock worth $4,746,000 after purchasing an additional 55,608 shares in the last quarter. Aptus Capital Advisors LLC raised its position in The Hackett Group by 22.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 218,294 shares of the business services provider’s stock worth $6,706,000 after purchasing an additional 39,995 shares during the period. Millennium Management LLC raised its position in The Hackett Group by 269.6% in the 4th quarter. Millennium Management LLC now owns 53,689 shares of the business services provider’s stock worth $1,649,000 after purchasing an additional 39,163 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of The Hackett Group during the fourth quarter worth approximately $1,131,000. Finally, Raymond James Financial Inc. purchased a new position in The Hackett Group during the fourth quarter valued at approximately $1,056,000. Institutional investors and hedge funds own 78.12% of the company’s stock.

Analyst Ratings Changes

HCKT has been the subject of a number of research reports. Wall Street Zen downgraded shares of The Hackett Group from a “buy” rating to a “hold” rating in a research report on Monday. Barrington Research restated an “outperform” rating and set a $32.00 target price on shares of The Hackett Group in a research report on Thursday, July 17th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.33.

The Hackett Group Stock Performance

NASDAQ:HCKT opened at $23.33 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.16. The company has a market cap of $645.31 million, a P/E ratio of 27.45, a P/E/G ratio of 1.36 and a beta of 0.95. The Hackett Group, Inc. has a fifty-two week low of $21.44 and a fifty-two week high of $34.02. The firm’s 50 day moving average is $24.85 and its two-hundred day moving average is $27.41.

The Hackett Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Friday, June 20th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Friday, June 20th. The Hackett Group’s payout ratio is 56.47%.

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.