Bank of New York Mellon Corp Trims Holdings in The Hackett Group, Inc. (NASDAQ:HCKT)

Bank of New York Mellon Corp trimmed its position in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 7.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 211,895 shares of the business services provider’s stock after selling 16,668 shares during the quarter. Bank of New York Mellon Corp’s holdings in The Hackett Group were worth $6,509,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in The Hackett Group by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 700,253 shares of the business services provider’s stock valued at $18,399,000 after purchasing an additional 29,699 shares during the last quarter. State Street Corp lifted its stake in The Hackett Group by 4.1% during the 3rd quarter. State Street Corp now owns 641,783 shares of the business services provider’s stock valued at $16,927,000 after acquiring an additional 25,249 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in The Hackett Group by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 266,317 shares of the business services provider’s stock valued at $6,996,000 after acquiring an additional 1,350 shares during the period. Harbor Capital Advisors Inc. lifted its stake in The Hackett Group by 1.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 255,183 shares of the business services provider’s stock valued at $7,839,000 after acquiring an additional 3,694 shares during the period. Finally, Dean Investment Associates LLC lifted its stake in The Hackett Group by 57.2% during the 3rd quarter. Dean Investment Associates LLC now owns 165,647 shares of the business services provider’s stock valued at $4,352,000 after acquiring an additional 60,307 shares during the period. 78.12% of the stock is owned by hedge funds and other institutional investors.

The Hackett Group Trading Up 0.1 %

HCKT stock opened at $28.19 on Monday. The firm has a fifty day moving average price of $30.36 and a 200 day moving average price of $29.00. The Hackett Group, Inc. has a fifty-two week low of $20.23 and a fifty-two week high of $34.02. 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 firm has a market cap of $783.43 million, a PE ratio of 26.59, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03.

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

The Hackett Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.70%. This is an increase from The Hackett Group’s previous quarterly dividend of $0.11. The ex-dividend date is Friday, March 21st. The Hackett Group’s dividend payout ratio (DPR) is 45.28%.

Wall Street Analyst Weigh In

HCKT has been the topic of several recent research reports. Barrington Research increased their price objective on shares of The Hackett Group from $28.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. StockNews.com cut shares of The Hackett Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, The Hackett Group has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

About The Hackett Group

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.