State of Tennessee Department of Treasury Takes $513,000 Position in The Hackett Group, Inc. (NASDAQ:HCKT)

State of Tennessee Department of Treasury bought a new position in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 16,686 shares of the business services provider's stock, valued at approximately $513,000. State of Tennessee Department of Treasury owned about 0.06% of The Hackett Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in The Hackett Group by 353.1% in the fourth quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock worth $29,000 after purchasing an additional 738 shares during the period. Quantbot Technologies LP lifted its position in The Hackett Group by 52.5% during the 4th quarter. Quantbot Technologies LP now owns 4,180 shares of the business services provider's stock worth $128,000 after acquiring an additional 1,439 shares during the period. Longboard Asset Management LP purchased a new position in The Hackett Group during the 4th quarter valued at about $207,000. Arizona State Retirement System acquired a new position in The Hackett Group in the fourth quarter valued at $221,000. Finally, Principal Financial Group Inc. acquired a new position in The Hackett Group in the fourth quarter worth about $248,000. 78.12% of the stock is owned by institutional investors.

The Hackett Group Trading Down 1.1 %

Shares of The Hackett Group stock traded down $0.26 on Friday, hitting $24.40. 45,101 shares of the company's stock traded hands, compared to its average volume of 116,565. The firm's 50-day moving average price is $27.27 and its two-hundred day moving average price is $29.23. The Hackett Group, Inc. has a one year low of $21.12 and a one year high of $34.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market capitalization of $674.59 million, a PE ratio of 23.02, a price-to-earnings-growth ratio of 1.53 and a beta of 0.96.

The Hackett Group (NASDAQ:HCKT - Get Free Report) last released its earnings results on Tuesday, February 18th. The business services provider reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.06). The company had revenue of $77.46 million for the quarter, compared to analysts' expectations of $75.64 million. The Hackett Group had a return on equity of 36.40% and a net margin of 9.44%. On average, research analysts expect that The Hackett Group, Inc. will post 1.43 EPS for the current fiscal year.

The Hackett Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, June 20th. The Hackett Group's payout ratio is currently 45.28%.

Analyst Upgrades and Downgrades

HCKT has been the topic of several recent analyst reports. StockNews.com downgraded The Hackett Group from a "strong-buy" rating to a "buy" rating in a research report on Thursday, April 24th. Barrington Research reduced their target price on shares of The Hackett Group from $36.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $31.33.

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.