16,686 Shares in The Hackett Group, Inc. (NASDAQ:HCKT) Purchased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury bought a new position in The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in The Hackett Group by 56.2% during the 4th quarter. JPMorgan Chase & Co. now owns 154,492 shares of the business services provider's stock valued at $4,746,000 after acquiring an additional 55,608 shares in the last quarter. Barclays PLC lifted its holdings in The Hackett Group by 202.1% in the third quarter. Barclays PLC now owns 56,350 shares of the business services provider's stock worth $1,481,000 after purchasing an additional 37,695 shares during the period. KLP Kapitalforvaltning AS acquired a new position in The Hackett Group during the 4th quarter valued at about $1,131,000. Raymond James Financial Inc. bought a new stake in shares of The Hackett Group during the 4th quarter worth about $1,056,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of The Hackett Group by 19.2% in the 4th quarter. Russell Investments Group Ltd. now owns 204,540 shares of the business services provider's stock worth $6,283,000 after acquiring an additional 32,893 shares during the period. Institutional investors and hedge funds own 78.12% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on HCKT shares. Barrington Research reissued an "outperform" rating and set a $36.00 target price on shares of The Hackett Group in a report on Tuesday, April 29th. StockNews.com lowered The Hackett Group from a "strong-buy" rating to a "buy" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, The Hackett Group has a consensus rating of "Moderate Buy" and a consensus price target of $32.67.

The Hackett Group Stock Performance

HCKT opened at $26.32 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.18. The firm has a market cap of $727.67 million, a PE ratio of 24.83, a P/E/G ratio of 1.53 and a beta of 0.96. The business has a fifty day simple moving average of $27.67 and a 200-day simple moving average of $29.27. The Hackett Group, Inc. has a fifty-two week low of $20.23 and a fifty-two week high of $34.02.

The Hackett Group (NASDAQ:HCKT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.35 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $75.64 million. As a group, equities analysts predict that The Hackett Group, Inc. will post 1.43 EPS for the current fiscal year.

The Hackett Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were paid a $0.12 dividend. This is an increase from The Hackett Group's previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.82%. The ex-dividend date was Friday, March 21st. The Hackett Group's dividend payout ratio is currently 45.28%.

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.

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