Nuveen LLC Buys New Stake in The Hackett Group, Inc. $HCKT

Key Points

• Nuveen LLC has acquired 110,934 shares of The Hackett Group, Inc., valued at approximately $3,241,000, representing about 0.40% ownership of the company.
• An analyst downgrade occurred, with Barrington Research lowering its target price from $32.00 to $27.00, while Wall Street Zen shifted the rating from "buy" to "hold."
• The Hackett Group announced a quarterly dividend of $0.12, with an annual yield of 2.3%, reflecting a dividend payout ratio of 80.00%.

Nuveen LLC acquired a new stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 110,934 shares of the business services provider's stock, valued at approximately $3,241,000. Nuveen LLC owned 0.40% of The Hackett Group as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in The Hackett Group by 5.2% during the fourth quarter. Wellington Management Group LLP now owns 393,291 shares of the business services provider's stock valued at $12,082,000 after buying an additional 19,300 shares during the period. Northern Trust Corp increased its holdings in The Hackett Group by 7.1% during the fourth quarter. Northern Trust Corp now owns 284,120 shares of the business services provider's stock valued at $8,728,000 after buying an additional 18,746 shares during the period. Harbor Capital Advisors Inc. increased its holdings in The Hackett Group by 0.8% during the first quarter. Harbor Capital Advisors Inc. now owns 257,170 shares of the business services provider's stock valued at $7,515,000 after buying an additional 1,987 shares during the period. Envestnet Asset Management Inc. increased its holdings in The Hackett Group by 0.7% during the first quarter. Envestnet Asset Management Inc. now owns 234,470 shares of the business services provider's stock valued at $6,851,000 after buying an additional 1,626 shares during the period. Finally, Aptus Capital Advisors LLC boosted its stake in The Hackett Group by 22.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 218,294 shares of the business services provider's stock valued at $6,706,000 after acquiring an additional 39,995 shares in the last quarter. 78.12% of the stock is owned by hedge funds and other institutional investors.

The Hackett Group Stock Performance

Shares of NASDAQ:HCKT traded up $0.17 on Friday, hitting $20.82. 206,301 shares of the company were exchanged, compared to its average volume of 368,136. The Hackett Group, Inc. has a 1-year low of $19.39 and a 1-year high of $34.02. The stock's 50 day moving average price is $22.98 and its 200 day moving average price is $25.52. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $572.76 million, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 1.43 and a beta of 1.03.

The Hackett Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, September 19th. The Hackett Group's payout ratio is presently 80.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HCKT shares. Barrington Research lowered their target price on shares of The Hackett Group from $32.00 to $27.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Wall Street Zen downgraded shares of The Hackett Group from a "buy" rating to a "hold" rating in a research note on Monday, July 21st. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, The Hackett Group has a consensus rating of "Buy" and a consensus target price of $29.67.

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.