124,865 Shares in The Hackett Group, Inc. $HCKT Acquired by Lazard Asset Management LLC

Key Points

• Lazard Asset Management acquired 124,865 shares of The Hackett Group in the first quarter, worth approximately $1.62 million and representing a 0.50% stake. Institutional investors collectively own 78.12% of the company.
• The Hackett Group’s stock recently traded at $11.31, up 5.5%, but the company reported slightly weaker-than-expected quarterly results, with $0.34 in EPS versus $0.35 expected and revenue of $68.8 million versus $71.23 million forecast.
• Analyst sentiment remains mixed, with ratings ranging from buy to sell. The consensus rating is Hold, with an average price target of $16.50 compared with the current share price.

Lazard Asset Management LLC acquired a new stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 124,865 shares of the business services provider's stock, valued at approximately $1,624,000. Lazard Asset Management LLC owned 0.50% of The Hackett Group at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in HCKT. Punch & Associates Investment Management Inc. lifted its stake in The Hackett Group by 4.4% in the first quarter. Punch & Associates Investment Management Inc. now owns 445,800 shares of the business services provider's stock valued at $5,800,000 after buying an additional 18,747 shares during the last quarter. Aristides Capital LLC grew its position in shares of The Hackett Group by 14.5% during the first quarter. Aristides Capital LLC now owns 197,285 shares of the business services provider's stock worth $2,567,000 after acquiring an additional 24,912 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of The Hackett Group during the first quarter worth about $158,000. State of Wyoming increased its holdings in shares of The Hackett Group by 42.7% in the 1st quarter. State of Wyoming now owns 20,945 shares of the business services provider's stock worth $272,000 after acquiring an additional 6,270 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in The Hackett Group by 138.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,554 shares of the business services provider's stock valued at $46,000 after purchasing an additional 2,062 shares during the last quarter. 78.12% of the stock is currently owned by institutional investors.

The Hackett Group Trading Up 5.5%

The Hackett Group stock opened at $11.31 on Tuesday. The firm has a 50 day simple moving average of $10.66 and a 200-day simple moving average of $12.89. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $284.90 million, a PE ratio of 21.34, a price-to-earnings-growth ratio of 0.87 and a beta of 0.92. The Hackett Group, Inc. has a 12-month low of $9.15 and a 12-month high of $23.72.

The Hackett Group (NASDAQ:HCKT - Get Free Report) last announced its earnings results on Tuesday, May 5th. The business services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $68.80 million for the quarter, compared to the consensus estimate of $71.23 million. The Hackett Group had a return on equity of 26.70% and a net margin of 4.75%. As a group, equities research analysts expect that The Hackett Group, Inc. will post 1.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on HCKT shares. Weiss Ratings reissued a "sell (d+)" rating on shares of The Hackett Group in a research note on Monday, July 6th. Zacks Research raised The Hackett Group from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Roth Capital set a $17.00 price objective on The Hackett Group in a research report on Wednesday, May 6th. Barrington Research decreased their price objective on The Hackett Group from $17.00 to $16.00 and set an "outperform" rating for the company in a report on Wednesday, May 6th. Finally, Wall Street Zen cut The Hackett Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $16.50.

The Hackett Group Company Profile

The Hackett Group is a global strategic advisory firm specializing in business transformation, benchmarking and research. Leveraging a proprietary data repository and the Hackett Methodology®, the company helps organizations optimize performance across enterprise functions. Its advisory services span digital transformation, process optimization and operational excellence, enabling clients to identify best practices, streamline workflows and achieve sustainable cost savings.

Through detailed benchmarking studies and industry research, The Hackett Group delivers actionable insights into finance, procurement, human resources, information technology and supply chain management.

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