713,180 Shares in The Hackett Group, Inc. $HCKT Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 713,180 shares of The Hackett Group in the second quarter, valued at about $7.68 million and representing approximately 2.87% of the company. Institutional investors collectively own 78.12% of HCKT.
• The Hackett Group reported quarterly EPS of $0.34, matching analyst expectations, while revenue of $69.33 million exceeded estimates. The company guided for third-quarter EPS of $0.37–$0.39.
• HCKT shares opened at $10.03, down from recent moving averages, while analysts maintain a consensus “Reduce” rating and a $16.50 price target. The company also declared a quarterly dividend of $0.12 per share, implying a 4.8% annualized yield.

Bank of America Corp DE bought a new position in The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 713,180 shares of the business services provider's stock, valued at approximately $7,681,000. Bank of America Corp DE owned approximately 2.87% of The Hackett Group as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWC Advisors LLC. boosted its holdings in shares of The Hackett Group by 5.1% during the 1st quarter. CWC Advisors LLC. now owns 16,216 shares of the business services provider's stock valued at $211,000 after buying an additional 794 shares in the last quarter. Values First Advisors Inc. boosted its stake in The Hackett Group by 2.8% during the first quarter. Values First Advisors Inc. now owns 63,350 shares of the business services provider's stock worth $824,000 after acquiring an additional 1,734 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in The Hackett Group by 138.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,554 shares of the business services provider's stock worth $46,000 after purchasing an additional 2,062 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in The Hackett Group by 53,500.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,216 shares of the business services provider's stock worth $63,000 after purchasing an additional 3,210 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of The Hackett Group by 4.5% during the first quarter. Bank of New York Mellon Corp now owns 89,129 shares of the business services provider's stock valued at $1,160,000 after purchasing an additional 3,866 shares in the last quarter. Hedge funds and other institutional investors own 78.12% of the company's stock.

The Hackett Group Trading Down 1.8%

NASDAQ:HCKT opened at $10.03 on Friday. The stock has a market cap of $249.55 million, a price-to-earnings ratio of 15.43, a PEG ratio of 0.86 and a beta of 0.92. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.19. The company's 50 day moving average price is $10.82 and its 200-day moving average price is $11.45. The Hackett Group, Inc. has a 52 week low of $9.15 and a 52 week high of $20.68.

The Hackett Group (NASDAQ:HCKT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.34 earnings per share for the quarter, hitting analysts' consensus estimates of $0.34. The company had revenue of $69.33 million during the quarter, compared to analyst estimates of $68.80 million. The Hackett Group had a net margin of 5.86% and a return on equity of 34.77%. The Hackett Group has set its Q3 2026 guidance at 0.370-0.390 EPS. On average, equities research analysts forecast that The Hackett Group, Inc. will post 1.17 earnings per share for the current fiscal year.

The Hackett Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 18th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $0.48 annualized dividend and a dividend yield of 4.8%. The Hackett Group's dividend payout ratio (DPR) is 73.85%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Zacks Research downgraded The Hackett Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Weiss Ratings reiterated a "sell (d+)" rating on shares of The Hackett Group in a research note on Monday, July 6th. Finally, Wall Street Zen raised The Hackett Group from a "hold" rating to a "buy" rating in a report on Saturday, September 5th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $16.50.

About The Hackett Group

The Hackett Group, Inc is a global business and technology consulting firm that helps organizations improve enterprise performance, streamline operations and manage large-scale transformation initiatives. Its services are designed for corporate functions including finance, procurement, human resources, information technology and shared services.

The company provides benchmarking and advisory services, digital transformation consulting, enterprise application consulting and implementation support.

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