Charles Schwab Investment Management Inc. Sells 66,013 Shares of The Hackett Group, Inc. $HCKT

Key Points

• Charles Schwab Investment Management Inc. has reduced its holdings in The Hackett Group, Inc. by 24.4%, owning 204,259 shares after selling 66,013 shares during Q1.
• Institutional investors collectively own 78.12% of The Hackett Group's stock, with various firms adjusting their positions recently.
• The company declared a quarterly dividend of $0.12 per share, reflecting an annualized dividend yield of 2.3%.

Charles Schwab Investment Management Inc. cut its holdings in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 24.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 204,259 shares of the business services provider's stock after selling 66,013 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.74% of The Hackett Group worth $5,968,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in shares of The Hackett Group by 48.9% during the first quarter. Versant Capital Management Inc now owns 1,410 shares of the business services provider's stock worth $41,000 after buying an additional 463 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of The Hackett Group during the fourth quarter worth approximately $219,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of The Hackett Group by 15.3% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 9,684 shares of the business services provider's stock worth $283,000 after buying an additional 1,285 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of The Hackett Group by 2,890.4% in the first quarter. GAMMA Investing LLC now owns 11,483 shares of the business services provider's stock valued at $3,360,000 after purchasing an additional 11,099 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in shares of The Hackett Group in the first quarter valued at $344,000. 78.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barrington Research cut their target price on 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 lowered The Hackett Group from a "buy" rating to a "hold" rating in a research note on Monday, July 21st. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $29.67.

The Hackett Group Stock Performance

Shares of NASDAQ HCKT traded down $0.13 during trading hours on Tuesday, reaching $20.69. The stock had a trading volume of 8,582 shares, compared to its average volume of 183,088. The business's fifty day moving average is $22.91 and its two-hundred day moving average is $25.45. The Hackett Group, Inc. has a twelve month low of $19.39 and a twelve month high of $34.02. The company has a market cap of $569.18 million, a price-to-earnings ratio of 34.48, a PEG ratio of 1.43 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.71.

The Hackett Group Announces Dividend

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

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.