Invesco Ltd. Raises Position in The Hackett Group, Inc. $HCKT

Key Points

• Invesco Ltd. increased its stake in The Hackett Group by 151.7% in Q1, owning 126,874 shares worth approximately $3.7 million at the end of the reporting period.
• The Hackett Group recently declared a quarterly dividend of $0.12 per share, set to be paid on October 3rd, with a dividend yield of 2.3%.
• Despite some analysts downgrading their ratings, The Hackett Group has an average rating of "Buy" and a consensus target price of $29.67.

Invesco Ltd. increased its position in The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 151.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,874 shares of the business services provider's stock after acquiring an additional 76,460 shares during the period. Invesco Ltd. owned approximately 0.46% of The Hackett Group worth $3,707,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of The Hackett Group by 5.2% in the 4th quarter. Wellington Management Group LLP now owns 393,291 shares of the business services provider's stock worth $12,082,000 after acquiring an additional 19,300 shares during the period. Northern Trust Corp grew its holdings in The Hackett Group by 7.1% during the 4th 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 last quarter. Harbor Capital Advisors Inc. grew its holdings in The Hackett Group by 0.8% during the 1st 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 last quarter. Envestnet Asset Management Inc. grew its holdings in The Hackett Group by 0.7% during the 1st 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 last quarter. Finally, Aptus Capital Advisors LLC grew its holdings in The Hackett Group by 22.4% during the 4th quarter. Aptus Capital Advisors LLC now owns 218,294 shares of the business services provider's stock valued at $6,706,000 after buying an additional 39,995 shares during the last quarter. Institutional investors and hedge funds own 78.12% of the company's stock.

Wall Street Analysts Forecast Growth

HCKT has been the topic of a number of analyst reports. Barrington Research lowered their target price on The Hackett Group from $32.00 to $27.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Wall Street Zen cut The Hackett Group from a "buy" rating to a "hold" rating in a report on Monday, July 21st. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $29.67.

The Hackett Group Trading Down 1.1%

Shares of The Hackett Group stock traded down $0.22 during trading hours on Wednesday, reaching $20.37. 200,670 shares of the company's stock were exchanged, compared to its average volume of 348,189. The Hackett Group, Inc. has a 52-week low of $19.39 and a 52-week high of $34.02. The firm has a market capitalization of $560.38 million, a price-to-earnings ratio of 33.95, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02. The company has a fifty day moving average of $22.72 and a 200-day moving average of $25.38. 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 Hackett Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, September 19th. The Hackett Group's dividend payout ratio is currently 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.