Lazard Asset Management LLC Increases Position in The Hackett Group, Inc. (NASDAQ:HCKT)

Lazard Asset Management LLC increased its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 981.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,721 shares of the business services provider's stock after purchasing an additional 21,528 shares during the quarter. Lazard Asset Management LLC owned approximately 0.09% of The Hackett Group worth $727,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in shares of The Hackett Group by 96.9% during the third quarter. JPMorgan Chase & Co. now owns 98,884 shares of the business services provider's stock valued at $2,598,000 after buying an additional 48,661 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of The Hackett Group during the 4th quarter worth approximately $248,000. Hennion & Walsh Asset Management Inc. purchased a new stake in The Hackett Group during the fourth quarter valued at approximately $258,000. Proficio Capital Partners LLC acquired a new stake in The Hackett Group in the fourth quarter valued at approximately $631,000. Finally, Wellington Management Group LLP boosted its stake in The Hackett Group by 5.2% in 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 acquiring an additional 19,300 shares in the last quarter. Institutional investors own 78.12% of the company's stock.

The Hackett Group Price Performance

Shares of NASDAQ HCKT opened at $25.57 on Wednesday. The Hackett Group, Inc. has a 52 week low of $21.12 and a 52 week high of $34.02. The business's 50 day moving average price is $26.73 and its 200 day moving average price is $29.32. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.18. The firm has a market cap of $707.14 million, a P/E ratio of 24.12, a P/E/G ratio of 1.53 and a beta of 0.96.

The Hackett Group (NASDAQ:HCKT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.06). The Hackett Group had a return on equity of 36.40% and a net margin of 9.44%. The company had revenue of $77.46 million for the quarter, compared to analyst estimates of $75.64 million. On average, sell-side analysts expect that The Hackett Group, Inc. will post 1.43 earnings per share for the current year.

The Hackett Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, June 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.88%. The Hackett Group's dividend payout ratio is currently 56.47%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barrington Research decreased their price objective on The Hackett Group from $36.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. StockNews.com downgraded The Hackett Group from a "strong-buy" rating to a "buy" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, The Hackett Group presently has an average rating of "Moderate Buy" and an average target price of $31.33.

About The Hackett Group

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.

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