Mackenzie Financial Corp Increases Stake in The Hackett Group, Inc. (NASDAQ:HCKT)

Mackenzie Financial Corp increased its holdings in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 38.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,772 shares of the business services provider's stock after buying an additional 16,270 shares during the period. Mackenzie Financial Corp owned 0.21% of The Hackett Group worth $1,717,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of HCKT. Versant Capital Management Inc boosted its position in 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 valued at $41,000 after purchasing an additional 463 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of The Hackett Group in the 4th quarter valued at $219,000. Integrated Quantitative Investments LLC bought a new stake in shares of The Hackett Group during the fourth quarter worth about $266,000. Jump Financial LLC acquired a new position in The Hackett Group in the 4th quarter valued at approximately $273,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of The Hackett Group by 15.3% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 9,684 shares of the business services provider's stock valued at $283,000 after buying an additional 1,285 shares during the last quarter. 78.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HCKT shares. Wall Street Zen lowered The Hackett Group from a "buy" rating to a "hold" rating in a research report on Monday, July 21st. Barrington Research dropped their target price on shares of The Hackett Group from $32.00 to $27.00 and set an "outperform" rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $29.67.

The Hackett Group Price Performance

NASDAQ:HCKT traded up $0.06 during mid-day trading on Thursday, hitting $20.78. 224,398 shares of the stock traded hands, compared to its average volume of 168,611. The Hackett Group, Inc. has a 12-month low of $19.39 and a 12-month high of $34.02. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.16. The company has a market cap of $574.64 million, a PE ratio of 34.63, a price-to-earnings-growth ratio of 1.33 and a beta of 0.96. The business's 50-day moving average price is $24.26 and its 200 day moving average price is $26.84.

The Hackett Group Announces Dividend

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 issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a $0.48 annualized dividend and a dividend yield of 2.3%. The Hackett Group's dividend payout ratio (DPR) is presently 80.00%.

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.