The Hackett Group, Inc. (NASDAQ:HCKT) Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 269.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,689 shares of the business services provider's stock after acquiring an additional 39,163 shares during the quarter. Millennium Management LLC owned 0.19% of The Hackett Group worth $1,649,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HCKT. Longboard Asset Management LP purchased a new position in The Hackett Group during the fourth quarter valued at approximately $207,000. Allspring Global Investments Holdings LLC raised its position in The Hackett Group by 11.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 33,349 shares of the business services provider's stock valued at $1,010,000 after acquiring an additional 3,497 shares in the last quarter. Legato Capital Management LLC raised its position in The Hackett Group by 4.3% during the fourth quarter. Legato Capital Management LLC now owns 56,629 shares of the business services provider's stock valued at $1,740,000 after acquiring an additional 2,337 shares in the last quarter. Rhumbline Advisers raised its position in The Hackett Group by 38.9% during the fourth quarter. Rhumbline Advisers now owns 53,049 shares of the business services provider's stock valued at $1,630,000 after acquiring an additional 14,863 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in The Hackett Group during the fourth quarter valued at approximately $248,000. 78.12% of the stock is currently owned by hedge funds and other institutional investors.

The Hackett Group Price Performance

HCKT traded up $0.45 during trading on Friday, hitting $25.00. The company's stock had a trading volume of 106,190 shares, compared to its average volume of 121,838. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.18. The Hackett Group, Inc. has a twelve month low of $21.12 and a twelve month high of $34.02. The business's fifty day simple moving average is $25.74 and its 200 day simple moving average is $28.87. The firm has a market capitalization of $691.38 million, a price-to-earnings ratio of 23.59, a P/E/G ratio of 1.53 and a beta of 0.95.

The Hackett Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Friday, June 20th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, June 20th. The Hackett Group's dividend payout ratio is presently 56.47%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wall Street Zen cut The Hackett Group from a "strong-buy" rating to a "buy" rating in a research report on Thursday, April 24th. Barrington Research dropped their price objective on The Hackett Group from $36.00 to $32.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently 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.