Millennium Management LLC Boosts Stock Position in The Hackett Group, Inc. (NASDAQ:HCKT)

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

Other large investors have also recently modified their holdings of the company. Quantbot Technologies LP increased its holdings in The Hackett Group by 52.5% during the 4th quarter. Quantbot Technologies LP now owns 4,180 shares of the business services provider's stock valued at $128,000 after purchasing an additional 1,439 shares during the period. Longboard Asset Management LP purchased a new position in The Hackett Group during the 4th quarter valued at about $207,000. Arizona State Retirement System purchased a new position in The Hackett Group during the 4th quarter valued at about $221,000. Principal Financial Group Inc. purchased a new position in The Hackett Group during the 4th quarter valued at about $248,000. Finally, Integrated Quantitative Investments LLC purchased a new position in The Hackett Group during the 4th quarter valued at about $266,000. Hedge funds and other institutional investors own 78.12% of the company's stock.

The Hackett Group Stock Down 0.1%

Shares of HCKT stock traded down $0.03 during midday trading on Wednesday, reaching $24.53. 89,792 shares of the stock were exchanged, compared to its average volume of 121,408. The Hackett Group, Inc. has a 1 year low of $21.12 and a 1 year high of $34.02. The company's 50 day moving average is $25.93 and its two-hundred day moving average is $28.94. 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 firm has a market cap of $678.38 million, a PE ratio of 23.14, a price-to-earnings-growth ratio of 1.53 and a beta of 0.96.

The Hackett Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Friday, June 20th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $0.48 annualized dividend and a dividend yield of 1.96%. The Hackett Group's payout ratio is currently 56.47%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded The Hackett Group from a "strong-buy" rating to a "buy" rating in a report on Thursday, April 24th. Barrington Research reduced their price target 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.33.

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.