Northern Trust Corp Boosts Position in The Hackett Group, Inc. (NASDAQ:HCKT)

Northern Trust Corp increased its holdings in The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 284,120 shares of the business services provider's stock after acquiring an additional 18,746 shares during the quarter. Northern Trust Corp owned approximately 1.03% of The Hackett Group worth $8,728,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in HCKT. JPMorgan Chase & Co. increased its holdings 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 acquiring an additional 48,661 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in The Hackett Group in the 4th quarter worth approximately $248,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of The Hackett Group during the 4th quarter valued at approximately $258,000. Proficio Capital Partners LLC purchased a new position in shares of The Hackett Group during the 4th quarter valued at approximately $631,000. Finally, Wellington Management Group LLP lifted its position in shares of The Hackett Group by 5.2% during the 4th quarter. Wellington Management Group LLP now owns 393,291 shares of the business services provider's stock valued at $12,082,000 after buying an additional 19,300 shares in the last quarter. 78.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HCKT has been the subject of several recent research reports. Barrington Research reduced their price objective on The Hackett Group from $36.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen cut The Hackett Group from a "strong-buy" rating to a "buy" rating in a report on Thursday, April 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.33.

The Hackett Group Stock Down 0.9%

Shares of HCKT traded down $0.23 during midday trading on Friday, hitting $24.56. The company had a trading volume of 155,328 shares, compared to its average volume of 120,219. The company's 50-day simple moving average is $26.52 and its 200-day simple moving average is $29.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market capitalization of $679.21 million, a P/E ratio of 23.17, a P/E/G ratio of 1.53 and a beta of 0.96. The Hackett Group, Inc. has a 1 year low of $21.12 and a 1 year high of $34.02.

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

The Hackett Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Friday, June 20th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, June 20th. The Hackett Group's dividend payout ratio (DPR) is 56.47%.

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.