Pinnacle Wealth Management LLC Purchases Shares of 25,957 The Hackett Group, Inc. $HCKT

Key Points

• Pinnacle Wealth Management LLC has invested approximately $758,000 in The Hackett Group, acquiring 25,957 shares, making it the fund's 22nd largest holding.
• The Hackett Group announced a quarterly dividend of $0.12 per share, with a yield of 2.4%, to be paid on October 3rd.
• Analyst ratings for The Hackett Group have been downgraded, with Wall Street Zen reducing its rating from "buy" to "hold" and Barrington Research lowering the target price from $32.00 to $27.00.

Pinnacle Wealth Management LLC acquired a new position in The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 25,957 shares of the business services provider's stock, valued at approximately $758,000. The Hackett Group comprises 0.9% of Pinnacle Wealth Management LLC's investment portfolio, making the stock its 22nd biggest holding. Pinnacle Wealth Management LLC owned 0.09% of The Hackett Group as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of HCKT. Values First Advisors Inc. increased its position in The Hackett Group by 0.5% in the first quarter. Values First Advisors Inc. now owns 80,453 shares of the business services provider's stock worth $2,350,000 after buying an additional 438 shares during the last quarter. Versant Capital Management Inc increased its position in The Hackett Group by 48.9% in the first quarter. Versant Capital Management Inc now owns 1,410 shares of the business services provider's stock worth $41,000 after buying an additional 463 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in The Hackett Group by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,393 shares of the business services provider's stock worth $442,000 after buying an additional 503 shares during the last quarter. Greenwood Capital Associates LLC increased its position in The Hackett Group by 3.6% in the first quarter. Greenwood Capital Associates LLC now owns 16,058 shares of the business services provider's stock worth $469,000 after buying an additional 558 shares during the last quarter. Finally, State of Wyoming increased its position in The Hackett Group by 3.9% in the fourth quarter. State of Wyoming now owns 19,821 shares of the business services provider's stock worth $609,000 after buying an additional 747 shares during the last quarter. 78.12% of the stock is owned by hedge funds and other institutional investors.

The Hackett Group Price Performance

The Hackett Group stock traded up $1.10 during midday trading on Friday, hitting $21.09. 284,781 shares of the company's stock were exchanged, compared to its average volume of 363,632. The Hackett Group, Inc. has a 52-week low of $19.39 and a 52-week high of $34.02. The stock has a 50-day moving average price of $23.29 and a two-hundred day moving average price of $25.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.71 and a current ratio of 1.71. The company has a market cap of $580.19 million, a P/E ratio of 35.15, a PEG ratio of 1.38 and a beta of 0.96.

The Hackett Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, September 19th. The Hackett Group's payout ratio is 80.00%.

Analyst Ratings Changes

A number of analysts recently issued reports on HCKT shares. Barrington Research decreased their price objective on The Hackett Group from $32.00 to $27.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Wall Street Zen lowered The Hackett Group from a "buy" rating to a "hold" rating in a research note on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $29.67.

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.