Pinnacle Wealth Management LLC Makes New Investment in 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 bought a new position in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 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 largest position. Pinnacle Wealth Management LLC owned 0.09% of The Hackett Group at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in shares of The Hackett Group by 0.7% during the first quarter. Wellington Management Group LLP now owns 395,917 shares of the business services provider's stock worth $11,569,000 after purchasing an additional 2,626 shares during the last quarter. Northern Trust Corp lifted its stake in shares of The Hackett Group by 7.1% during the fourth quarter. Northern Trust Corp now owns 284,120 shares of the business services provider's stock valued at $8,728,000 after acquiring an additional 18,746 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of The Hackett Group by 0.8% during the first quarter. Harbor Capital Advisors Inc. now owns 257,170 shares of the business services provider's stock valued at $7,515,000 after acquiring an additional 1,987 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of The Hackett Group by 21.8% during the first quarter. Russell Investments Group Ltd. now owns 249,033 shares of the business services provider's stock valued at $7,277,000 after acquiring an additional 44,493 shares during the period. Finally, Aptus Capital Advisors LLC lifted its stake in shares of The Hackett Group by 12.7% during the first quarter. Aptus Capital Advisors LLC now owns 246,081 shares of the business services provider's stock valued at $7,190,000 after acquiring an additional 27,787 shares during the period. Institutional investors own 78.12% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HCKT. Wall Street Zen lowered The Hackett Group from a "buy" rating to a "hold" rating in a research note on Monday, July 21st. Barrington Research cut their price target 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. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $29.67.

The Hackett Group Trading Down 0.7%

NASDAQ:HCKT traded down $0.14 during mid-day trading on Thursday, hitting $19.99. The company had a trading volume of 358,873 shares, compared to its average volume of 181,714. The Hackett Group, Inc. has a fifty-two week low of $19.39 and a fifty-two week high of $34.02. The business's fifty day moving average is $23.35 and its two-hundred day moving average is $26.06. 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 firm has a market cap of $549.92 million, a P/E ratio of 33.32, a P/E/G ratio of 1.41 and a beta of 0.96.

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. This represents a $0.48 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, September 19th. The Hackett Group's dividend payout ratio is 80.00%.

The Hackett Group Company 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.