Wesbanco Bank Inc. Purchases 22,044 Shares of The Hackett Group, Inc. (NASDAQ:HCKT)

Wesbanco Bank Inc. raised its holdings in The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 51.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 64,700 shares of the business services provider's stock after acquiring an additional 22,044 shares during the quarter. Wesbanco Bank Inc. owned approximately 0.23% of The Hackett Group worth $1,891,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of The Hackett Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 2,186,611 shares of the business services provider's stock valued at $67,173,000 after purchasing an additional 16,682 shares in the last quarter. Geode Capital Management LLC grew its stake in The Hackett Group by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 716,072 shares of the business services provider's stock valued at $22,002,000 after acquiring an additional 15,819 shares in the last quarter. Boston Partners grew its stake in The Hackett Group by 2.9% in the 4th quarter. Boston Partners now owns 525,435 shares of the business services provider's stock worth $16,086,000 after buying an additional 14,676 shares in the last quarter. Wellington Management Group LLP grew its stake in The Hackett Group by 5.2% in the 4th quarter. Wellington Management Group LLP now owns 393,291 shares of the business services provider's stock worth $12,082,000 after buying an additional 19,300 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in The Hackett Group by 1.7% in the 4th quarter. Wells Fargo & Company MN now owns 322,655 shares of the business services provider's stock worth $9,912,000 after buying an additional 5,459 shares in the last quarter. 78.12% of the stock is currently owned by institutional investors and hedge funds.

The Hackett Group Stock Performance

Shares of HCKT traded down $0.60 on Friday, reaching $24.10. The company's stock had a trading volume of 229,281 shares, compared to its average volume of 123,619. The stock's 50 day simple moving average is $25.42 and its two-hundred day simple moving average is $28.66. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market capitalization of $666.49 million, a P/E ratio of 22.74, a PEG ratio of 1.53 and a beta of 0.95. The Hackett Group, Inc. has a 12-month low of $21.12 and a 12-month high of $34.02.

The Hackett Group Dividend Announcement

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 issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Friday, June 20th. The Hackett Group's dividend payout ratio is currently 56.47%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Barrington Research dropped their price target on shares of The Hackett Group from $36.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Wall Street Zen lowered shares of The Hackett Group from a "strong-buy" rating to a "buy" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, The Hackett Group presently has an average rating of "Moderate Buy" and an average 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.