Rhumbline Advisers Reduces Stock Position in The Hackett Group, Inc. (NASDAQ:HCKT)

Rhumbline Advisers trimmed its stake in The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 26.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,925 shares of the business services provider's stock after selling 14,124 shares during the quarter. Rhumbline Advisers owned about 0.14% of The Hackett Group worth $1,137,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Versant Capital Management Inc raised 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 acquiring an additional 463 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 acquiring an additional 503 shares during the period. Swiss National Bank raised its position in The Hackett Group by 1.4% in the fourth quarter. Swiss National Bank now owns 48,992 shares of the business services provider's stock worth $1,505,000 after acquiring an additional 700 shares during the period. State of Wyoming raised 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 acquiring an additional 747 shares during the period. Finally, Stifel Financial Corp raised its position in The Hackett Group by 3.5% in the fourth quarter. Stifel Financial Corp now owns 23,789 shares of the business services provider's stock worth $731,000 after acquiring an additional 800 shares during the period. 78.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen raised shares of The Hackett Group from a "hold" rating to a "buy" rating in a research report on Saturday. Barrington Research decreased their target price on shares of 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, The Hackett Group has an average rating of "Moderate Buy" and a consensus price target of $31.33.

The Hackett Group Trading Up 2.8%

Shares of The Hackett Group stock traded up $0.65 during trading on Monday, reaching $24.15. The company's stock had a trading volume of 333,026 shares, compared to its average volume of 127,221. The Hackett Group, Inc. has a 52-week low of $21.12 and a 52-week high of $34.02. The company has a market cap of $667.99 million, a price-to-earnings ratio of 28.41, a PEG ratio of 1.37 and a beta of 0.96. The firm's 50-day moving average is $25.12 and its two-hundred day moving average is $28.30. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.16.

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

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.