Trigran Investments Inc. Has $22.75 Million Stock Holdings in The Hackett Group, Inc. $HCKT

Key Points

• Trigran Investments Inc. has reduced its stake in The Hackett Group by 11.3%, selling 98,939 shares, yet it still maintains around 3.3% of its portfolio in this stock valued at approximately $22.75 million.
• The Hackett Group recently announced a quarterly dividend of $0.12 per share, payable on October 3rd, reflecting a 2.4% yield.
• Several analysts have adjusted their ratings on HCKT, including a downgrade from a "buy" to a "hold" by Wall Street Zen and a price target reduction by Barrington Research from $32.00 to $27.00.

Trigran Investments Inc. lowered its position in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 11.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 778,615 shares of the business services provider's stock after selling 98,939 shares during the quarter. The Hackett Group accounts for about 3.3% of Trigran Investments Inc.'s investment portfolio, making the stock its 14th biggest holding. Trigran Investments Inc. owned about 2.82% of The Hackett Group worth $22,751,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in The Hackett Group by 23.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 41,234 shares of the business services provider's stock valued at $1,204,000 after purchasing an additional 7,885 shares during the period. Envestnet Asset Management Inc. raised its holdings in The Hackett Group by 0.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 234,470 shares of the business services provider's stock worth $6,851,000 after buying an additional 1,626 shares during the period. Victory Capital Management Inc. raised its holdings in The Hackett Group by 128.7% during the 1st quarter. Victory Capital Management Inc. now owns 28,487 shares of the business services provider's stock worth $832,000 after buying an additional 16,030 shares during the period. Ameriprise Financial Inc. raised its holdings in The Hackett Group by 18.9% during the 4th quarter. Ameriprise Financial Inc. now owns 18,872 shares of the business services provider's stock worth $580,000 after buying an additional 3,004 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in The Hackett Group by 3.6% during the 4th 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 period. Institutional investors and hedge funds own 78.12% of the company's stock.

The Hackett Group Stock Performance

Shares of The Hackett Group stock traded up $1.0520 on Friday, hitting $21.0420. The stock had a trading volume of 86,446 shares, compared to its average volume of 181,056. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.19. The Hackett Group, Inc. has a twelve month low of $19.39 and a twelve month high of $34.02. The business's 50 day moving average is $23.35 and its two-hundred day moving average is $26.06. The stock has a market cap of $578.89 million, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 1.39 and a beta of 0.96.

The Hackett Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, September 19th. This represents a $0.48 annualized dividend and a dividend yield of 2.3%. The Hackett Group's dividend payout ratio (DPR) is currently 80.00%.

Analyst Ratings Changes

A number of research firms have weighed in on HCKT. Barrington Research reduced their price target on The Hackett Group from $32.00 to $27.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Wall Street Zen downgraded The Hackett Group from a "buy" rating to a "hold" rating in a research report on Monday, July 21st. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average 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.