Trigran Investments Inc. Cuts Stock Position 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 stake in The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 11.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 778,615 shares of the business services provider's stock after selling 98,939 shares during the quarter. The Hackett Group accounts for 3.3% of Trigran Investments Inc.'s portfolio, making the stock its 14th largest position. Trigran Investments Inc. owned about 2.82% of The Hackett Group worth $22,751,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in The Hackett Group by 56.2% in the fourth quarter. JPMorgan Chase & Co. now owns 154,492 shares of the business services provider's stock worth $4,746,000 after purchasing an additional 55,608 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of The Hackett Group by 3.5% in the fourth quarter. Alliancebernstein L.P. now owns 32,257 shares of the business services provider's stock worth $991,000 after buying an additional 1,100 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of The Hackett Group by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 716,072 shares of the business services provider's stock worth $22,002,000 after buying an additional 15,819 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of The Hackett Group by 0.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 232,844 shares of the business services provider's stock worth $7,153,000 after buying an additional 952 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of The Hackett Group by 6.4% in the fourth quarter. Invesco Ltd. now owns 50,414 shares of the business services provider's stock worth $1,549,000 after buying an additional 3,043 shares during the last quarter. 78.12% of the stock is currently owned by hedge funds and other institutional investors.

The Hackett Group Stock Down 0.7%

HCKT stock traded down $0.14 during trading on Thursday, hitting $19.99. 358,873 shares of the company's stock traded hands, compared to its average volume of 181,714. The firm has a market capitalization of $549.92 million, a P/E ratio of 33.32, a PEG ratio of 1.41 and a beta of 0.96. The business has a fifty day simple moving average of $23.44 and a two-hundred day simple moving average of $26.14. 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 1 year low of $19.39 and a 1 year high of $34.02.

The Hackett Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be issued a $0.12 dividend. The ex-dividend date is Friday, September 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.4%. The Hackett Group's dividend payout ratio (DPR) is currently 80.00%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HCKT. Barrington Research dropped their price target on shares of 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 downgraded The Hackett Group from a "buy" rating to a "hold" rating in a research report on Monday, July 21st. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $29.67.

About The Hackett Group

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.