Victory Capital Management Inc. Has $832,000 Stock Holdings in The Hackett Group, Inc. (NASDAQ:HCKT)

Key Points

• Victory Capital Management Inc. increased its stake in The Hackett Group by 128.7% in Q1, owning 28,487 shares valued at $832,000.
• Institutional investors hold 78.12% of The Hackett Group's stock, with several hedge funds recently adjusting their positions.
• The Hackett Group currently has an average rating of "Moderate Buy" from analysts, with a price target of $31.33.

Victory Capital Management Inc. grew its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 128.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,487 shares of the business services provider's stock after acquiring an additional 16,030 shares during the period. Victory Capital Management Inc. owned about 0.10% of The Hackett Group worth $832,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Linden Thomas Advisory Services LLC boosted its holdings in shares of The Hackett Group by 3.3% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 97,013 shares of the business services provider's stock valued at $2,835,000 after buying an additional 3,117 shares during the period. Values First Advisors Inc. raised its position in shares of The Hackett Group by 0.5% during the 1st quarter. Values First Advisors Inc. now owns 80,453 shares of the business services provider's stock worth $2,350,000 after buying an additional 438 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of The Hackett Group by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 234,470 shares of the business services provider's stock worth $6,851,000 after purchasing an additional 1,626 shares in the last quarter. CWC Advisors LLC. raised its holdings in shares of The Hackett Group by 32.1% in the 1st quarter. CWC Advisors LLC. now owns 16,172 shares of the business services provider's stock worth $473,000 after purchasing an additional 3,934 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of The Hackett Group by 23.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 41,234 shares of the business services provider's stock worth $1,204,000 after purchasing an additional 7,885 shares in the last quarter. 78.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on HCKT. Barrington Research restated an "outperform" rating and set a $32.00 price target on shares of The Hackett Group in a report on Thursday, July 17th. Wall Street Zen downgraded shares of The Hackett Group from a "buy" rating to a "hold" rating in a research report on Monday, July 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, The Hackett Group presently has an average rating of "Moderate Buy" and an average target price of $31.33.

The Hackett Group Stock Performance

NASDAQ:HCKT traded down $0.39 during trading hours on Friday, hitting $23.00. 390,705 shares of the company traded hands, compared to its average volume of 186,068. The stock has a market capitalization of $636.18 million, a price-to-earnings ratio of 27.06, a P/E/G ratio of 1.37 and a beta of 0.96. The Hackett Group, Inc. has a twelve month low of $21.44 and a twelve month high of $34.02. The firm has a 50-day moving average of $24.41 and a 200 day moving average of $27.00. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.16.

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.