Norges Bank Takes $565,000 Position in The Hackett Group, Inc. (NASDAQ:HCKT)

Norges Bank acquired a new position in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 18,400 shares of the business services provider's stock, valued at approximately $565,000. Norges Bank owned 0.07% of The Hackett Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in The Hackett Group by 56.2% during the 4th quarter. JPMorgan Chase & Co. now owns 154,492 shares of the business services provider's stock worth $4,746,000 after acquiring an additional 55,608 shares in the last quarter. Barclays PLC boosted its stake in shares of The Hackett Group by 202.1% during the third quarter. Barclays PLC now owns 56,350 shares of the business services provider's stock valued at $1,481,000 after purchasing an additional 37,695 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in The Hackett Group during the fourth quarter valued at approximately $1,131,000. Raymond James Financial Inc. bought a new position in The Hackett Group in the fourth quarter worth approximately $1,056,000. Finally, Geode Capital Management LLC lifted its holdings in The Hackett Group by 4.4% during the third quarter. Geode Capital Management LLC now owns 700,253 shares of the business services provider's stock worth $18,399,000 after buying an additional 29,699 shares during the period. 78.12% of the stock is owned by institutional investors.

The Hackett Group Stock Performance

Shares of NASDAQ HCKT traded down $0.24 during midday trading on Thursday, reaching $25.79. The company had a trading volume of 20,649 shares, compared to its average volume of 110,631. The Hackett Group, Inc. has a 1 year low of $20.23 and a 1 year high of $34.02. The business's 50-day simple moving average is $29.01 and its 200 day simple moving average is $29.25. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.18. The stock has a market cap of $712.99 million, a P/E ratio of 24.45, a P/E/G ratio of 1.53 and a beta of 0.98.

The Hackett Group (NASDAQ:HCKT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.06). The business had revenue of $77.46 million during the quarter, compared to analysts' expectations of $75.64 million. The Hackett Group had a net margin of 9.44% and a return on equity of 36.40%. On average, analysts forecast that The Hackett Group, Inc. will post 1.43 earnings per share for the current fiscal year.

The Hackett Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were issued a dividend of $0.12 per share. The ex-dividend date was Friday, March 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.86%. This is a boost from The Hackett Group's previous quarterly dividend of $0.11. The Hackett Group's dividend payout ratio is presently 45.28%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Barrington Research reaffirmed an "outperform" rating and issued a $36.00 price objective on shares of The Hackett Group in a research report on Friday, April 11th. StockNews.com downgraded The Hackett Group from a "strong-buy" rating to a "buy" rating in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.67.

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.