The Hackett Group (NASDAQ:HCKT) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of The Hackett Group (NASDAQ:HCKT - Free Report) from a buy rating to a hold rating in a research report report published on Saturday.

Separately, Barrington Research cut their target price on shares of The Hackett Group from $36.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, The Hackett Group has an average rating of "Moderate Buy" and a consensus target price of $31.33.

The Hackett Group Stock Performance

NASDAQ:HCKT traded up $0.52 during trading hours on Friday, reaching $25.67. The company had a trading volume of 160,767 shares, compared to its average volume of 131,258. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.16. The Hackett Group has a 52 week low of $21.12 and a 52 week high of $34.02. The firm has a market cap of $709.88 million, a price-to-earnings ratio of 30.20, a PEG ratio of 1.50 and a beta of 0.95. The firm's 50 day moving average price is $25.01 and its 200-day moving average price is $27.88.

The Hackett Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, June 20th. The Hackett Group's dividend payout ratio is presently 56.47%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc boosted its stake in shares of The Hackett Group by 48.9% during the 1st 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 last quarter. Quantbot Technologies LP boosted its stake in shares of The Hackett Group by 52.5% during the 4th quarter. Quantbot Technologies LP now owns 4,180 shares of the business services provider's stock worth $128,000 after acquiring an additional 1,439 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of The Hackett Group by 60.5% during the 1st quarter. AlphaQuest LLC now owns 4,804 shares of the business services provider's stock worth $140,000 after acquiring an additional 1,810 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of The Hackett Group during the 4th quarter worth $219,000. Finally, Arizona State Retirement System purchased a new position in shares of The Hackett Group during the 4th quarter worth $221,000. Hedge funds and other institutional investors own 78.12% of the company's stock.

The Hackett Group Company 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.