Trigran Investments Inc. Sells 201,283 Shares of The Hackett Group, Inc. (NASDAQ:HCKT)

Trigran Investments Inc. lessened its position in shares of The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 18.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 877,554 shares of the business services provider's stock after selling 201,283 shares during the period. The Hackett Group makes up about 3.1% of Trigran Investments Inc.'s holdings, making the stock its 14th biggest position. Trigran Investments Inc. owned 3.18% of The Hackett Group worth $26,958,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC grew its position in shares of The Hackett Group by 202.1% during the 3rd 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. Geode Capital Management LLC grew its position 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 in the last quarter. State Street Corp increased its stake in The Hackett Group by 4.1% in the 3rd quarter. State Street Corp now owns 641,783 shares of the business services provider's stock worth $16,927,000 after acquiring an additional 25,249 shares during the last quarter. JPMorgan Chase & Co. increased its stake in The Hackett Group by 96.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,884 shares of the business services provider's stock worth $2,598,000 after acquiring an additional 48,661 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of The Hackett Group in the 4th quarter valued at about $248,000. 78.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on HCKT shares. Barrington Research restated 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 lowered shares of The Hackett Group from a "strong-buy" rating to a "buy" rating in a report on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $32.67.

The Hackett Group Price Performance

NASDAQ:HCKT traded down $0.08 during mid-day trading on Friday, reaching $25.57. The stock had a trading volume of 34,374 shares, compared to its average volume of 110,890. The Hackett Group, Inc. has a one year low of $20.23 and a one year high of $34.02. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a 50 day moving average price of $28.26 and a two-hundred day moving average price of $29.24. The stock has a market capitalization of $706.96 million, a P/E ratio of 24.12, a P/E/G ratio of 1.53 and a beta of 0.98.

The Hackett Group (NASDAQ:HCKT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. As a group, analysts expect that The Hackett Group, Inc. will post 1.43 earnings per share for the current year.

The Hackett Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 21st. This is a boost from The Hackett Group's previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.88%. The Hackett Group's dividend payout ratio is currently 45.28%.

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.