Renaissance Technologies LLC Purchases 6,600 Shares of The Hackett Group, Inc. (NASDAQ:HCKT)

Renaissance Technologies LLC lifted its position in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,053,446 shares of the business services provider’s stock after purchasing an additional 6,600 shares during the quarter. Renaissance Technologies LLC owned 3.81% of The Hackett Group worth $22,881,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System bought a new position in The Hackett Group during the first quarter worth about $55,000. CWM LLC lifted its holdings in shares of The Hackett Group by 78.4% during the 2nd quarter. CWM LLC now owns 4,667 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 2,051 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in shares of The Hackett Group in the 4th quarter valued at approximately $110,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in The Hackett Group by 18.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,419 shares of the business services provider’s stock worth $183,000 after purchasing an additional 1,283 shares in the last quarter. Finally, BOKF NA acquired a new stake in The Hackett Group during the 1st quarter worth approximately $305,000. Institutional investors and hedge funds own 78.12% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HCKT shares. Barrington Research reiterated an “outperform” rating and issued a $28.00 price target on shares of The Hackett Group in a report on Tuesday. Roth Capital lowered shares of The Hackett Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

The Hackett Group Price Performance

Shares of HCKT opened at $26.02 on Friday. The company has a 50 day moving average of $25.63 and a 200-day moving average of $23.62. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $718.52 million, a P/E ratio of 20.65, a P/E/G ratio of 1.40 and a beta of 0.91. The Hackett Group, Inc. has a twelve month low of $20.23 and a twelve month high of $27.68.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The Hackett Group had a net margin of 11.46% and a return on equity of 38.20%. The firm had revenue of $75.90 million for the quarter, compared to analyst estimates of $74.16 million. As a group, equities research analysts forecast that The Hackett Group, Inc. will post 1.28 EPS for the current fiscal year.

The Hackett Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, September 20th. This represents a $0.44 annualized dividend and a yield of 1.69%. The Hackett Group’s dividend payout ratio (DPR) is presently 34.92%.

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.