The Manufacturers Life Insurance Company Has $260,000 Stake in The Hackett Group, Inc. (NASDAQ:HCKT)

The Manufacturers Life Insurance Company lessened its position in The Hackett Group, Inc. (NASDAQ:HCKT) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,879 shares of the business services provider’s stock after selling 383 shares during the period. The Manufacturers Life Insurance Company’s holdings in The Hackett Group were worth $260,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of The Hackett Group by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 244,516 shares of the business services provider’s stock worth $5,311,000 after buying an additional 10,725 shares during the period. Legato Capital Management LLC bought a new position in shares of The Hackett Group in the second quarter valued at $609,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of The Hackett Group by 18.0% in the second 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 during the last quarter. Aptus Capital Advisors LLC grew its stake in shares of The Hackett Group by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 154,193 shares of the business services provider’s stock worth $3,349,000 after acquiring an additional 30,631 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of The Hackett Group by 1.6% in the second quarter. Rhumbline Advisers now owns 38,946 shares of the business services provider’s stock valued at $846,000 after acquiring an additional 608 shares in the last quarter. 78.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on HCKT shares. Craig Hallum lifted their price objective on shares of The Hackett Group from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Barrington Research reaffirmed an “outperform” rating and set a $28.00 price objective on shares of The Hackett Group in a report on Tuesday, November 5th. Finally, Roth Mkm raised their target price on shares of The Hackett Group from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

The Hackett Group Stock Performance

Shares of The Hackett Group stock opened at $32.11 on Tuesday. The stock has a market cap of $886.01 million, a price-to-earnings ratio of 26.23, a PEG ratio of 1.73 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.51 and a quick ratio of 1.51. The firm’s 50-day moving average is $28.71 and its 200 day moving average is $25.88. The Hackett Group, Inc. has a 1 year low of $20.23 and a 1 year high of $32.83.

The Hackett Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, December 20th. The Hackett Group’s payout ratio is presently 36.07%.

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.