JPMorgan Chase & Co. Boosts Stock Holdings in The Hackett Group, Inc. (NASDAQ:HCKT)

JPMorgan Chase & Co. grew its holdings in The Hackett Group, Inc. (NASDAQ:HCKT) by 96.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 98,884 shares of the business services provider’s stock after purchasing an additional 48,661 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.36% of The Hackett Group worth $2,598,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HCKT. Millennium Management LLC raised its stake in The Hackett Group by 293.2% in the second quarter. Millennium Management LLC now owns 224,567 shares of the business services provider’s stock worth $4,878,000 after buying an additional 167,453 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of The Hackett Group by 150.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 251,489 shares of the business services provider’s stock valued at $6,607,000 after acquiring an additional 150,962 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in shares of The Hackett Group in the 3rd quarter worth $3,256,000. Dean Investment Associates LLC lifted its stake in shares of The Hackett Group by 57.2% during the 3rd quarter. Dean Investment Associates LLC now owns 165,647 shares of the business services provider’s stock worth $4,352,000 after purchasing an additional 60,307 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in The Hackett Group by 47.1% during the third quarter. Pinnacle Associates Ltd. now owns 136,674 shares of the business services provider’s stock valued at $3,590,000 after purchasing an additional 43,775 shares in the last quarter. Hedge funds and other institutional investors own 78.12% of the company’s stock.

The Hackett Group Trading Up 0.1 %

Shares of The Hackett Group stock opened at $30.17 on Tuesday. The Hackett Group, Inc. has a 12-month low of $20.23 and a 12-month high of $32.83. The firm’s 50 day simple moving average is $30.91 and its two-hundred day simple moving average is $27.44. 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 firm has a market capitalization of $832.48 million, a price-to-earnings ratio of 24.73, a PEG ratio of 1.45 and a beta of 0.99.

The Hackett Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were given a dividend of $0.11 per share. The ex-dividend date was Friday, December 20th. This represents a $0.44 dividend on an annualized basis and a yield of 1.46%. The Hackett Group’s dividend payout ratio is currently 36.07%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HCKT shares. Craig Hallum boosted 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 note on Tuesday, November 5th. Roth Mkm upped their price target on The Hackett Group from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Barrington Research reissued an “outperform” rating and issued a $28.00 price objective on shares of The Hackett Group in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

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.