Principal Financial Group Inc. Takes Position in The Hackett Group, Inc. (NASDAQ:HCKT)

Principal Financial Group Inc. acquired a new stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,061 shares of the business services provider’s stock, valued at approximately $248,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in shares of The Hackett Group by 353.1% during the fourth quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 738 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of The Hackett Group by 383.4% during the third quarter. Quantbot Technologies LP now owns 2,741 shares of the business services provider’s stock valued at $72,000 after acquiring an additional 2,174 shares in the last quarter. Longboard Asset Management LP bought a new stake in shares of The Hackett Group during the fourth quarter valued at approximately $207,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of The Hackett Group during the fourth quarter valued at approximately $258,000. Finally, Quantinno Capital Management LP bought a new stake in shares of The Hackett Group during the third quarter valued at approximately $276,000. Institutional investors own 78.12% of the company’s stock.

The Hackett Group Stock Down 0.6 %

Shares of NASDAQ:HCKT opened at $29.18 on Friday. The stock has a market cap of $805.16 million, a price-to-earnings ratio of 27.53, a PEG ratio of 1.53 and a beta of 0.99. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.18. The Hackett Group, Inc. has a 12-month low of $20.23 and a 12-month high of $34.02. The business’s 50 day moving average is $30.58 and its 200 day moving average is $28.87.

The Hackett Group (NASDAQ:HCKT) last posted its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.06). The Hackett Group had a return on equity of 36.40% and a net margin of 9.44%. The business had revenue of $77.46 million during the quarter, compared to analysts’ expectations of $75.64 million. On average, sell-side analysts forecast that The Hackett Group, Inc. will post 1.43 earnings per share for the current fiscal year.

The Hackett Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.48 annualized dividend and a yield of 1.64%. This is a boost from The Hackett Group’s previous quarterly dividend of $0.11. The Hackett Group’s payout ratio is currently 45.28%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HCKT shares. StockNews.com cut The Hackett Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Barrington Research lifted their target price on The Hackett Group from $28.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

The Hackett Group 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.