Bank of New York Mellon Corp Cuts Holdings in The Hackett Group, Inc. (NASDAQ:HCKT)

Bank of New York Mellon Corp lessened its stake in The Hackett Group, Inc. (NASDAQ:HCKT) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,895 shares of the business services provider’s stock after selling 16,668 shares during the period. Bank of New York Mellon Corp owned approximately 0.77% of The Hackett Group worth $6,509,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HCKT. Versant Capital Management Inc lifted its holdings in shares of The Hackett Group by 353.1% in the 4th quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $29,000 after acquiring an additional 738 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of The Hackett Group by 383.4% in the 3rd quarter. Quantbot Technologies LP now owns 2,741 shares of the business services provider’s stock worth $72,000 after acquiring an additional 2,174 shares during the last quarter. Longboard Asset Management LP bought a new stake in shares of The Hackett Group in the 4th quarter worth approximately $207,000. Principal Financial Group Inc. bought a new stake in shares of The Hackett Group in the 4th quarter worth approximately $248,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of The Hackett Group in the 4th quarter worth approximately $258,000. Hedge funds and other institutional investors own 78.12% of the company’s stock.

The Hackett Group Trading Up 0.1 %

NASDAQ:HCKT opened at $28.19 on Monday. The company has a fifty day moving average of $30.36 and a 200 day moving average of $29.00. The Hackett Group, Inc. has a 52 week low of $20.23 and a 52 week high of $34.02. 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 firm has a market capitalization of $783.43 million, a P/E ratio of 26.59, a P/E/G ratio of 1.53 and a beta of 1.03.

The Hackett Group (NASDAQ:HCKT) last issued 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 company had revenue of $77.46 million for 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%. On average, research analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be given a dividend of $0.12 per share. This is an increase from The Hackett Group’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Friday, March 21st. The Hackett Group’s payout ratio is presently 45.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HCKT shares. Barrington Research upped their price target on shares of The Hackett Group from $28.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

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.