Globeflex Capital L P trimmed its position in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 10.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,896 shares of the business services provider’s stock after selling 12,000 shares during the quarter. Globeflex Capital L P owned 0.37% of The Hackett Group worth $2,174,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of The Hackett Group by 1.9% in the 3rd quarter. BlackRock Inc. now owns 2,378,270 shares of the business services provider’s stock valued at $47,921,000 after purchasing an additional 44,652 shares during the last quarter. Martingale Asset Management L P grew its stake in shares of The Hackett Group by 3.9% in the 3rd quarter. Martingale Asset Management L P now owns 108,120 shares of the business services provider’s stock valued at $2,179,000 after purchasing an additional 4,084 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of The Hackett Group by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 300,367 shares of the business services provider’s stock valued at $6,052,000 after purchasing an additional 4,314 shares during the last quarter. Granite Investment Partners LLC purchased a new position in shares of The Hackett Group in the 3rd quarter valued at approximately $524,000. Finally, Sapphire Star Partners LP grew its stake in shares of The Hackett Group by 5.1% in the 3rd quarter. Sapphire Star Partners LP now owns 62,485 shares of the business services provider’s stock valued at $1,259,000 after purchasing an additional 3,010 shares during the last quarter. Institutional investors own 79.88% of the company’s stock.
The Hackett Group stock opened at $17.26 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.09. The Hackett Group, Inc. has a 1-year low of $15.03 and a 1-year high of $22.84. The company has a market capitalization of $521.00 million, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.
The firm also recently declared a semiannual dividend, which will be paid on Friday, January 4th. Investors of record on Friday, December 21st will be paid a $0.17 dividend. The ex-dividend date is Thursday, December 20th. This is an increase from The Hackett Group’s previous semiannual dividend of $0.15. This represents a dividend yield of 1.7%. The Hackett Group’s payout ratio is 44.74%.
Several brokerages have weighed in on HCKT. BidaskClub upgraded The Hackett Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Barrington Research set a $22.00 target price on The Hackett Group and gave the company a “buy” rating in a research note on Tuesday, October 30th. ValuEngine upgraded The Hackett Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 9th. SunTrust Banks reiterated a “buy” rating and issued a $23.00 target price on shares of The Hackett Group in a research note on Thursday, August 9th. Finally, Zacks Investment Research downgraded The Hackett Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $21.33.
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About The Hackett Group
The Hackett Group, Inc operates as a strategic advisory and technology consulting firm primarily in North America and European countries. Its executive advisory programs include best practice intelligence center, an online searchable repository of best practices, performance metrics, conference presentations, and associated research; best practice accelerators that provide Web based access to best practices, customized software configuration tools, and best practice process flows; advisor inquiry, an inquiry service used by clients for access to fact-based advice on proven approaches and methods; best practice research, a research that provides insights into the proven approaches; and peer interaction comprising member-led Webcasts, annual best practice conferences, annual member forums, membership performance surveys, and client-submitted content.
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