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

Financial Management Professionals Inc. acquired a new stake in The Hackett Group, Inc. (NASDAQ:HCKT) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,062 shares of the business services provider’s stock, valued at approximately $54,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of The Hackett Group by 3.2% in the first quarter. Vanguard Group Inc. now owns 1,995,053 shares of the business services provider’s stock valued at $48,480,000 after buying an additional 61,635 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of The Hackett Group by 0.6% in the second quarter. Renaissance Technologies LLC now owns 1,053,446 shares of the business services provider’s stock valued at $22,881,000 after buying an additional 6,600 shares in the last quarter. Earnest Partners LLC increased its position in shares of The Hackett Group by 13.1% in the first quarter. Earnest Partners LLC now owns 488,606 shares of the business services provider’s stock valued at $11,873,000 after buying an additional 56,635 shares in the last quarter. 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 purchasing an additional 10,725 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of The Hackett Group by 293.2% during the second quarter. Millennium Management LLC now owns 224,567 shares of the business services provider’s stock worth $4,878,000 after purchasing an additional 167,453 shares in the last quarter. 78.12% of the stock is currently owned by hedge funds and other institutional investors.

The Hackett Group Stock Down 1.2 %

Shares of HCKT opened at $24.57 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 1.71. The stock has a 50 day moving average price of $25.81 and a 200 day moving average price of $23.87. The stock has a market capitalization of $678.48 million, a price-to-earnings ratio of 19.50, a PEG ratio of 1.42 and a beta of 0.91. The Hackett Group, Inc. has a one year low of $20.23 and a one year high of $27.68.

The Hackett Group (NASDAQ:HCKT) last issued its earnings results on Tuesday, August 6th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $75.90 million during the quarter, compared to analysts’ expectations of $74.16 million. The Hackett Group had a return on equity of 38.20% and a net margin of 11.46%. Equities research analysts forecast that The Hackett Group, Inc. will post 1.28 earnings per share for the current fiscal year.

The Hackett Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 20th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.79%. The ex-dividend date was Friday, September 20th. The Hackett Group’s payout ratio is currently 34.92%.

Analysts Set New Price Targets

Several analysts recently commented on HCKT shares. Barrington Research reiterated an “outperform” rating and set a $28.00 price target on shares of The Hackett Group in a research report on Wednesday, September 25th. Roth Capital cut The Hackett Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th.

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.