The Hackett Group, Inc. (HCKT) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its stake in The Hackett Group, Inc. (NASDAQ:HCKT) by 24.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,677 shares of the business services provider’s stock after selling 6,447 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.07% of The Hackett Group worth $305,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Grandeur Peak Global Advisors LLC purchased a new stake in The Hackett Group in the 2nd quarter worth $1,929,000. The Manufacturers Life Insurance Company raised its position in shares of The Hackett Group by 8.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,385 shares of the business services provider’s stock valued at $301,000 after buying an additional 1,549 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of The Hackett Group by 53.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 51,090 shares of the business services provider’s stock valued at $792,000 after buying an additional 17,724 shares in the last quarter. State Street Corp raised its position in shares of The Hackett Group by 7.1% during the 2nd quarter. State Street Corp now owns 475,348 shares of the business services provider’s stock valued at $7,368,000 after buying an additional 31,416 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of The Hackett Group by 23.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 74,610 shares of the business services provider’s stock valued at $1,157,000 after buying an additional 14,221 shares in the last quarter. Institutional investors and hedge funds own 76.42% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “The Hackett Group, Inc. (HCKT) Shares Sold by Public Employees Retirement System of Ohio” was first posted by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be viewed at https://transcriptdaily.com/2017/11/15/the-hackett-group-inc-hckt-shares-sold-by-public-employees-retirement-system-of-ohio.html.

Several analysts have recently issued reports on HCKT shares. Zacks Investment Research upgraded shares of The Hackett Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. BidaskClub cut shares of The Hackett Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. SunTrust Banks, Inc. restated a “buy” rating and set a $17.00 target price on shares of The Hackett Group in a research report on Friday, November 10th. Finally, Roth Capital upgraded shares of The Hackett Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $16.00 to $20.00 in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $18.33.

Shares of The Hackett Group, Inc. (HCKT) opened at $15.40 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.22. The stock has a market cap of $437.30, a PE ratio of 20.35, a PEG ratio of 1.27 and a beta of 0.81. The Hackett Group, Inc. has a 1 year low of $13.24 and a 1 year high of $20.69.

The Hackett Group (NASDAQ:HCKT) last announced its earnings results on Tuesday, November 7th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. The firm had revenue of $71.50 million for the quarter, compared to analysts’ expectations of $70.66 million. The Hackett Group had a net margin of 8.42% and a return on equity of 26.10%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. sell-side analysts anticipate that The Hackett Group, Inc. will post 0.8 earnings per share for the current fiscal year.

The company also recently declared a semiannual dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, December 21st. This represents a yield of 2.02%. The Hackett Group’s payout ratio is 40.00%.

The Hackett Group declared that its Board of Directors has approved a stock repurchase plan on Tuesday, August 8th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase up to 17% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

The Hackett Group Company Profile

The Hackett Group, Inc is an advisory and technology consulting company. The Company’s services include business transformation, enterprise performance management, working capital management and global business services. The Company is engaged in providing business and technology consulting services.

Want to see what other hedge funds are holding HCKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hackett Group, Inc. (NASDAQ:HCKT).

Institutional Ownership by Quarter for The Hackett Group (NASDAQ:HCKT)

Receive News & Ratings for The Hackett Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hackett Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply