Trigran Investments Inc. Reduces Stock Position in The Hackett Group, Inc. (NASDAQ:HCKT)

Trigran Investments Inc. decreased its holdings in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 18.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 877,554 shares of the business services provider’s stock after selling 201,283 shares during the quarter. The Hackett Group makes up approximately 3.1% of Trigran Investments Inc.’s portfolio, making the stock its 14th biggest position. Trigran Investments Inc.’s holdings in The Hackett Group were worth $26,958,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position 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 valued at $29,000 after purchasing an additional 738 shares during the period. Quantbot Technologies LP increased its holdings in shares of The Hackett Group by 52.5% in the 4th quarter. Quantbot Technologies LP now owns 4,180 shares of the business services provider’s stock valued at $128,000 after acquiring an additional 1,439 shares during the period. Longboard Asset Management LP purchased a new stake in The Hackett Group in the 4th quarter valued at $207,000. Arizona State Retirement System acquired a new stake in The Hackett Group during the 4th quarter worth $221,000. Finally, Principal Financial Group Inc. purchased a new position in The Hackett Group during the 4th quarter worth $248,000. 78.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $36.00 target price on shares of The Hackett Group in a report on Friday, April 11th. StockNews.com downgraded The Hackett Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.67.

The Hackett Group Stock Performance

Shares of HCKT stock opened at $25.86 on Friday. The company has a current ratio of 1.51, a quick 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 company has a market cap of $714.95 million, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 1.53 and a beta of 0.98. The stock has a 50 day simple moving average of $28.77 and a 200-day simple moving average of $29.27.

The Hackett Group (NASDAQ:HCKT) last released its earnings results on Tuesday, February 18th. The business services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.06). The Hackett Group had a net margin of 9.44% and a return on equity of 36.40%. The business had revenue of $77.46 million during the quarter, compared to analyst estimates of $75.64 million. On average, equities analysts forecast that The Hackett Group, Inc. will post 1.43 EPS for the current year.

The Hackett Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 21st. This is a boost 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 1.86%. The Hackett Group’s dividend payout ratio (DPR) is 45.28%.

About The Hackett Group

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.