Los Angeles Capital Management LLC Sells 16,688 Shares of The Hackett Group, Inc. (NASDAQ:HCKT)

Los Angeles Capital Management LLC trimmed its holdings in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 20.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,227 shares of the business services provider’s stock after selling 16,688 shares during the period. Los Angeles Capital Management LLC owned approximately 0.23% of The Hackett Group worth $1,373,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of The Hackett Group by 3.2% during the first quarter. Vanguard Group Inc. now owns 1,995,053 shares of the business services provider’s stock worth $48,480,000 after purchasing an additional 61,635 shares during the period. Earnest Partners LLC raised its position in shares of The Hackett Group by 13.1% during the first quarter. Earnest Partners LLC now owns 488,606 shares of the business services provider’s stock worth $11,873,000 after purchasing an additional 56,635 shares during the period. Wells Fargo & Company MN raised its position in shares of The Hackett Group by 1.5% during the fourth quarter. Wells Fargo & Company MN now owns 337,382 shares of the business services provider’s stock worth $7,682,000 after purchasing an additional 4,839 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of The Hackett Group by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 256,795 shares of the business services provider’s stock worth $5,847,000 after purchasing an additional 2,299 shares during the period. Finally, Bank of New York Mellon Corp raised 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 during the period. 78.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on HCKT shares. Barrington Research upped their target price on The Hackett Group from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Roth Capital lowered The Hackett Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th.

The Hackett Group Trading Down 0.8 %

NASDAQ HCKT opened at $25.13 on Thursday. The firm has a market capitalization of $693.94 million, a P/E ratio of 19.94, a PEG ratio of 1.41 and a beta of 0.91. The business has a fifty day simple moving average of $25.00 and a 200 day simple moving average of $23.55. The Hackett Group, Inc. has a 12 month low of $20.23 and a 12 month high of $27.68. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.26.

The Hackett Group (NASDAQ:HCKT) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. The business had revenue of $75.90 million during the quarter, compared to analyst estimates of $74.16 million. The Hackett Group had a return on equity of 38.20% and a net margin of 11.46%. On average, analysts predict that The Hackett Group, Inc. will post 1.28 EPS for the current fiscal year.

The Hackett Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, September 20th. The Hackett Group’s dividend payout ratio is presently 34.92%.

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.