Marshall Wace North America L.P. Acquires Shares of 236,300 The Hackett Group, Inc. (HCKT)
Marshall Wace North America L.P. acquired a new position in The Hackett Group, Inc. (NASDAQ:HCKT) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 236,300 shares of the business services provider’s stock, valued at approximately $3,781,000. Marshall Wace North America L.P. owned 0.81% of The Hackett Group at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of The Hackett Group during the second quarter worth about $116,000. Victory Capital Management Inc. acquired a new stake in shares of The Hackett Group during the first quarter worth about $125,000. Strs Ohio increased its stake in shares of The Hackett Group by 92.2% in the first quarter. Strs Ohio now owns 9,800 shares of the business services provider’s stock worth $191,000 after buying an additional 4,700 shares during the last quarter. TFS Capital LLC acquired a new stake in shares of The Hackett Group during the first quarter worth about $211,000. Finally, Trexquant Investment LP acquired a new stake in shares of The Hackett Group during the first quarter worth about $246,000. 81.53% of the stock is owned by hedge funds and other institutional investors.
The Hackett Group, Inc. (HCKT) opened at 13.66 on Friday. The firm has a 50-day moving average price of $15.00 and a 200 day moving average price of $16.85. The Hackett Group, Inc. has a 52-week low of $13.24 and a 52-week high of $20.69. The firm has a market capitalization of $394.35 million, a P/E ratio of 18.19 and a beta of 0.78.
The Hackett Group (NASDAQ:HCKT) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The Hackett Group had a return on equity of 27.74% and a net margin of 8.42%. The business had revenue of $73.60 million for the quarter, compared to analysts’ expectations of $74.36 million. During the same quarter last year, the company posted $0.24 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. Analysts forecast that The Hackett Group, Inc. will post $0.97 EPS for the current year.
The Hackett Group announced that its Board of Directors has approved a stock buyback program on Monday, May 15th that permits the company to buyback $5.00 million in shares. This buyback authorization permits the business services provider to repurchase up to 1.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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A number of brokerages recently issued reports on HCKT. Craig Hallum downgraded The Hackett Group from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research report on Wednesday, May 10th. Zacks Investment Research raised The Hackett Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 18th. BidaskClub raised The Hackett Group from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. SunTrust Banks, Inc. began coverage on The Hackett Group in a research report on Thursday, June 15th. They set a “buy” rating and a $19.00 price objective for the company. Finally, Roth Capital downgraded The Hackett Group from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research report on Wednesday, May 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The Hackett Group currently has a consensus rating of “Hold” and a consensus price target of $20.00.
About The Hackett Group
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.
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