Bahl & Gaynor Inc. decreased its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 10.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 84,480 shares of the business services provider’s stock after selling 9,920 shares during the period. Bahl & Gaynor Inc. owned 0.29% of The Hackett Group worth $1,492,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Trigran Investments Inc. boosted its holdings in shares of The Hackett Group by 484.9% during the 2nd quarter. Trigran Investments Inc. now owns 641,337 shares of the business services provider’s stock worth $9,940,000 after buying an additional 531,681 shares during the period. Martingale Asset Management L P boosted its holdings in shares of The Hackett Group by 5.9% during the 2nd quarter. Martingale Asset Management L P now owns 109,343 shares of the business services provider’s stock worth $1,695,000 after buying an additional 6,099 shares during the period. LSV Asset Management bought a new stake in shares of The Hackett Group during the 2nd quarter worth about $412,000. Hosking Partners LLP boosted its holdings in shares of The Hackett Group by 1.7% during the 2nd quarter. Hosking Partners LLP now owns 1,128,030 shares of the business services provider’s stock worth $17,484,000 after buying an additional 18,647 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of The Hackett Group by 95.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 248,371 shares of the business services provider’s stock worth $3,850,000 after buying an additional 121,539 shares during the period. 81.51% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently commented on HCKT. BidaskClub downgraded shares of The Hackett Group from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. SunTrust Banks, Inc. began coverage on shares of The Hackett Group in a report on Thursday, June 15th. They set a “buy” rating and a $19.00 target price for the company. Finally, Zacks Investment Research downgraded shares of The Hackett Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The Hackett Group presently has an average rating of “Hold” and an average price target of $20.00.

Shares of The Hackett Group, Inc. (NASDAQ HCKT) opened at 14.61 on Friday. The company has a market cap of $421.78 million, a P/E ratio of 19.45 and a beta of 0.88. The Hackett Group, Inc. has a one year low of $13.24 and a one year high of $20.69. The company’s 50 day moving average is $14.28 and its 200 day moving average is $16.56.

The Hackett Group (NASDAQ:HCKT) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $73.60 million for the quarter, compared to analysts’ expectations of $74.36 million. During the same quarter last year, the business posted $0.24 EPS. The business’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities analysts predict that The Hackett Group, Inc. will post $0.97 earnings per share for the current year.

The Hackett Group announced that its board has initiated a share repurchase program on Tuesday, August 8th that authorizes the company to buyback $5.00 million in shares. This buyback authorization authorizes the business services provider to reacquire up to 17% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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

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