The Hackett Group, Inc. (HCKT) Shares Sold by Globeflex Capital L P
Globeflex Capital L P lessened its holdings in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 4.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,160 shares of the business services provider’s stock after selling 5,100 shares during the period. Globeflex Capital L P owned about 0.34% of The Hackett Group worth $1,521,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Nordea Investment Management AB increased its holdings in The Hackett Group by 0.9% during the 2nd quarter. Nordea Investment Management AB now owns 236,300 shares of the business services provider’s stock valued at $3,663,000 after purchasing an additional 2,100 shares during the period. Vanguard Group Inc. increased its holdings in The Hackett Group by 10.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,789,845 shares of the business services provider’s stock valued at $27,743,000 after purchasing an additional 171,125 shares during the period. Northern Trust Corp increased its holdings in The Hackett Group by 10.4% during the 2nd quarter. Northern Trust Corp now owns 338,546 shares of the business services provider’s stock valued at $5,248,000 after purchasing an additional 31,865 shares during the period. New York State Common Retirement Fund increased its holdings in The Hackett Group by 30.1% during the 2nd quarter. New York State Common Retirement Fund now owns 28,500 shares of the business services provider’s stock valued at $442,000 after purchasing an additional 6,599 shares during the period. Finally, Laurion Capital Management LP purchased a new position in The Hackett Group during the 2nd quarter valued at about $208,000. Institutional investors own 81.51% of the company’s stock.
The Hackett Group, Inc. (NASDAQ HCKT) opened at 14.67 on Monday. The firm’s 50 day moving average price is $14.18 and its 200-day moving average price is $16.44. The stock has a market cap of $423.51 million, a P/E ratio of 19.53 and a beta of 0.88. The Hackett Group, Inc. has a 12-month low of $13.24 and a 12-month high of $20.69.
The Hackett Group (NASDAQ:HCKT) last issued its earnings results on Tuesday, August 8th. The business services provider reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The company had revenue of $73.60 million for the quarter, compared to analysts’ expectations of $74.36 million. The Hackett Group had a return on equity of 27.74% and a net margin of 8.42%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. Equities research analysts anticipate that The Hackett Group, Inc. will post $0.97 earnings per share for the current fiscal year.
The Hackett Group declared that its Board of Directors has approved a share buyback program on Tuesday, August 8th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the business services provider to repurchase up to 17% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.
HCKT has been the topic of a number of research analyst reports. BidaskClub downgraded The Hackett Group from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. SunTrust Banks, Inc. began coverage on The Hackett Group in a report on Thursday, June 15th. They set a “buy” rating and a $19.00 target price on the stock. Finally, Zacks Investment Research downgraded The Hackett Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. Two 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 company. The stock has an average rating of “Hold” and an average target price of $20.00.
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.
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