Hillsdale Investment Management Inc. continued to hold its position in shares of The Hackett Group, Inc. (NASDAQ:HCKT) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,400 shares of the business services provider’s stock at the end of the 2nd quarter. Hillsdale Investment Management Inc. owned about 0.17% of The Hackett Group worth $750,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in HCKT. Victory Capital Management Inc. bought a new position in The Hackett Group in the first quarter worth about $125,000. SG Americas Securities LLC purchased a new stake in shares of The Hackett Group during the second quarter worth about $116,000. Strs Ohio grew its stake in shares of The Hackett Group by 92.2% during the first quarter. Strs Ohio now owns 9,800 shares of the business services provider’s stock worth $191,000 after acquiring an additional 4,700 shares during the last quarter. Voya Investment Management LLC purchased a new stake in shares of The Hackett Group during the second quarter worth about $175,000. Finally, Trexquant Investment LP purchased a new stake in shares of The Hackett Group during the first quarter worth about $246,000. Hedge funds and other institutional investors own 81.51% of the company’s stock.

A number of equities research analysts have recently weighed in on HCKT shares. SunTrust Banks, Inc. initiated coverage on The Hackett Group in a research note on Thursday, June 15th. They set a “buy” rating and a $19.00 price target on the stock. Zacks Investment Research raised The Hackett Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, BidaskClub raised The Hackett Group from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $20.00.

The Hackett Group, Inc. (HCKT) opened at 15.19 on Friday. The stock’s 50 day moving average price is $14.18 and its 200-day moving average price is $16.44. The Hackett Group, Inc. has a 12-month low of $13.24 and a 12-month high of $20.69. The stock has a market capitalization of $438.52 million, a PE ratio of 20.23 and a beta of 0.88.

The Hackett Group (NASDAQ:HCKT) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The Hackett Group had a net margin of 8.42% and a return on equity of 27.74%. The firm had revenue of $73.60 million for the quarter, compared to analysts’ expectations of $74.36 million. During the same period last year, the firm posted $0.24 EPS. The Hackett Group’s revenue was down 2.6% on a year-over-year basis. Analysts expect that The Hackett Group, Inc. will post $0.97 earnings per share for the current year.

The Hackett Group declared that its board has approved a stock buyback program on Tuesday, August 8th that allows the company to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 17% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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The Hackett Group 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.

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

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