JPMorgan Chase & Co. grew its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 95.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 248,371 shares of the business services provider’s stock after acquiring an additional 121,539 shares during the period. JPMorgan Chase & Co. owned 0.85% of The Hackett Group worth $3,850,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. IndexIQ Advisors LLC purchased a new position in shares of The Hackett Group during the 2nd quarter valued at $376,000. Prudential Financial Inc. grew its holdings in shares of The Hackett Group by 12.1% during the 2nd quarter. Prudential Financial Inc. now owns 197,845 shares of the business services provider’s stock valued at $3,067,000 after acquiring an additional 21,312 shares in the last quarter. Stanley Laman Group Ltd. grew its holdings in shares of The Hackett Group by 18.0% during the 2nd quarter. Stanley Laman Group Ltd. now owns 26,613 shares of the business services provider’s stock valued at $413,000 after acquiring an additional 4,060 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of The Hackett Group by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 7,522 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 1,127 shares in the last quarter. Finally, Federated Investors Inc. PA grew its holdings in shares of The Hackett Group by 4.0% during the 2nd quarter. Federated Investors Inc. PA now owns 64,376 shares of the business services provider’s stock valued at $998,000 after acquiring an additional 2,484 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

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Several equities analysts have recently commented on HCKT shares. Zacks Investment Research upgraded shares of The Hackett Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 18th. BidaskClub upgraded shares of The Hackett Group from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Finally, SunTrust Banks, Inc. started coverage on shares of The Hackett Group in a report on Thursday, June 15th. They set a “buy” rating and a $19.00 price target on the stock. Two investment 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 an average target price of $19.25.

Shares of The Hackett Group, Inc. (HCKT) opened at 15.31 on Monday. The company has a 50 day moving average of $14.31 and a 200 day moving average of $16.09. The Hackett Group, Inc. has a 1-year low of $13.24 and a 1-year high of $20.69. The firm has a market cap of $441.98 million, a price-to-earnings ratio of 20.39 and a beta of 0.86.

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 analysts’ consensus estimates of $0.21 by ($0.02). The business had revenue of $73.60 million during the quarter, compared to the consensus estimate of $74.36 million. The Hackett Group had a net margin of 8.42% and a return on equity of 27.74%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. On average, equities analysts forecast that The Hackett Group, Inc. will post $0.97 earnings per share for the current fiscal year.

The Hackett Group declared that its board has authorized a share repurchase plan on Tuesday, August 8th that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the business services provider to reacquire up to 17% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.

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

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