The Hackett Group, Inc. (HCKT) Stake Lowered by ClariVest Asset Management LLC
ClariVest Asset Management LLC trimmed its position in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 42.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 266,500 shares of the business services provider’s stock after selling 198,859 shares during the period. ClariVest Asset Management LLC owned about 0.92% of The Hackett Group worth $4,049,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of The Hackett Group during the second quarter valued at about $116,000. Victory Capital Management Inc. raised its stake in The Hackett Group by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,522 shares of the business services provider’s stock worth $117,000 after buying an additional 1,127 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new position in The Hackett Group in the second quarter worth about $124,000. Frontier Wealth Management LLC bought a new position in The Hackett Group in the second quarter worth about $171,000. Finally, Voya Investment Management LLC bought a new position in The Hackett Group in the second quarter worth about $175,000. 77.53% of the stock is owned by hedge funds and other institutional investors.
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A number of research firms recently issued reports on HCKT. SunTrust Banks, Inc. reissued a “buy” rating and issued a $17.00 price target on shares of The Hackett Group in a research note on Friday, November 10th. Zacks Investment Research downgraded shares of The Hackett Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 15th. Roth Capital raised shares of The Hackett Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $16.00 to $20.00 in a research note on Thursday, November 9th. Finally, BidaskClub downgraded shares of The Hackett Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The Hackett Group currently has an average rating of “Hold” and a consensus price target of $18.33.
The Hackett Group, Inc. (HCKT) traded up $0.20 during mid-day trading on Monday, reaching $15.99. 136,200 shares of the company were exchanged, compared to its average volume of 160,696. The Hackett Group, Inc. has a 12 month low of $13.24 and a 12 month high of $20.69. The company has a market capitalization of $458.21, a P/E ratio of 21.32, a P/E/G ratio of 1.31 and a beta of 0.81. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.22.
The Hackett Group (NASDAQ:HCKT) last announced its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.01. The business had revenue of $71.50 million for the quarter, compared to analysts’ expectations of $70.66 million. The Hackett Group had a net margin of 8.42% and a return on equity of 26.10%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. equities research analysts anticipate that The Hackett Group, Inc. will post 0.81 earnings per share for the current year.
The firm also recently disclosed a semiannual dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be issued a $0.15 dividend. This represents a yield of 2.02%. The ex-dividend date of this dividend is Thursday, December 21st. The Hackett Group’s dividend payout ratio (DPR) is presently 40.00%.
The Hackett Group announced that its Board of Directors has authorized a share 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 buy up to 17% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.
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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