Vestcor Inc Sells 6,000 Shares of The Hackett Group, Inc. (NASDAQ:HCKT)

Vestcor Inc reduced its position in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 66.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,072 shares of the business services provider’s stock after selling 6,000 shares during the period. Vestcor Inc’s holdings in The Hackett Group were worth $94,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in HCKT. Hotchkis & Wiley Capital Management LLC bought a new position in The Hackett Group during the 3rd quarter valued at about $3,256,000. Dean Investment Associates LLC lifted its holdings in The Hackett Group by 57.2% during the 3rd quarter. Dean Investment Associates LLC now owns 165,647 shares of the business services provider’s stock valued at $4,352,000 after purchasing an additional 60,307 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in The Hackett Group by 96.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 98,884 shares of the business services provider’s stock valued at $2,598,000 after purchasing an additional 48,661 shares during the last quarter. Barclays PLC lifted its holdings in The Hackett Group by 202.1% during the 3rd quarter. Barclays PLC now owns 56,350 shares of the business services provider’s stock valued at $1,481,000 after purchasing an additional 37,695 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in The Hackett Group in the 4th quarter valued at about $1,056,000. 78.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Barrington Research raised their price objective on shares of The Hackett Group from $28.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. StockNews.com cut shares of The Hackett Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The Hackett Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

The Hackett Group Stock Up 0.1 %

Shares of NASDAQ:HCKT opened at $28.36 on Wednesday. The Hackett Group, Inc. has a one year low of $20.23 and a one year high of $34.02. The company has a 50 day moving average of $30.31 and a 200-day moving average of $29.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market cap of $788.15 million, a price-to-earnings ratio of 26.75, a P/E/G ratio of 1.53 and a beta of 1.03.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.06). The Hackett Group had a return on equity of 36.40% and a net margin of 9.44%. The business had revenue of $77.46 million for the quarter, compared to analyst estimates of $75.64 million. On average, sell-side analysts forecast that The Hackett Group, Inc. will post 1.43 earnings per share for the current year.

The Hackett Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be paid a dividend of $0.12 per share. This is a positive change from The Hackett Group’s previous quarterly dividend of $0.11. The ex-dividend date is Friday, March 21st. This represents a $0.48 annualized dividend and a yield of 1.69%. The Hackett Group’s dividend payout ratio (DPR) is presently 45.28%.

The Hackett Group Profile

The Hackett Group, Inc operates as an intellectual property-based executive advisory, strategic consulting, and digital transformation company in the United States, Europe, and internationally. The company operates through three segments: Global Strategy & Business Transformation, Oracle Solutions, and SAP Solutions.