Victory Capital Management Inc. Lowers Holdings in The Hackett Group, Inc. (NASDAQ:HCKT)

Victory Capital Management Inc. decreased its stake in The Hackett Group, Inc. (NASDAQ:HCKT) by 24.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,457 shares of the business services provider’s stock after selling 3,957 shares during the quarter. Victory Capital Management Inc.’s holdings in The Hackett Group were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc boosted its stake in shares of The Hackett Group by 353.1% in the fourth quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $29,000 after buying an additional 738 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of The Hackett Group by 383.4% in the third quarter. Quantbot Technologies LP now owns 2,741 shares of the business services provider’s stock worth $72,000 after buying an additional 2,174 shares during the last quarter. Longboard Asset Management LP purchased a new stake in shares of The Hackett Group in the fourth quarter worth about $207,000. Principal Financial Group Inc. purchased a new stake in shares of The Hackett Group in the fourth quarter worth about $248,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of The Hackett Group in the fourth quarter worth about $258,000. Hedge funds and other institutional investors own 78.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HCKT. StockNews.com downgraded The Hackett Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th. Barrington Research increased their price target on The Hackett Group from $28.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, The Hackett Group presently has a consensus rating of “Moderate Buy” and an average target price of $32.67.

The Hackett Group Stock Performance

Shares of HCKT stock opened at $28.53 on Friday. The company has a market capitalization of $792.88 million, a P/E ratio of 26.92, a P/E/G ratio of 1.53 and a beta of 1.03. The business’s 50 day moving average is $30.26 and its two-hundred day moving average is $29.05. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.18. The Hackett Group, Inc. has a 12-month low of $20.23 and a 12-month high of $34.02.

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

The Hackett Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, March 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.68%. This is a boost from The Hackett Group’s previous quarterly dividend of $0.11. The Hackett Group’s dividend payout ratio 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.