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

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc boosted its stake in The Hackett Group by 353.1% during the 4th quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $29,000 after acquiring an additional 738 shares during the last quarter. Quantbot Technologies LP lifted its stake in 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 valued at $72,000 after buying an additional 2,174 shares in the last quarter. Longboard Asset Management LP bought a new position in The Hackett Group in the fourth quarter valued at approximately $207,000. Arizona State Retirement System bought a new position in The Hackett Group in the fourth quarter valued at approximately $221,000. Finally, Principal Financial Group Inc. bought a new position in The Hackett Group in the fourth quarter valued at approximately $248,000. Institutional investors own 78.12% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of The Hackett Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 13th. Barrington Research lifted their price target on shares of The Hackett Group from $28.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, The Hackett Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

The Hackett Group Stock Performance

Shares of HCKT stock opened at $28.36 on Wednesday. The company’s fifty day simple moving average is $30.31 and its 200-day simple moving average is $29.02. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.18. The firm has a market cap of $788.15 million, a PE ratio of 26.75, a P/E/G ratio of 1.53 and a beta of 1.03. 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 announced its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.06). The business had revenue of $77.46 million during the quarter, compared to the consensus estimate of $75.64 million. The Hackett Group had a return on equity of 36.40% and a net margin of 9.44%. Equities research analysts expect that The Hackett Group, Inc. will post 1.43 EPS for the current fiscal year.

The Hackett Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Friday, March 21st. This is a positive change from The Hackett Group’s previous quarterly dividend of $0.11. The Hackett Group’s payout ratio is currently 45.28%.

About The Hackett Group

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.