Zacks Investment Research cut shares of The Hackett Group, Inc. (NASDAQ:HCKT) from a buy rating to a hold rating in a research report released on Tuesday.

According to Zacks, “The Hackett Group, a global strategic advisory firm and an Answerthink company, is a leader in best practice research and advisory programs, benchmarking and transformation consulting services, including shared services, offshoring and outsourcing advice. Utilizing best practices and implementation insight from more than 4,000 benchmarking studies, executives use Hackett’s empirically based approach to quickly define and prioritize initiatives, and to leverage proven strategies that enable world-class performance. “

Separately, Barrington Research started coverage on The Hackett Group in a research note on Monday, October 17th. They issued an outperform rating and a $20.00 price target on the stock.

Shares of The Hackett Group (NASDAQ:HCKT) traded up 0.06% during midday trading on Tuesday, reaching $17.20. The company had a trading volume of 102,503 shares. The firm has a market capitalization of $491.11 million, a price-to-earnings ratio of 29.81 and a beta of 1.00. The Hackett Group has a 12-month low of $12.44 and a 12-month high of $18.35. The company has a 50 day moving average of $17.71 and a 200 day moving average of $15.99.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The company had revenue of $74.12 million for the quarter, compared to analysts’ expectations of $73.10 million. The Hackett Group had a return on equity of 23.77% and a net margin of 6.80%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share. Analysts anticipate that The Hackett Group will post $0.92 EPS for the current year.

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The company also recently declared a semiannual dividend, which was paid on Thursday, January 5th. Investors of record on Thursday, December 22nd were paid a $0.13 dividend. The ex-dividend date was Tuesday, December 20th. This represents a yield of 1.63%. The Hackett Group’s payout ratio is 44.07%.

Several large investors have recently added to or reduced their stakes in HCKT. Smith Asset Management Group LP boosted its stake in The Hackett Group by 170.1% in the second quarter. Smith Asset Management Group LP now owns 214,057 shares of the company’s stock worth $2,969,000 after buying an additional 134,807 shares in the last quarter. Lucus Advisors LLC bought a new stake in The Hackett Group during the second quarter worth approximately $354,000. ClariVest Asset Management LLC boosted its stake in The Hackett Group by 3.7% in the second quarter. ClariVest Asset Management LLC now owns 312,356 shares of the company’s stock worth $4,332,000 after buying an additional 11,220 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in The Hackett Group by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 237,136 shares of the company’s stock worth $3,289,000 after buying an additional 12,451 shares in the last quarter. Finally, Swiss National Bank boosted its stake in The Hackett Group by 6.4% in the second quarter. Swiss National Bank now owns 40,192 shares of the company’s stock worth $557,000 after buying an additional 2,400 shares in the last quarter. 75.86% of the stock is currently owned by hedge funds and other institutional investors.

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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