Geode Capital Management LLC boosted its position in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 28.0% during the first quarter, Holdings Channel reports. The institutional investor owned 273,066 shares of the business services provider’s stock after buying an additional 59,692 shares during the period. Geode Capital Management LLC’s holdings in The Hackett Group were worth $5,321,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new stake in The Hackett Group during the first quarter worth about $125,000. Strs Ohio boosted its stake in The Hackett Group by 92.2% in the first quarter. Strs Ohio now owns 9,800 shares of the business services provider’s stock worth $191,000 after buying an additional 4,700 shares in the last quarter. TFS Capital LLC purchased a new stake in The Hackett Group during the first quarter worth about $211,000. Trexquant Investment LP purchased a new stake in The Hackett Group during the first quarter worth about $246,000. Finally, American International Group Inc. boosted its stake in The Hackett Group by 7.1% in the first quarter. American International Group Inc. now owns 13,827 shares of the business services provider’s stock worth $269,000 after buying an additional 918 shares in the last quarter. Institutional investors and hedge funds own 81.75% of the company’s stock.

Shares of The Hackett Group, Inc. (NASDAQ:HCKT) traded down 1.62% during mid-day trading on Friday, reaching $13.32. The company’s stock had a trading volume of 250,575 shares. The firm has a 50 day moving average price of $15.74 and a 200 day moving average price of $17.14. The firm has a market cap of $386.83 million, a price-to-earnings ratio of 17.74 and a beta of 0.78. The Hackett Group, Inc. has a 52-week low of $13.24 and a 52-week high of $20.69.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The Hackett Group had a net margin of 8.42% and a return on equity of 27.74%. The business had revenue of $73.60 million during the quarter, compared to the consensus estimate of $74.36 million. During the same quarter in the previous year, the business posted $0.24 EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts predict that The Hackett Group, Inc. will post $0.99 EPS for the current fiscal year.

The Hackett Group declared that its Board of Directors has approved a stock buyback program on Monday, May 15th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the business services provider to repurchase up to 1.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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A number of analysts have recently issued reports on the company. BidaskClub cut The Hackett Group from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Investment Research upgraded The Hackett Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 18th. SunTrust Banks, Inc. assumed coverage on The Hackett Group in a research report on Thursday, June 15th. They set a “buy” rating and a $19.00 price objective on the stock. Roth Capital cut The Hackett Group from a “buy” rating to a “neutral” rating and set a $20.00 price objective on the stock. in a research report on Wednesday, May 10th. Finally, Craig Hallum cut The Hackett Group from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $20.00.

The Hackett Group Company Profile

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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Institutional Ownership by Quarter for The Hackett Group (NASDAQ:HCKT)

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