American Century Companies Inc. Continues to Hold Holdings in The Hackett Group, Inc. (HCKT)
American Century Companies Inc. held its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,420 shares of the business services provider’s stock at the close of the second quarter. American Century Companies Inc. owned 0.09% of The Hackett Group worth $425,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of The Hackett Group in the 2nd quarter valued at approximately $116,000. Victory Capital Management Inc. grew its position in shares of The Hackett Group by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 7,522 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 1,127 shares during the period. Strs Ohio grew its position in shares of The Hackett Group by 92.2% in the 1st quarter. Strs Ohio now owns 9,800 shares of the business services provider’s stock valued at $191,000 after purchasing an additional 4,700 shares during the period. TFS Capital LLC acquired a new position in shares of The Hackett Group in the 1st quarter valued at approximately $211,000. Finally, Trexquant Investment LP acquired a new position in shares of The Hackett Group in the 1st quarter valued at approximately $246,000. Institutional investors and hedge funds own 81.51% of the company’s stock.
Shares of The Hackett Group, Inc. (NASDAQ HCKT) opened at 14.64 on Wednesday. The Hackett Group, Inc. has a 1-year low of $13.24 and a 1-year high of $20.69. The firm has a 50-day moving average price of $14.18 and a 200 day moving average price of $16.44. The company has a market cap of $422.64 million, a PE ratio of 19.49 and a beta of 0.88.
The Hackett Group (NASDAQ:HCKT) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). The Hackett Group had a return on equity of 27.74% and a net margin of 8.42%. The business had revenue of $73.60 million for the quarter, compared to analyst estimates of $74.36 million. During the same period in the prior year, the business earned $0.24 EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts anticipate that The Hackett Group, Inc. will post $0.97 earnings per share for the current year.
The Hackett Group announced that its board has approved a stock repurchase program on Tuesday, August 8th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the business services provider to reacquire up to 17% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Several equities analysts recently issued reports on HCKT shares. SunTrust Banks, Inc. started coverage on The Hackett Group in a research report on Thursday, June 15th. They issued a “buy” rating and a $19.00 price objective for the company. BidaskClub upgraded The Hackett Group from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research upgraded The Hackett Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.00.
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The Hackett Group 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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