OxFORD Asset Management LLP Has $758,000 Position in The Hackett Group, Inc. (HCKT)
OxFORD Asset Management LLP lifted its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 32.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,889 shares of the business services provider’s stock after purchasing an additional 11,922 shares during the quarter. OxFORD Asset Management LLP owned 0.17% of The Hackett Group worth $758,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in HCKT. Copper Rock Capital Partners LLC bought a new stake in shares of The Hackett Group during the 2nd quarter valued at $24,638,000. Trigran Investments Inc. raised its stake in shares of The Hackett Group by 484.9% during the 2nd quarter. Trigran Investments Inc. now owns 641,337 shares of the business services provider’s stock valued at $9,940,000 after purchasing an additional 531,681 shares during the period. Renaissance Technologies LLC raised its stake in shares of The Hackett Group by 68.7% during the 1st quarter. Renaissance Technologies LLC now owns 882,444 shares of the business services provider’s stock valued at $17,199,000 after purchasing an additional 359,300 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of The Hackett Group during the 2nd quarter valued at $3,781,000. Finally, Vanguard Group Inc. raised its stake in shares of The Hackett Group by 10.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,789,845 shares of the business services provider’s stock valued at $27,743,000 after purchasing an additional 171,125 shares during the period. Institutional investors own 81.54% of the company’s stock.
A number of research firms recently issued reports on HCKT. Zacks Investment Research upgraded The Hackett Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 18th. BidaskClub upgraded The Hackett Group from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $19.25.
The Hackett Group, Inc. (NASDAQ HCKT) opened at 15.45 on Monday. The firm has a 50-day moving average price of $14.61 and a 200-day moving average price of $15.93. The Hackett Group, Inc. has a 52 week low of $13.24 and a 52 week high of $20.69. The company has a market capitalization of $446.03 million, a price-to-earnings ratio of 20.57 and a beta of 0.86.
The Hackett Group (NASDAQ:HCKT) last issued its 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 return on equity of 27.74% and a net margin of 8.42%. The firm had revenue of $73.60 million during the quarter, compared to the consensus estimate of $74.36 million. During the same period last year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. Analysts anticipate that The Hackett Group, Inc. will post $0.97 EPS for the current fiscal year.
The Hackett Group announced that its Board of Directors has initiated a stock buyback program on Tuesday, August 8th that permits the company to repurchase $5.00 million in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 17% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
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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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