Rhumbline Advisers Buys 107,157 Shares of The Hackett Group, Inc. $HCKT

Rhumbline Advisers grew its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 271.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 146,663 shares of the business services provider’s stock after purchasing an additional 107,157 shares during the quarter. Rhumbline Advisers’ holdings in The Hackett Group were worth $2,788,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in The Hackett Group by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 765,243 shares of the business services provider’s stock valued at $19,455,000 after buying an additional 18,196 shares during the last quarter. Boston Partners raised its stake in shares of The Hackett Group by 1.8% during the second quarter. Boston Partners now owns 533,948 shares of the business services provider’s stock valued at $13,305,000 after acquiring an additional 9,477 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of The Hackett Group by 9.6% during the second quarter. Russell Investments Group Ltd. now owns 272,911 shares of the business services provider’s stock worth $6,937,000 after purchasing an additional 23,878 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of The Hackett Group by 4.7% in the second quarter. Envestnet Asset Management Inc. now owns 245,418 shares of the business services provider’s stock worth $6,239,000 after purchasing an additional 10,948 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of The Hackett Group by 50.5% in the second quarter. Teacher Retirement System of Texas now owns 216,781 shares of the business services provider’s stock worth $5,511,000 after purchasing an additional 72,761 shares during the last quarter. 78.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Zacks Research cut The Hackett Group from a “hold” rating to a “strong sell” rating in a report on Friday, February 20th. Barrington Research dropped their price target on The Hackett Group from $27.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, February 18th. Weiss Ratings upgraded shares of The Hackett Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Finally, Roth Mkm set a $24.00 price objective on shares of The Hackett Group in a report on Wednesday, February 18th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, The Hackett Group presently has an average rating of “Hold” and a consensus price target of $20.50.

The Hackett Group Trading Up 3.6%

NASDAQ HCKT opened at $13.99 on Friday. The firm has a market capitalization of $379.56 million, a PE ratio of 29.77, a P/E/G ratio of 0.89 and a beta of 1.03. The stock’s 50 day moving average is $17.94 and its 200 day moving average is $18.93. The Hackett Group, Inc. has a twelve month low of $12.76 and a twelve month high of $30.99. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.43.

The Hackett Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Friday, March 20th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, March 20th. The Hackett Group’s payout ratio is 102.13%.

About The Hackett Group

The Hackett Group is a global strategic advisory firm specializing in business transformation, benchmarking and research. Leveraging a proprietary data repository and the Hackett Methodology®, the company helps organizations optimize performance across enterprise functions. Its advisory services span digital transformation, process optimization and operational excellence, enabling clients to identify best practices, streamline workflows and achieve sustainable cost savings.

Through detailed benchmarking studies and industry research, The Hackett Group delivers actionable insights into finance, procurement, human resources, information technology and supply chain management.