Geode Capital Management LLC increased its position in The Hackett Group, Inc. (NASDAQ:HCKT) by 28.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund 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 owned approximately 0.94% of The Hackett Group worth $5,321,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. bought a new position in The Hackett Group during the first quarter worth $125,000. Strs Ohio boosted its position 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 during the period. TFS Capital LLC bought a new position in The Hackett Group during the first quarter worth $211,000. Trexquant Investment LP bought a new position in The Hackett Group during the first quarter worth $246,000. Finally, American International Group Inc. boosted its position 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 during the period. 81.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of The Hackett Group, Inc. (NASDAQ:HCKT) traded down 1.62% during midday trading on Friday, reaching $13.32. 250,575 shares of the company were exchanged. The firm’s 50 day moving average is $15.74 and its 200-day moving average is $17.14. The company has a market capitalization of $386.83 million, a PE 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 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The business had revenue of $73.60 million during the quarter, compared to the consensus estimate of $74.36 million. The Hackett Group had a return on equity of 27.74% and a net margin of 8.42%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 earnings per share. On average, equities analysts forecast that The Hackett Group, Inc. will post $0.99 earnings per share 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 allows the company to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 1.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

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A number of equities analysts have recently weighed in on the stock. Craig Hallum cut shares of The Hackett Group from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research note on Wednesday, May 10th. Zacks Investment Research raised shares of The Hackett Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 18th. BidaskClub raised shares of The Hackett Group from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. SunTrust Banks, Inc. assumed coverage on shares of The Hackett Group in a research note on Thursday, June 15th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Roth Capital cut shares of The Hackett Group from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a research note on Wednesday, May 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target 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.

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

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