Millennium Management LLC Has $4.88 Million Stock Holdings in The Hackett Group, Inc. (NASDAQ:HCKT)

Millennium Management LLC lifted its holdings in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 293.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,567 shares of the business services provider’s stock after buying an additional 167,453 shares during the quarter. Millennium Management LLC owned about 0.81% of The Hackett Group worth $4,878,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of The Hackett Group by 3.2% during the first quarter. Vanguard Group Inc. now owns 1,995,053 shares of the business services provider’s stock worth $48,480,000 after acquiring an additional 61,635 shares in the last quarter. Renaissance Technologies LLC raised its stake in The Hackett Group by 0.6% in the second quarter. Renaissance Technologies LLC now owns 1,053,446 shares of the business services provider’s stock valued at $22,881,000 after buying an additional 6,600 shares during the period. Earnest Partners LLC raised its position in shares of The Hackett Group by 13.1% in the first quarter. Earnest Partners LLC now owns 488,606 shares of the business services provider’s stock valued at $11,873,000 after purchasing an additional 56,635 shares during the period. Bank of New York Mellon Corp raised its holdings in The Hackett Group by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 244,516 shares of the business services provider’s stock valued at $5,311,000 after acquiring an additional 10,725 shares during the period. Finally, Isthmus Partners LLC boosted its stake in The Hackett Group by 1.1% in the 2nd quarter. Isthmus Partners LLC now owns 164,195 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 1,763 shares during the period. Institutional investors own 78.12% of the company’s stock.

The Hackett Group Trading Up 1.5 %

NASDAQ HCKT opened at $25.69 on Friday. The business’s 50-day moving average price is $25.80 and its two-hundred day moving average price is $23.76. The Hackett Group, Inc. has a 12 month low of $20.23 and a 12 month high of $27.68. The firm has a market capitalization of $709.40 million, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.42 and a beta of 0.91. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.26.

The Hackett Group (NASDAQ:HCKT) last announced its earnings results on Tuesday, August 6th. The business services provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The Hackett Group had a return on equity of 38.20% and a net margin of 11.46%. The company had revenue of $75.90 million for the quarter, compared to analyst estimates of $74.16 million. On average, analysts expect that The Hackett Group, Inc. will post 1.28 EPS for the current year.

The Hackett Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 20th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Friday, September 20th. The Hackett Group’s dividend payout ratio (DPR) is currently 34.92%.

Analysts Set New Price Targets

Several brokerages have weighed in on HCKT. Roth Capital cut The Hackett Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Barrington Research restated an “outperform” rating and set a $28.00 price objective on shares of The Hackett Group in a research report on Wednesday, September 25th.

About The Hackett Group

The Hackett Group, Inc operates as an intellectual property-based executive advisory, strategic consulting, and digital transformation company in the United States, Europe, and internationally. The company operates through three segments: Global Strategy & Business Transformation, Oracle Solutions, and SAP Solutions.