Belpointe Asset Management LLC Invests $54,000 in The Hackett Group, Inc. (NASDAQ:HCKT)

Belpointe Asset Management LLC acquired a new stake in The Hackett Group, Inc. (NASDAQ:HCKT – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,650 shares of the business services provider’s stock, valued at approximately $54,000.

Several other institutional investors and hedge funds have also bought and sold shares of HCKT. BlackRock Inc. raised its stake in shares of The Hackett Group by 6.2% in the third quarter. BlackRock Inc. now owns 2,671,764 shares of the business services provider’s stock valued at $47,344,000 after buying an additional 156,048 shares during the period. Allianz Asset Management GmbH purchased a new stake in The Hackett Group during the third quarter valued at about $2,522,000. Vanguard Group Inc. boosted its position in The Hackett Group by 6.8% during the third quarter. Vanguard Group Inc. now owns 1,798,064 shares of the business services provider’s stock worth $31,860,000 after purchasing an additional 114,068 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of The Hackett Group by 149.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 162,902 shares of the business services provider’s stock worth $3,757,000 after purchasing an additional 97,633 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of The Hackett Group by 274.8% in the third quarter. First Trust Advisors LP now owns 87,839 shares of the business services provider’s stock worth $1,557,000 after purchasing an additional 64,400 shares in the last quarter. 76.62% of the stock is owned by institutional investors.

The Hackett Group Stock Performance

NASDAQ:HCKT opened at $19.96 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market capitalization of $542.71 million, a price-to-earnings ratio of 15.94, a PEG ratio of 1.10 and a beta of 0.85. The business has a 50 day moving average of $18.48 and a 200 day moving average of $20.28. The Hackett Group, Inc. has a 1-year low of $17.10 and a 1-year high of $23.42.

The Hackett Group (NASDAQ:HCKT – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The business services provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The Hackett Group had a return on equity of 32.61% and a net margin of 13.29%. The business had revenue of $70.12 million during the quarter, compared to analyst estimates of $67.05 million. During the same quarter in the prior year, the company posted $0.26 EPS. On average, sell-side analysts predict that The Hackett Group, Inc. will post 1.35 earnings per share for the current fiscal year.

The Hackett Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 23rd will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, June 22nd. The Hackett Group’s dividend payout ratio is currently 35.20%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HCKT shares. StockNews.com assumed coverage on shares of The Hackett Group in a report on Thursday, May 18th. They issued a “buy” rating for the company. Barrington Research decreased their price target on shares of The Hackett Group from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, February 23rd. Finally, Craig Hallum lowered The Hackett Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $30.00 to $25.00 in a research note on Wednesday, February 22nd.

The Hackett Group Company Profile

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The Hackett Group, Inc engages in the provision of business and technology consulting services. The firm’s services include benchmarking, executive advisory, business transformation, enterprise performance management, training and advisory to global business services. It also produces digital transformation including robotic process automation and enterprise cloud application implementation.