Martingale Asset Management L P Sells 7,295 Shares of The Hackett Group, Inc. (NASDAQ:HCKT)

Martingale Asset Management L P lessened its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 14.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,789 shares of the business services provider’s stock after selling 7,295 shares during the quarter. Martingale Asset Management L P owned approximately 0.16% of The Hackett Group worth $1,124,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC boosted its position in The Hackett Group by 8.4% during the third quarter. CWM LLC now owns 5,061 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 394 shares in the last quarter. Rhumbline Advisers lifted its position in shares of The Hackett Group by 1.6% during the second quarter. Rhumbline Advisers now owns 38,946 shares of the business services provider’s stock valued at $846,000 after buying an additional 608 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of The Hackett Group by 5.2% in the 2nd quarter. Mackenzie Financial Corp now owns 15,034 shares of the business services provider’s stock valued at $327,000 after buying an additional 748 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of The Hackett Group by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,262 shares of the business services provider’s stock worth $223,000 after buying an additional 851 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of The Hackett Group by 1.7% during the 2nd quarter. Sei Investments Co. now owns 56,083 shares of the business services provider’s stock worth $1,218,000 after acquiring an additional 941 shares in the last quarter. Institutional investors own 78.12% of the company’s stock.

The Hackett Group Stock Performance

Shares of HCKT opened at $31.34 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a 50-day moving average of $27.49 and a two-hundred day moving average of $25.15. The stock has a market cap of $864.67 million, a P/E ratio of 25.69, a P/E/G ratio of 1.71 and a beta of 0.91. The Hackett Group, Inc. has a one year low of $20.23 and a one year high of $32.34.

The Hackett Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.44 dividend on an annualized basis and a yield of 1.40%. The Hackett Group’s dividend payout ratio is currently 36.07%.

Wall Street Analyst Weigh In

HCKT has been the subject of several recent analyst reports. Craig Hallum raised their target price on shares of The Hackett Group from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Roth Capital downgraded The Hackett Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Roth Mkm upped their target price on The Hackett Group from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Barrington Research reissued an “outperform” rating and issued a $28.00 price target on shares of The Hackett Group in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.00.

The Hackett Group Profile

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.