Neumeier Poma Investment Counsel LLC lowered its stake in The Hackett Group, Inc. (NASDAQ:HCKT) by 3.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 687,900 shares of the business services provider’s stock after selling 27,525 shares during the period. Neumeier Poma Investment Counsel LLC owned approximately 2.35% of The Hackett Group worth $10,662,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in HCKT. Copper Rock Capital Partners LLC acquired a new position in The Hackett Group in the 2nd quarter valued at about $24,638,000. Trigran Investments Inc. grew its stake in The Hackett Group by 484.9% in the 2nd quarter. Trigran Investments Inc. now owns 641,337 shares of the business services provider’s stock valued at $9,940,000 after buying an additional 531,681 shares during the last quarter. Renaissance Technologies LLC grew its stake in The Hackett Group by 68.7% in the 1st quarter. Renaissance Technologies LLC now owns 882,444 shares of the business services provider’s stock valued at $17,199,000 after buying an additional 359,300 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in The Hackett Group in the 2nd quarter valued at about $3,781,000. Finally, Vanguard Group Inc. grew its stake in The Hackett Group by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 1,618,720 shares of the business services provider’s stock valued at $31,549,000 after buying an additional 131,226 shares during the last quarter. Institutional investors and hedge funds own 81.51% of the company’s stock.
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Shares of The Hackett Group, Inc. (HCKT) traded up 1.18% on Friday, hitting $14.61. 305,509 shares of the company’s stock were exchanged. The firm has a market cap of $421.78 million, a P/E ratio of 19.45 and a beta of 0.88. The stock’s 50 day moving average is $14.28 and its 200 day moving average is $16.56. The Hackett Group, Inc. has a 12 month low of $13.24 and a 12 month high of $20.69.
The Hackett Group (NASDAQ:HCKT) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.02). The business had revenue of $73.60 million during the quarter, compared to analysts’ expectations of $74.36 million. The Hackett Group had a return on equity of 27.74% and a net margin of 8.42%. The Hackett Group’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. On average, equities analysts predict that The Hackett Group, Inc. will post $0.97 earnings per share for the current year.
The Hackett Group declared that its board has authorized a stock repurchase program on Tuesday, August 8th that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the business services provider to buy up to 17% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of The Hackett Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 18th. BidaskClub upgraded shares of The Hackett Group from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Finally, SunTrust Banks, Inc. assumed coverage on shares of The Hackett Group in a research report on Thursday, June 15th. They set a “buy” rating and a $19.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus 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.
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