Avantax Advisory Services Inc. Makes New $400,000 Investment in The Hackett Group, Inc. (NASDAQ:HCKT)

Avantax Advisory Services Inc. purchased a new stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,551 shares of the business services provider’s stock, valued at approximately $400,000. Avantax Advisory Services Inc. owned approximately 0.06% of The Hackett Group as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in The Hackett Group by 93.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 254,496 shares of the business services provider’s stock valued at $6,004,000 after purchasing an additional 123,182 shares in the last quarter. Aptus Capital Advisors LLC acquired a new stake in The Hackett Group in the third quarter valued at approximately $2,634,000. Envestnet Asset Management Inc. grew its position in The Hackett Group by 90.7% in the third quarter. Envestnet Asset Management Inc. now owns 227,061 shares of the business services provider’s stock worth $5,356,000 after acquiring an additional 107,963 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of The Hackett Group by 15.2% during the 3rd quarter. Wellington Management Group LLP now owns 576,042 shares of the business services provider’s stock worth $13,589,000 after purchasing an additional 76,000 shares during the last quarter. Finally, LSV Asset Management raised its holdings in shares of The Hackett Group by 74.4% during the 3rd quarter. LSV Asset Management now owns 142,800 shares of the business services provider’s stock valued at $3,369,000 after purchasing an additional 60,900 shares in the last quarter. 78.12% of the stock is owned by institutional investors and hedge funds.

The Hackett Group Trading Down 0.7 %

Shares of NASDAQ:HCKT opened at $21.35 on Friday. The Hackett Group, Inc. has a 52-week low of $19.09 and a 52-week high of $26.69. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $589.47 million, a P/E ratio of 16.94, a P/E/G ratio of 1.27 and a beta of 0.87. The stock’s 50-day moving average is $22.75 and its 200-day moving average is $22.98.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings results on Tuesday, February 20th. The business services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The Hackett Group had a return on equity of 40.62% and a net margin of 11.48%. The business had revenue of $71.17 million for the quarter, compared to analyst estimates of $69.65 million. Equities research analysts predict that The Hackett Group, Inc. will post 1.28 earnings per share for the current year.

The Hackett Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.06%. The ex-dividend date is Friday, June 21st. The Hackett Group’s payout ratio is currently 34.92%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Craig Hallum raised shares of The Hackett Group from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, February 21st. Barrington Research cut their price objective on The Hackett Group from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Finally, StockNews.com cut The Hackett Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 27th.

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.