Greenwood Capital Associates LLC Has $477,000 Stake in The Hackett Group, Inc. (NASDAQ:HCKT)

Greenwood Capital Associates LLC lowered its stake in The Hackett Group, Inc. (NASDAQ:HCKT) by 2.5% in the third quarter, Holdings Channel reports. The fund owned 18,167 shares of the business services provider’s stock after selling 471 shares during the quarter. Greenwood Capital Associates LLC’s holdings in The Hackett Group were worth $477,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its stake in The Hackett Group by 150.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 251,489 shares of the business services provider’s stock valued at $6,607,000 after purchasing an additional 150,962 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of The Hackett Group by 6,302.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 16,518 shares of the business services provider’s stock valued at $434,000 after acquiring an additional 16,260 shares in the last quarter. Pinnacle Associates Ltd. grew its position in The Hackett Group by 47.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 136,674 shares of the business services provider’s stock worth $3,590,000 after acquiring an additional 43,775 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in The Hackett Group in the 3rd quarter worth about $54,000. Finally, CWC Advisors LLC. bought a new position in The Hackett Group in the third quarter valued at about $328,000. 78.12% of the stock is currently owned by institutional investors and hedge funds.

The Hackett Group Stock Performance

NASDAQ:HCKT opened at $28.62 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 1.71. The Hackett Group, Inc. has a fifty-two week low of $20.23 and a fifty-two week high of $28.68. The company has a 50 day simple moving average of $25.68 and a two-hundred day simple moving average of $24.00. The company has a market capitalization of $791.26 million, a PE ratio of 22.90, a P/E/G ratio of 1.35 and a beta of 0.91.

The Hackett Group (NASDAQ:HCKT) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The company had revenue of $75.90 million during the quarter, compared to analysts’ expectations of $74.16 million. The Hackett Group had a net margin of 11.46% and a return on equity of 38.20%. Research analysts anticipate that The Hackett Group, Inc. will post 1.28 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on HCKT. Craig Hallum boosted their price target on The Hackett Group from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday. Roth Mkm boosted their target price on shares of The Hackett Group from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday. Barrington Research reaffirmed an “outperform” rating and set a $28.00 price target on shares of The Hackett Group in a research note on Tuesday. Finally, Roth Capital cut shares of The Hackett Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.00.

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.