Allspring Global Investments Holdings LLC Buys 22,531 Shares of The Hackett Group, Inc. (NASDAQ:HCKT)

Allspring Global Investments Holdings LLC lifted its stake in The Hackett Group, Inc. (NASDAQ:HCKT) by 19.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,084 shares of the business services provider’s stock after acquiring an additional 22,531 shares during the period. Allspring Global Investments Holdings LLC owned 0.51% of The Hackett Group worth $3,404,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Halpern Financial Inc. bought a new stake in shares of The Hackett Group in the 4th quarter valued at about $29,000. AJOVista LLC purchased a new position in The Hackett Group in the fourth quarter worth $69,000. Hennessy Advisors Inc. acquired a new position in shares of The Hackett Group during the fourth quarter worth $110,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of The Hackett Group by 23.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,136 shares of the business services provider’s stock valued at $162,000 after purchasing an additional 1,351 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in The Hackett Group by 54.1% during the 4th quarter. SG Americas Securities LLC now owns 7,231 shares of the business services provider’s stock worth $165,000 after buying an additional 2,539 shares during the last quarter. 78.12% of the stock is currently owned by hedge funds and other institutional investors.

The Hackett Group Stock Performance

The Hackett Group stock traded up $0.18 during midday trading on Tuesday, hitting $21.73. 3,957 shares of the company were exchanged, compared to its average volume of 92,980. The Hackett Group, Inc. has a fifty-two week low of $20.23 and a fifty-two week high of $26.69. The firm has a market capitalization of $599.97 million, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.25 and a beta of 0.91. The business has a fifty day simple moving average of $21.86 and a two-hundred day simple moving average of $22.89. 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 Hackett Group (NASDAQ:HCKT) last posted its earnings results on Tuesday, May 7th. The business services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The Hackett Group had a net margin of 11.48% and a return on equity of 40.62%. The firm had revenue of $75.73 million during the quarter, compared to analysts’ expectations of $73.85 million. On average, sell-side analysts forecast that The Hackett Group, Inc. will post 1.28 earnings per share for the current year.

The Hackett Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, June 21st. The Hackett Group’s dividend payout ratio is currently 34.92%.

Analyst Ratings Changes

Separately, Barrington Research restated an “outperform” rating and set a $26.00 price target on shares of The Hackett Group in a research note on Tuesday, May 28th.

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.