Wedge Capital Management L L P NC cut its stake in shares of The Hackett Group Inc. (NASDAQ:HCKT) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,910 shares of the company’s stock after selling 4,024 shares during the period. Wedge Capital Management L L P NC’s holdings in The Hackett Group were worth $1,192,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of HCKT. Springbok Capital Management LLC raised its position in The Hackett Group by 626.7% in the first quarter. Springbok Capital Management LLC now owns 16,577 shares of the company’s stock valued at $251,000 after buying an additional 14,296 shares during the last quarter. Bank of Montreal Can acquired a new position in The Hackett Group during the second quarter valued at approximately $258,000. Lucus Advisors LLC acquired a new position in The Hackett Group during the second quarter valued at approximately $354,000. Strs Ohio raised its position in The Hackett Group by 8.4% in the second quarter. Strs Ohio now owns 46,500 shares of the company’s stock valued at $644,000 after buying an additional 3,600 shares during the last quarter. Finally, Hancock Holding Co. acquired a new position in The Hackett Group during the first quarter valued at approximately $861,000. 75.65% of the stock is owned by institutional investors and hedge funds.
Shares of The Hackett Group Inc. (NASDAQ:HCKT) traded down 0.67% on Tuesday, reaching $16.27. 110,774 shares of the company were exchanged. The company has a 50-day moving average price of $16.34 and a 200 day moving average price of $15.03. The Hackett Group Inc. has a 1-year low of $12.44 and a 1-year high of $20.02. The stock has a market capitalization of $464.62 million, a PE ratio of 31.90 and a beta of 0.96.
The Hackett Group (NASDAQ:HCKT) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. The Hackett Group had a net margin of 6.09% and a return on equity of 20.00%. The company earned $75.61 million during the quarter, compared to the consensus estimate of $72.08 million. During the same quarter in the prior year, the company posted $0.19 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, analysts forecast that The Hackett Group Inc. will post $0.90 EPS for the current fiscal year.
HCKT has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of The Hackett Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Barrington Research initiated coverage on shares of The Hackett Group in a research note on Monday. They issued an “outperform” rating and a $20.00 price target for the company.
About The Hackett Group
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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