California Public Employees Retirement System cut its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 5.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,900 shares of the business services provider’s stock after selling 3,400 shares during the period. California Public Employees Retirement System’s holdings in The Hackett Group were worth $1,187,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HCKT. Hosking Partners LLP increased its stake in shares of The Hackett Group by 8.4% in the first quarter. Hosking Partners LLP now owns 1,109,383 shares of the business services provider’s stock worth $21,622,000 after buying an additional 86,338 shares during the period. Acadian Asset Management LLC increased its stake in shares of The Hackett Group by 23.7% in the first quarter. Acadian Asset Management LLC now owns 874,967 shares of the business services provider’s stock worth $17,053,000 after buying an additional 167,388 shares during the period. Neumeier Poma Investment Counsel LLC increased its stake in shares of The Hackett Group by 15.1% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 715,425 shares of the business services provider’s stock worth $13,944,000 after buying an additional 94,025 shares during the period. Punch & Associates Investment Management Inc. increased its stake in shares of The Hackett Group by 7.4% in the first quarter. Punch & Associates Investment Management Inc. now owns 682,609 shares of the business services provider’s stock worth $13,304,000 after buying an additional 47,296 shares during the period. Finally, ClariVest Asset Management LLC increased its stake in shares of The Hackett Group by 17.2% in the first quarter. ClariVest Asset Management LLC now owns 463,315 shares of the business services provider’s stock worth $9,029,000 after buying an additional 67,898 shares during the period. 81.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of The Hackett Group, Inc. (NASDAQ HCKT) opened at 13.72 on Thursday. The Hackett Group, Inc. has a 12 month low of $13.24 and a 12 month high of $20.69. The firm has a market capitalization of $398.44 million, a PE ratio of 18.27 and a beta of 0.78. The stock has a 50 day moving average of $15.85 and a 200-day moving average of $17.19.

The Hackett Group (NASDAQ:HCKT) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by $0.02. The Hackett Group had a return on equity of 28.01% and a net margin of 8.42%. The business had revenue of $73.60 million during the quarter, compared to analysts’ expectations of $74.36 million. During the same quarter in the prior year, the firm earned $0.24 earnings per share. The Hackett Group’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities research analysts anticipate that The Hackett Group, Inc. will post $0.99 EPS for the current fiscal year.

The Hackett Group announced that its board has initiated a share buyback program on Monday, May 15th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the business services provider to buy up to 1.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

TRADEMARK VIOLATION WARNING: This piece of content was first reported by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another publication, it was illegally copied and republished in violation of United States and international copyright legislation. The legal version of this piece of content can be read at https://www.watchlistnews.com/california-public-employees-retirement-system-sells-3400-shares-of-the-hackett-group-inc-nasdaqhckt/1470462.html.

Several equities analysts have issued reports on HCKT shares. Roth Capital downgraded shares of The Hackett Group from a “buy” rating to a “neutral” rating and set a $20.00 price objective on the stock. in a report on Wednesday, May 10th. SunTrust Banks, Inc. started coverage on shares of The Hackett Group in a report on Thursday, June 15th. They set a “buy” rating and a $19.00 price objective on the stock. BidaskClub raised shares of The Hackett Group from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research downgraded shares of The Hackett Group from a “hold” rating to a “strong sell” rating in a report on Monday, May 15th. Finally, Craig Hallum downgraded shares of The Hackett Group from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a report on Wednesday, May 10th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The Hackett Group presently has a consensus rating of “Buy” and a consensus target price 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.

Want to see what other hedge funds are holding HCKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hackett Group, Inc. (NASDAQ:HCKT).

Institutional Ownership by Quarter for The Hackett Group (NASDAQ:HCKT)

Receive News & Ratings for The Hackett Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hackett Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.