Shares of The Hackett Group, Inc. (NASDAQ:HCKT) fell 13.4% on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $13.24 and last traded at $13.80, with a volume of 670,291 shares. The stock had previously closed at $15.93.

The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.02. The Hackett Group had a net margin of 8.60% and a return on equity of 28.73%. The business had revenue of $73.60 million for the quarter, compared to analyst estimates of $74.36 million. During the same period in the prior year, the business earned $0.24 EPS. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year.

The firm also recently declared a semiannual dividend, which was paid on Tuesday, July 11th. Shareholders of record on Friday, June 30th were issued a dividend of $0.15 per share. This is an increase from The Hackett Group’s previous semiannual dividend of $0.13. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a yield of 1.94%. The Hackett Group’s dividend payout ratio (DPR) is currently 38.96%.

The Hackett Group announced that its Board of Directors has initiated a stock repurchase plan 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 plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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

A number of large investors have recently made changes to their positions in HCKT. Alps Advisors Inc. increased its stake in shares of The Hackett Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 24,798 shares of the business services provider’s stock valued at $384,000 after buying an additional 64 shares in the last quarter. Bank of Montreal Can boosted its position in The Hackett Group by 2.0% in the first quarter. Bank of Montreal Can now owns 16,613 shares of the business services provider’s stock valued at $324,000 after buying an additional 330 shares during the last quarter. Bank of America Corp DE boosted its position in The Hackett Group by 0.5% in the first quarter. Bank of America Corp DE now owns 161,050 shares of the business services provider’s stock valued at $3,138,000 after buying an additional 750 shares during the last quarter. American International Group Inc. boosted its position in The Hackett Group by 7.1% in the first quarter. American International Group Inc. now owns 13,827 shares of the business services provider’s stock valued at $269,000 after buying an additional 918 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in The Hackett Group by 4.1% in the second quarter. Rhumbline Advisers now owns 26,472 shares of the business services provider’s stock valued at $410,000 after buying an additional 1,045 shares during the last quarter. 81.75% of the stock is owned by institutional investors and hedge funds.

The stock has a market cap of $403.22 million, a PE ratio of 17.92 and a beta of 0.78. The firm has a 50-day moving average of $15.86 and a 200-day moving average of $17.23.

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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.

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