Wedge Capital Management L L P NC increased its stake in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 23.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,609 shares of the business services provider’s stock after buying an additional 18,536 shares during the period. Wedge Capital Management L L P NC’s holdings in The Hackett Group were worth $1,513,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HCKT. Eqis Capital Management Inc. boosted its position in shares of The Hackett Group by 88.0% in the first quarter. Eqis Capital Management Inc. now owns 26,764 shares of the business services provider’s stock valued at $522,000 after buying an additional 12,528 shares in the last quarter. Bowling Portfolio Management LLC bought a new position in shares of The Hackett Group during the first quarter valued at $841,000. Essex Investment Management Co. LLC boosted its position in shares of The Hackett Group by 11.6% in the first quarter. Essex Investment Management Co. LLC now owns 70,882 shares of the business services provider’s stock valued at $1,381,000 after buying an additional 7,391 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its position 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 valued at $13,304,000 after buying an additional 47,296 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of The Hackett Group by 19.4% in the first quarter. Russell Investments Group Ltd. now owns 215,675 shares of the business services provider’s stock valued at $4,204,000 after buying an additional 34,985 shares in the last quarter. Institutional investors own 82.04% of the company’s stock.

Shares of The Hackett Group, Inc. (NASDAQ HCKT) opened at 13.77 on Wednesday. The stock has a 50 day moving average price of $15.66 and a 200-day moving average price of $17.10. The stock has a market capitalization of $399.89 million, a PE ratio of 18.34 and a beta of 0.78. The Hackett Group, Inc. has a 52-week low of $13.24 and a 52-week high of $20.69.

The Hackett Group (NASDAQ:HCKT) last issued its earnings results on Tuesday, August 8th. The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $73.60 million for the quarter, compared to analysts’ expectations of $74.36 million. The Hackett Group had a return on equity of 27.74% and a net margin of 8.42%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the company posted $0.24 earnings per share. On average, equities research analysts anticipate that The Hackett Group, Inc. will post $0.98 EPS for the current fiscal year.

The Hackett Group declared that its Board of Directors has initiated a share repurchase 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 repurchase up to 1.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

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HCKT has been the subject of a number of recent analyst reports. Zacks Investment Research cut The Hackett Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. Roth Capital cut The Hackett Group from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research report on Wednesday, May 10th. Craig Hallum cut The Hackett Group from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research report on Wednesday, May 10th. SunTrust Banks, Inc. initiated coverage on The Hackett Group in a research report on Thursday, June 15th. They issued a “buy” rating and a $19.00 price objective for the company. Finally, BidaskClub cut The Hackett Group from a “hold” rating to a “sell” rating in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target 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.

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

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