State Board of Administration of Florida Retirement System Has $1.87 Million Stock Holdings in The Hackett Group, Inc. (NASDAQ:HCKT)

Posted by Defense World Staff on Sep 20th, 2023

State Board of Administration of Florida Retirement System boosted its holdings in shares of The Hackett Group, Inc. (NASDAQ:HCKT – Free Report) by 13.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,266 shares of the business services provider’s stock after buying an additional 11,681 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.37% of The Hackett Group worth $1,871,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of HCKT. Dorsey Wright & Associates acquired a new position in The Hackett Group during the fourth quarter worth $27,000. Quarry LP purchased a new stake in shares of The Hackett Group in the first quarter valued at about $36,000. Belpointe Asset Management LLC purchased a new stake in shares of The Hackett Group in the fourth quarter valued at about $54,000. Point72 Middle East FZE purchased a new stake in shares of The Hackett Group in the fourth quarter valued at about $65,000. Finally, AXS Investments LLC purchased a new stake in shares of The Hackett Group in the fourth quarter valued at about $66,000. Institutional investors and hedge funds own 81.69% of the company’s stock.

The Hackett Group Price Performance

HCKT opened at $23.46 on Wednesday. The firm has a market cap of $638.58 million, a P/E ratio of 18.77, a PEG ratio of 1.40 and a beta of 0.85. The firm has a 50-day moving average of $23.41 and a 200 day moving average of $20.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 1.64. The Hackett Group, Inc. has a fifty-two week low of $17.10 and a fifty-two week high of $24.82.

The Hackett Group (NASDAQ:HCKT – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.03). The company had revenue of $75.64 million for the quarter, compared to the consensus estimate of $72.90 million. The Hackett Group had a net margin of 12.73% and a return on equity of 38.35%. On average, research analysts expect that The Hackett Group, Inc. will post 1.26 EPS for the current year.

The Hackett Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, September 21st. This represents a $0.44 dividend on an annualized basis and a yield of 1.88%. The Hackett Group’s dividend payout ratio is presently 35.20%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barrington Research increased their target price on shares of The Hackett Group from $24.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th. StockNews.com downgraded shares of The Hackett Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 2nd.

Check Out Our Latest Stock Report on The Hackett Group

The Hackett Group Company Profile

(Free Report)

The Hackett Group, Inc operates as a strategic advisory and technology consulting firm primarily in the United States, Europe, and internationally. The company operates through three segments: Global Strategy & Business Transformation, Oracle Solutions, and SAP Solutions. It offers Hackett Connect, an online searchable repository; best practice accelerators that provide web-based access to best practices, customized software configuration tools, and best practice process flows; advisor inquiry for access to fact-based advice on proven approaches and methods; best practice research that provides insights into the proven approaches; and peer interaction comprising member-led webcasts, annual best practice conferences, annual member forums, membership performance surveys, and client-submitted content, as well as intellectual property as-a-service and Hackett Institute programs.