The Hackett Group, Inc. (HCKT) Shares Bought by Millennium Management LLC

Millennium Management LLC increased its position in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 89.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 257,738 shares of the business services provider’s stock after acquiring an additional 121,988 shares during the period. Millennium Management LLC owned approximately 0.87% of The Hackett Group worth $4,142,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in HCKT. Renaissance Technologies LLC grew its holdings in The Hackett Group by 25.7% during the second quarter. Renaissance Technologies LLC now owns 1,051,044 shares of the business services provider’s stock worth $16,890,000 after acquiring an additional 214,900 shares during the period. Citadel Advisors LLC increased its stake in The Hackett Group by 60.6% in the 2nd quarter. Citadel Advisors LLC now owns 245,293 shares of the business services provider’s stock worth $3,941,000 after purchasing an additional 92,600 shares in the last quarter. Trigran Investments Inc. increased its stake in The Hackett Group by 6.3% in the 2nd quarter. Trigran Investments Inc. now owns 1,538,779 shares of the business services provider’s stock worth $24,729,000 after purchasing an additional 91,387 shares in the last quarter. BlackRock Inc. increased its stake in The Hackett Group by 3.8% in the 2nd quarter. BlackRock Inc. now owns 2,333,618 shares of the business services provider’s stock worth $37,500,000 after purchasing an additional 85,858 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in The Hackett Group by 23.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 293,300 shares of the business services provider’s stock worth $4,713,000 after purchasing an additional 56,500 shares in the last quarter. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on HCKT. ValuEngine raised The Hackett Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 9th. BidaskClub raised The Hackett Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 28th. SunTrust Banks reissued a “buy” rating and issued a $23.00 price target on shares of The Hackett Group in a research note on Thursday, August 9th. Barrington Research set a $22.00 price target on The Hackett Group and gave the stock a “buy” rating in a research note on Friday, October 5th. Finally, Zacks Investment Research cut The Hackett Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $20.75.

Shares of HCKT opened at $20.19 on Thursday. The stock has a market capitalization of $593.66 million, a P/E ratio of 26.57, a P/E/G ratio of 1.51 and a beta of 0.98. The Hackett Group, Inc. has a 1-year low of $14.55 and a 1-year high of $20.59. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.73 and a current ratio of 1.73.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings results on Tuesday, August 7th. The business services provider reported $0.27 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.27. The Hackett Group had a return on equity of 23.41% and a net margin of 11.62%. The firm had revenue of $75.65 million for the quarter, compared to analysts’ expectations of $75.04 million. As a group, equities analysts forecast that The Hackett Group, Inc. will post 0.89 EPS for the current year.

The Hackett Group Company Profile

The Hackett Group, Inc operates as a strategic advisory and technology consulting firm primarily in North America and European countries. Its executive advisory programs include best practice intelligence center, an online searchable repository of best practices, performance metrics, conference presentations, and associated research; best practice accelerators that provide Web based access to best practices, customized software configuration tools, and best practice process flows; advisor inquiry, an inquiry service used by clients for access to fact-based advice on proven approaches and methods; best practice research, a 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.

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

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