The Hackett Group, Inc. (NASDAQ:HCKT) Shares Bought by Wesbanco Bank Inc.

Wesbanco Bank Inc. raised its stake in The Hackett Group, Inc. (NASDAQ:HCKT) by 51.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,700 shares of the business services provider’s stock after acquiring an additional 22,044 shares during the quarter. Wesbanco Bank Inc. owned approximately 0.23% of The Hackett Group worth $1,891,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings in shares of The Hackett Group by 48.9% in the first quarter. Versant Capital Management Inc now owns 1,410 shares of the business services provider’s stock worth $41,000 after acquiring an additional 463 shares during the last quarter. Quantbot Technologies LP raised its holdings in shares of The Hackett Group by 52.5% in the fourth quarter. Quantbot Technologies LP now owns 4,180 shares of the business services provider’s stock worth $128,000 after acquiring an additional 1,439 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of The Hackett Group in the fourth quarter worth $219,000. Arizona State Retirement System acquired a new position in shares of The Hackett Group in the fourth quarter worth $221,000. Finally, Principal Financial Group Inc. acquired a new position in shares of The Hackett Group in the fourth quarter worth $248,000. 78.12% of the stock is owned by institutional investors and hedge funds.

The Hackett Group Stock Performance

The Hackett Group stock opened at $24.91 on Tuesday. The firm has a market capitalization of $688.89 million, a P/E ratio of 23.50, a PEG ratio of 1.53 and a beta of 0.95. The stock has a fifty day moving average price of $25.57 and a 200 day moving average price of $28.76. The Hackett Group, Inc. has a 52 week low of $21.12 and a 52 week high of $34.02. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.18.

The Hackett Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Friday, June 20th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $0.48 annualized dividend and a yield of 1.93%. The Hackett Group’s payout ratio is currently 56.47%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wall Street Zen lowered The Hackett Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 24th. Barrington Research dropped their target price on The Hackett Group from $36.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.33.

The Hackett Group Company Profile

The Hackett Group, Inc operates as an intellectual property-based executive advisory, strategic consulting, and digital transformation company in the United States, Europe, and internationally. The company operates through three segments: Global Strategy & Business Transformation, Oracle Solutions, and SAP Solutions.