The Hackett Group, Inc. (NASDAQ:HCKT) Sees Significant Increase in Short Interest

The Hackett Group, Inc. (NASDAQ:HCKT) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 234,600 shares, an increase of 5.8% from the December 15th total of 221,800 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily trading volume, of 97,000 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HCKT shares. Craig Hallum upped their price target on The Hackett Group from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barrington Research reaffirmed an “outperform” rating and set a $28.00 target price on shares of The Hackett Group in a research note on Tuesday, November 5th. Finally, Roth Mkm boosted their price target on shares of The Hackett Group from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, The Hackett Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc raised its position in The Hackett Group by 353.1% in the 4th quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 738 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in The Hackett Group in the third quarter worth approximately $54,000. Quantbot Technologies LP grew its holdings in The Hackett Group by 383.4% during the 3rd quarter. Quantbot Technologies LP now owns 2,741 shares of the business services provider’s stock worth $72,000 after acquiring an additional 2,174 shares in the last quarter. CWM LLC increased its position in shares of The Hackett Group by 8.4% in the 3rd quarter. CWM LLC now owns 5,061 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 394 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of The Hackett Group by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,262 shares of the business services provider’s stock valued at $223,000 after purchasing an additional 851 shares in the last quarter. 78.12% of the stock is owned by institutional investors and hedge funds.

The Hackett Group Trading Up 0.1 %

The Hackett Group stock traded up $0.03 during midday trading on Friday, reaching $30.17. 54,087 shares of the stock traded hands, compared to its average volume of 73,330. 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 firm has a market cap of $832.39 million, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99. The company has a 50-day simple moving average of $30.94 and a two-hundred day simple moving average of $27.38. The Hackett Group has a 12-month low of $20.23 and a 12-month high of $32.83.

The Hackett Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Friday, December 20th. The Hackett Group’s payout ratio is currently 36.07%.

About The Hackett Group

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.