Short Interest in The Hackett Group, Inc. (NASDAQ:HCKT) Rises By 5.8%

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

Institutional Trading of The Hackett Group

Several hedge funds and other institutional investors have recently modified their holdings of HCKT. Geode Capital Management LLC increased its position in shares of The Hackett Group by 4.4% during the third quarter. Geode Capital Management LLC now owns 700,253 shares of the business services provider’s stock valued at $18,399,000 after buying an additional 29,699 shares during the period. State Street Corp grew its stake in The Hackett Group by 4.1% during the third quarter. State Street Corp now owns 641,783 shares of the business services provider’s stock valued at $16,927,000 after acquiring an additional 25,249 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in The Hackett Group by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 266,317 shares of the business services provider’s stock worth $6,996,000 after acquiring an additional 1,350 shares during the period. Harbor Capital Advisors Inc. lifted its stake in The Hackett Group by 1.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 255,183 shares of the business services provider’s stock worth $7,839,000 after purchasing an additional 3,694 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in The Hackett Group by 293.2% in the 2nd quarter. Millennium Management LLC now owns 224,567 shares of the business services provider’s stock valued at $4,878,000 after purchasing an additional 167,453 shares during the period. Institutional investors own 78.12% of the company’s stock.

The Hackett Group Price Performance

Shares of NASDAQ:HCKT opened at $30.88 on Monday. The Hackett Group has a fifty-two week low of $20.23 and a fifty-two week high of $32.83. The company’s 50-day moving average is $30.89 and its 200 day moving average is $27.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.51 and a current ratio of 1.51. The company has a market capitalization of $852.07 million, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99.

Analysts Set New Price Targets

Several research firms have recently weighed in on HCKT. Craig Hallum lifted their price objective on The Hackett Group from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Roth Mkm lifted their target price on The Hackett Group from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Barrington Research reissued an “outperform” rating and issued a $28.00 price target on shares of The Hackett Group in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.00.

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.