Short Interest in The Hackett Group, Inc. (NASDAQ:HCKT) Grows By 5.1%

The Hackett Group, Inc. (NASDAQ:HCKT) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 221,800 shares, an increase of 5.1% from the November 30th total of 211,000 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average trading volume of 98,800 shares, the days-to-cover ratio is presently 2.2 days.

The Hackett Group Price Performance

HCKT opened at $30.72 on Thursday. The company has a market capitalization of $847.66 million, a price-to-earnings ratio of 25.18, a PEG ratio of 1.73 and a beta of 1.00. 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 has a 12-month low of $20.23 and a 12-month high of $32.83. The business’s fifty day simple moving average is $30.12 and its 200-day simple moving average is $26.65.

The Hackett Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, December 20th. The Hackett Group’s payout ratio is 36.07%.

Institutional Investors Weigh In On The Hackett Group

Several large investors have recently modified their holdings of HCKT. Millennium Management LLC boosted its stake in shares of The Hackett Group by 293.2% during the second 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 in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in The Hackett Group by 150.2% during the third quarter. Harbor Capital Advisors Inc. now owns 251,489 shares of the business services provider’s stock worth $6,607,000 after buying an additional 150,962 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new stake in The Hackett Group during the 3rd quarter valued at $3,256,000. Dean Investment Associates LLC increased its holdings in shares of The Hackett Group by 57.2% in the 3rd quarter. Dean Investment Associates LLC now owns 165,647 shares of the business services provider’s stock valued at $4,352,000 after acquiring an additional 60,307 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of The Hackett Group by 96.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,884 shares of the business services provider’s stock worth $2,598,000 after acquiring an additional 48,661 shares in the last quarter. Institutional investors own 78.12% of the company’s stock.

Analysts Set New Price Targets

HCKT has been the topic of a number of recent analyst reports. Craig Hallum increased their target price on The Hackett Group from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Roth Mkm lifted their price objective on shares of The Hackett Group from $29.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Barrington Research reissued an “outperform” rating and issued a $28.00 price objective on shares of The Hackett Group in a research report 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 has a consensus rating of “Moderate Buy” and an average 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.