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

The Hackett Group, Inc. (NASDAQ:HCKT) was the recipient of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 209,100 shares, an increase of 9.6% from the October 31st total of 190,700 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average trading volume of 108,100 shares, the short-interest ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

HCKT has been the subject of a number of recent research reports. Roth Mkm increased their price objective on The Hackett Group from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Craig Hallum upped their target price on The Hackett Group from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Roth Capital cut The Hackett Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $28.00 price objective on shares of The Hackett Group in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC increased 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 buying an additional 167,453 shares during the period. Harbor Capital Advisors Inc. increased its stake in The Hackett Group by 150.2% in the third quarter. Harbor Capital Advisors Inc. now owns 251,489 shares of the business services provider’s stock valued at $6,607,000 after acquiring an additional 150,962 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in The Hackett Group in the third quarter worth about $3,256,000. Values First Advisors Inc. bought a new position in The Hackett Group during the second quarter worth about $1,799,000. Finally, Vanguard Group Inc. boosted its holdings in The Hackett Group by 3.2% during the first quarter. Vanguard Group Inc. now owns 1,995,053 shares of the business services provider’s stock valued at $48,480,000 after purchasing an additional 61,635 shares in the last quarter. Institutional investors own 78.12% of the company’s stock.

The Hackett Group Stock Up 0.7 %

Shares of HCKT traded up $0.22 during midday trading on Monday, reaching $31.56. 80,505 shares of the stock were exchanged, compared to its average volume of 102,994. The company has a market cap of $870.74 million, a price-to-earnings ratio of 25.87, a P/E/G ratio of 1.71 and a beta of 0.91. The company has a quick ratio of 1.51, a current 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 $32.34. The firm has a 50 day simple moving average of $27.60 and a 200-day simple moving average of $25.22.

The Hackett Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is 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.