The Hackett Group, Inc. (NASDAQ:HCKT) Short Interest Down 15.5% in October

The Hackett Group, Inc. (NASDAQ:HCKT) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 190,700 shares, a decrease of 15.5% from the October 15th total of 225,800 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average trading volume of 113,400 shares, the days-to-cover ratio is presently 1.7 days.

Hedge Funds Weigh In On The Hackett Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Isthmus Partners LLC raised its position in shares of The Hackett Group by 1.1% in the 2nd quarter. Isthmus Partners LLC now owns 164,195 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 1,763 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in shares of The Hackett Group in the 3rd quarter valued at approximately $54,000. Quantbot Technologies LP raised its position in shares of The Hackett Group by 383.4% in the 3rd quarter. Quantbot Technologies LP now owns 2,741 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 2,174 shares during the last quarter. CWM LLC raised its position in shares of The Hackett Group by 78.4% in the 2nd quarter. CWM LLC now owns 4,667 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 2,051 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of The Hackett Group by 18.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,419 shares of the business services provider’s stock valued at $183,000 after purchasing an additional 1,283 shares during the last quarter. 78.12% of the stock is owned by hedge funds and other institutional investors.

The Hackett Group Stock Up 1.0 %

Shares of HCKT stock traded up $0.31 during mid-day trading on Monday, hitting $30.63. 19,899 shares of the stock traded hands, compared to its average volume of 103,730. The stock has a market cap of $845.17 million, a P/E ratio of 24.85, a P/E/G ratio of 1.65 and a beta of 0.91. The stock’s fifty day moving average is $26.46 and its two-hundred day moving average is $24.50. The Hackett Group has a 52-week low of $20.23 and a 52-week high of $32.34. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.51 and a quick ratio of 1.51.

The Hackett Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, December 20th. The Hackett Group’s payout ratio is currently 36.07%.

Analyst Upgrades and Downgrades

Several research firms have commented on HCKT. Craig Hallum increased their price target on shares of The Hackett Group from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Roth Capital lowered shares of The Hackett Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Roth Mkm increased 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 report on Tuesday, November 5th. Finally, Barrington Research reissued an “outperform” rating and set a $28.00 price target on shares of The Hackett Group in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

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.