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

by · The Markets Daily

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Roth Capital cut shares of The Hackett Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Roth Mkm boosted their price objective 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. Barrington Research restated an “outperform” rating and issued a $28.00 price target on shares of The Hackett Group in a report on Tuesday, November 5th. Finally, Craig Hallum upped their price target on shares of The Hackett Group from $30.00 to $32.00 and gave the stock a “buy” rating in a report 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Get Our Latest Stock Analysis on HCKT

Institutional Trading of The Hackett Group

A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in The Hackett Group by 4.4% in the third quarter. Geode Capital Management LLC now owns 700,253 shares of the business services provider’s stock worth $18,399,000 after acquiring an additional 29,699 shares during the period. Barclays PLC lifted its stake in The Hackett Group by 202.1% in the third quarter. Barclays PLC now owns 56,350 shares of the business services provider’s stock worth $1,481,000 after acquiring an additional 37,695 shares during the period. Dean Investment Associates LLC lifted its stake in The Hackett Group by 57.2% in the third quarter. Dean Investment Associates LLC now owns 165,647 shares of the business services provider’s stock worth $4,352,000 after acquiring an additional 60,307 shares during the period. State Street Corp lifted its stake in The Hackett Group by 4.1% in the third quarter. State Street Corp now owns 641,783 shares of the business services provider’s stock worth $16,927,000 after acquiring an additional 25,249 shares during the period. Finally, Stifel Financial Corp lifted its stake in The Hackett Group by 18.0% in the third quarter. Stifel Financial Corp now owns 22,989 shares of the business services provider’s stock worth $604,000 after acquiring an additional 3,501 shares during the period. 78.12% of the stock is owned by hedge funds and other institutional investors.

The Hackett Group Trading Up 1.0 %

Shares of NASDAQ HCKT traded up $0.31 during mid-day trading on Monday, reaching $30.63. The company had a trading volume of 19,899 shares, compared to its average volume of 103,730. The business’s 50-day moving average is $26.46 and its 200-day moving average is $24.50. 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 stock has a market cap of $845.17 million, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 1.65 and a beta of 0.91. The Hackett Group has a 52 week low of $20.23 and a 52 week high of $32.34.

The Hackett Group Dividend Announcement

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

About The Hackett Group

(Get Free Report)

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.

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