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

The Hackett Group, Inc. (NASDAQ:HCKT) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 233,500 shares, a decrease of 16.7% from the September 15th total of 280,400 shares. Based on an average trading volume of 121,400 shares, the short-interest ratio is presently 1.9 days. Currently, 0.9% of the shares of the stock are sold short.

The Hackett Group Price Performance

Shares of NASDAQ:HCKT traded up $0.07 on Monday, hitting $25.76. The company had a trading volume of 52,075 shares, compared to its average volume of 101,989. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.26. The Hackett Group has a 52-week low of $20.23 and a 52-week high of $27.68. The business has a 50 day moving average of $25.80 and a 200 day moving average of $23.75. The company has a market cap of $711.34 million, a PE ratio of 20.39, a PEG ratio of 1.42 and a beta of 0.91.

The Hackett Group (NASDAQ:HCKT) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The Hackett Group had a return on equity of 38.20% and a net margin of 11.46%. The company had revenue of $75.90 million during the quarter, compared to analyst estimates of $74.16 million. As a group, equities analysts anticipate that The Hackett Group will post 1.28 earnings per share for the current fiscal year.

The Hackett Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 20th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Friday, September 20th. The Hackett Group’s payout ratio is currently 34.92%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HCKT. Roth Capital lowered shares of The Hackett Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Barrington Research reissued an “outperform” rating and issued a $28.00 price objective on shares of The Hackett Group in a research note on Wednesday, September 25th.

Hedge Funds Weigh In On The Hackett Group

Hedge funds have recently modified their holdings of the company. CWM LLC lifted its position in shares of The Hackett Group by 8.4% in the 3rd quarter. CWM LLC now owns 5,061 shares of the business services provider’s stock worth $133,000 after acquiring an additional 394 shares during the period. Rhumbline Advisers grew its stake in The Hackett Group by 1.6% in the second quarter. Rhumbline Advisers now owns 38,946 shares of the business services provider’s stock valued at $846,000 after purchasing an additional 608 shares in the last quarter. Mackenzie Financial Corp lifted its stake in The Hackett Group by 5.2% in the 2nd quarter. Mackenzie Financial Corp now owns 15,034 shares of the business services provider’s stock valued at $327,000 after purchasing an additional 748 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of The Hackett Group by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 10,262 shares of the business services provider’s stock worth $223,000 after acquiring an additional 851 shares during the period. Finally, Sei Investments Co. raised its stake in The Hackett Group by 1.7% in the second quarter. Sei Investments Co. now owns 56,083 shares of the business services provider’s stock valued at $1,218,000 after purchasing an additional 941 shares in the last quarter. 78.12% of the stock is currently owned by institutional investors and hedge funds.

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.