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

The Hackett Group, Inc. (NASDAQ:HCKT) was the target of a large decline in short interest in 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 shares of the company are sold short.

Institutional Investors Weigh In On The Hackett Group

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of The Hackett Group by 4.4% during the third quarter. Geode Capital Management LLC now owns 700,253 shares of the business services provider’s stock worth $18,399,000 after buying an additional 29,699 shares in the last quarter. Barclays PLC boosted its position in The Hackett Group by 202.1% during 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 last quarter. Dean Investment Associates LLC grew its stake in The Hackett Group by 57.2% during 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 in the last quarter. State Street Corp raised its holdings in The Hackett Group by 4.1% in the 3rd quarter. State Street Corp now owns 641,783 shares of the business services provider’s stock valued at $16,927,000 after acquiring an additional 25,249 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in The Hackett Group by 18.0% in the 3rd quarter. Stifel Financial Corp now owns 22,989 shares of the business services provider’s stock worth $604,000 after purchasing an additional 3,501 shares in the last quarter. 78.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

The Hackett Group Price Performance

Shares of HCKT stock traded down $0.49 during trading hours on Friday, hitting $30.32. 165,317 shares of the company’s stock were exchanged, compared to its average volume of 104,107. The Hackett Group has a fifty-two week low of $20.23 and a fifty-two week high of $32.34. The firm has a market cap of $836.53 million, a P/E ratio of 24.85, 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 firm has a 50 day moving average of $26.46 and a two-hundred day moving average of $24.47.

The Hackett Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Friday, December 20th. The Hackett Group’s dividend payout ratio is presently 36.07%.

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.