Short Interest in The Hackett Group, Inc. (NASDAQ:HCKT) Rises By 43.3%

The Hackett Group, Inc. (NASDAQ:HCKT) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 323,600 shares, an increase of 43.3% from the February 13th total of 225,800 shares. Based on an average trading volume of 105,200 shares, the days-to-cover ratio is currently 3.1 days. Approximately 1.3% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc raised its holdings in The Hackett Group by 353.1% in the 4th quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 738 shares during the last quarter. Quantbot Technologies LP raised its holdings in 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 acquiring an additional 2,174 shares during the last quarter. Longboard Asset Management LP acquired a new stake in The Hackett Group in the 4th quarter valued at about $207,000. ProShare Advisors LLC acquired a new stake in The Hackett Group in the 4th quarter valued at about $219,000. Finally, Arizona State Retirement System acquired a new stake in The Hackett Group in the 4th quarter valued at about $221,000. Institutional investors and hedge funds own 78.12% of the company’s stock.

The Hackett Group Price Performance

Shares of HCKT traded up $0.13 during mid-day trading on Monday, hitting $28.32. 94,146 shares of the company were exchanged, compared to its average volume of 102,699. The Hackett Group has a 1-year low of $20.23 and a 1-year high of $34.02. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.51 and a current ratio of 1.51. The company has a 50 day moving average of $30.36 and a 200-day moving average of $29.00. The stock has a market cap of $787.04 million, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03.

The Hackett Group (NASDAQ:HCKT) last released its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.06). The Hackett Group had a return on equity of 36.40% and a net margin of 9.44%. The company had revenue of $77.46 million for the quarter, compared to analyst estimates of $75.64 million. Analysts expect that The Hackett Group will post 1.43 EPS for the current fiscal year.

The Hackett Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Friday, March 21st. This is an increase from The Hackett Group’s previous quarterly dividend of $0.11. The Hackett Group’s dividend payout ratio is 45.28%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of The Hackett Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Barrington Research increased their target price on shares of The Hackett Group from $28.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

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.