The Hackett Group (NASDAQ:HCKT) Price Target Raised to $32.00

The Hackett Group (NASDAQ:HCKT) had its target price raised by Craig Hallum from $30.00 to $32.00 in a research report report published on Tuesday morning,Benzinga reports. Craig Hallum currently has a buy rating on the business services provider’s stock.

A number of other brokerages have also recently issued reports on HCKT. Barrington Research reaffirmed an “outperform” rating and issued a $28.00 target price on shares of The Hackett Group in a report on Wednesday, October 30th. Roth Capital downgraded shares of The Hackett Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, The Hackett Group presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

The Hackett Group Stock Down 1.5 %

The Hackett Group stock opened at $30.27 on Tuesday. The Hackett Group has a twelve month low of $20.23 and a twelve month high of $30.78. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $25.84 and a 200-day moving average of $24.09. The stock has a market capitalization of $836.97 million, a PE ratio of 24.81, a price-to-earnings-growth ratio of 1.36 and a beta of 0.91.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. The company had revenue of $75.90 million for the quarter, compared to analyst estimates of $74.16 million. The Hackett Group had a return on equity of 36.76% and a net margin of 11.05%. On average, equities research analysts anticipate that The Hackett Group will post 1.28 EPS for the current fiscal year.

The Hackett Group Announces Dividend

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

Hedge Funds Weigh In On The Hackett Group

Several hedge funds have recently bought and sold shares of HCKT. CWM LLC increased its stake in The Hackett Group by 8.4% in the third quarter. CWM LLC now owns 5,061 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 394 shares during the last quarter. Rhumbline Advisers increased its stake in shares of The Hackett Group by 1.6% in the 2nd 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 during the last quarter. Mackenzie Financial Corp lifted its position in shares of The Hackett Group by 5.2% during the 2nd quarter. Mackenzie Financial Corp now owns 15,034 shares of the business services provider’s stock worth $327,000 after buying an additional 748 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in The Hackett Group by 9.0% in the second quarter. The Manufacturers Life Insurance Company now owns 10,262 shares of the business services provider’s stock valued at $223,000 after acquiring an additional 851 shares during the last quarter. Finally, Sei Investments Co. raised its stake in The Hackett Group by 1.7% during the second quarter. Sei Investments Co. now owns 56,083 shares of the business services provider’s stock worth $1,218,000 after acquiring an additional 941 shares in the last quarter. 78.12% of the stock is owned by institutional investors.

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.