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

The Hackett Group, Inc. (NASDAQ:HCKT) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 190,700 shares, a drop of 15.5% from the October 15th total of 225,800 shares. Based on an average daily trading volume, of 113,400 shares, the short-interest ratio is currently 1.7 days. Currently, 0.8% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Isthmus Partners LLC grew its stake in The Hackett Group by 1.1% during the 2nd quarter. Isthmus Partners LLC now owns 164,195 shares of the business services provider’s stock worth $36,000 after buying an additional 1,763 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of The Hackett Group during the third quarter worth about $54,000. Quantbot Technologies LP increased its holdings in shares of The Hackett Group by 383.4% during the third 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 in the last quarter. CWM LLC raised its position in shares of The Hackett Group by 78.4% in the 2nd quarter. CWM LLC now owns 4,667 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 2,051 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in The Hackett Group by 18.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,419 shares of the business services provider’s stock worth $183,000 after purchasing an additional 1,283 shares in the last quarter. Institutional investors own 78.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Roth Capital lowered shares of The Hackett Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Craig Hallum lifted their price target on shares of The Hackett Group from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barrington Research reissued an “outperform” rating and issued a $28.00 price objective on shares of The Hackett Group in a research report on Tuesday, November 5th. Finally, Roth Mkm raised their price objective on shares of The Hackett Group from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

The Hackett Group Stock Down 1.6 %

HCKT stock traded down $0.49 during trading on Friday, hitting $30.32. 165,317 shares of the company’s stock traded hands, compared to its average volume of 104,107. The firm has a market capitalization of $836.53 million, a P/E ratio of 24.85, a PEG ratio of 1.71 and a beta of 0.91. The Hackett Group has a 1 year low of $20.23 and a 1 year high of $32.34. 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 business has a fifty day simple moving average of $26.46 and a two-hundred day simple moving average of $24.47.

The Hackett Group Dividend Announcement

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