Short Interest in The Hackett Group, Inc. (NASDAQ:HCKT) Grows By 5.1%

The Hackett Group, Inc. (NASDAQ:HCKT) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 221,800 shares, a growth of 5.1% from the November 30th total of 211,000 shares. Based on an average daily trading volume, of 98,800 shares, the days-to-cover ratio is presently 2.2 days. Approximately 0.9% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HCKT. Millennium Management LLC grew its holdings in The Hackett Group by 293.2% during the second quarter. Millennium Management LLC now owns 224,567 shares of the business services provider’s stock worth $4,878,000 after acquiring an additional 167,453 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of The Hackett Group by 150.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 251,489 shares of the business services provider’s stock worth $6,607,000 after purchasing an additional 150,962 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of The Hackett Group during the 3rd quarter worth $3,256,000. Dean Investment Associates LLC increased its holdings in shares of The Hackett Group by 57.2% in 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 purchasing an additional 60,307 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of The Hackett Group by 96.9% in the third quarter. JPMorgan Chase & Co. now owns 98,884 shares of the business services provider’s stock valued at $2,598,000 after purchasing an additional 48,661 shares during the period. Institutional investors and hedge funds own 78.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Roth Mkm raised their price target on shares of The Hackett Group from $29.00 to $30.00 and gave the stock a “buy” rating 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, Barrington Research restated an “outperform” rating and set a $28.00 price target on shares of The Hackett Group in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, The Hackett Group currently has an average rating of “Moderate Buy” and an average price target of $30.00.

The Hackett Group Price Performance

The Hackett Group stock opened at $30.28 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.18. The company has a fifty day simple moving average of $30.22 and a 200-day simple moving average of $26.68. The stock has a market cap of $835.52 million, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 1.73 and a beta of 1.00. The Hackett Group has a 12-month low of $20.23 and a 12-month high of $32.83.

The Hackett Group Dividend Announcement

The firm also recently disclosed 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 yield of 1.45%. The ex-dividend date is Friday, December 20th. The Hackett Group’s payout ratio is currently 36.07%.

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.