The Hackett Group, Inc. (NASDAQ:HCKT) Short Interest Up 9.6% in November

The Hackett Group, Inc. (NASDAQ:HCKT) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 209,100 shares, an increase of 9.6% from the October 31st total of 190,700 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 108,100 shares, the short-interest ratio is presently 1.9 days.

Hedge Funds Weigh In On The Hackett Group

Several hedge funds have recently bought and sold shares of HCKT. CWM LLC lifted its stake in The Hackett Group by 8.4% in the 3rd quarter. CWM LLC now owns 5,061 shares of the business services provider’s stock worth $133,000 after purchasing an additional 394 shares in the last quarter. Rhumbline Advisers raised its position in shares of The Hackett Group by 1.6% in the second quarter. Rhumbline Advisers now owns 38,946 shares of the business services provider’s stock worth $846,000 after buying an additional 608 shares in the last quarter. Mackenzie Financial Corp boosted its stake in The Hackett Group by 5.2% during the second quarter. Mackenzie Financial Corp now owns 15,034 shares of the business services provider’s stock valued at $327,000 after buying an additional 748 shares during the period. The Manufacturers Life Insurance Company boosted its stake in The Hackett Group by 9.0% during 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 buying an additional 851 shares during the period. Finally, Sei Investments Co. grew its position 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 buying an additional 941 shares in the last quarter. Hedge funds and other institutional investors own 78.12% of the company’s stock.

The Hackett Group Stock Performance

Shares of HCKT opened at $31.67 on Wednesday. The Hackett Group has a 52-week low of $20.23 and a 52-week high of $32.34. The stock’s 50-day simple moving average is $27.71 and its 200 day simple moving average is $25.29. 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 stock has a market capitalization of $873.87 million, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00.

The Hackett Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, December 20th. The Hackett Group’s payout ratio is 36.07%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HCKT shares. Barrington Research restated an “outperform” rating and issued a $28.00 target price on shares of The Hackett Group in a research note on Tuesday, November 5th. 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 research note on Tuesday, November 5th. Craig Hallum increased their target price on shares of The Hackett Group from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Roth Capital lowered shares of The Hackett Group from a “strong-buy” rating to a “hold” rating in a research 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 company. According to MarketBeat.com, The Hackett Group has an average rating of “Moderate Buy” and a consensus price target of $30.00.

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.