Short Interest in The Hackett Group, Inc. (NASDAQ:HCKT) Drops By 12.1%

The Hackett Group, Inc. (NASDAQ:HCKT) saw a large decline in short interest in February. As of February 15th, there was short interest totalling 225,800 shares, a decline of 12.1% from the January 31st total of 256,900 shares. Based on an average daily trading volume, of 95,700 shares, the days-to-cover ratio is presently 2.4 days. Approximately 0.9% of the shares of the stock are sold short.

Hedge Funds Weigh In On The Hackett Group

Large investors have recently modified their holdings of the business. Versant Capital Management Inc lifted its holdings in The Hackett Group by 353.1% during the 4th quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $29,000 after buying an additional 738 shares during the period. Quantbot Technologies LP increased its position in The Hackett Group by 383.4% during the 3rd quarter. Quantbot Technologies LP now owns 2,741 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 2,174 shares during the period. Longboard Asset Management LP bought a new position in The Hackett Group during the 4th quarter worth approximately $207,000. ProShare Advisors LLC acquired a new position in shares of The Hackett Group in the 4th quarter worth approximately $219,000. Finally, Arizona State Retirement System bought a new stake in shares of The Hackett Group in the 4th quarter valued at $221,000. Institutional investors own 78.12% of the company’s stock.

The Hackett Group Price Performance

Shares of HCKT traded down $0.36 during mid-day trading on Friday, reaching $29.01. The company had a trading volume of 14,979 shares, compared to its average volume of 106,551. The company has a market capitalization of $800.33 million, a price-to-earnings ratio of 27.39, a P/E/G ratio of 1.53 and a beta of 0.99. 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’s 50 day simple moving average is $30.61 and its 200 day simple moving average is $28.85. The Hackett Group has a 1-year low of $20.23 and a 1-year high of $34.02.

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

The Hackett Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.48 annualized dividend and a dividend yield of 1.65%. This is an increase from The Hackett Group’s previous quarterly dividend of $0.11. The Hackett Group’s dividend payout ratio (DPR) is presently 45.28%.

Analyst Upgrades and Downgrades

HCKT has been the topic of several analyst reports. Barrington Research increased their price target on shares of The Hackett Group from $28.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. StockNews.com downgraded The Hackett Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.