The Hackett Group, Inc. (NASDAQ:HCKT) Sees Large Drop in Short Interest

The Hackett Group, Inc. (NASDAQ:HCKT - Get Free Report) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 233,500 shares, a drop of 16.7% from the September 15th total of 280,400 shares. Based on an average trading volume of 121,400 shares, the short-interest ratio is currently 1.9 days. Approximately 0.9% of the shares of the company are short sold.

Institutional Investors Weigh In On The Hackett Group

A number of large investors have recently added to or reduced their stakes in HCKT. Isthmus Partners LLC raised its position in The Hackett Group by 1.1% during the second quarter. Isthmus Partners LLC now owns 164,195 shares of the business services provider's stock valued at $36,000 after purchasing an additional 1,763 shares in the last quarter. CWM LLC increased its holdings in shares of The Hackett Group by 78.4% in the second quarter. CWM LLC now owns 4,667 shares of the business services provider's stock worth $101,000 after buying an additional 2,051 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of The Hackett Group by 18.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,419 shares of the business services provider's stock worth $183,000 after buying an additional 1,283 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of 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 worth $223,000 after buying an additional 851 shares during the period. Finally, BOKF NA purchased a new position in shares of The Hackett Group in the first quarter worth about $305,000. Hedge funds and other institutional investors own 78.12% of the company's stock.

The Hackett Group Price Performance

NASDAQ:HCKT traded up $0.07 during trading hours on Monday, hitting $25.76. 52,075 shares of the company's stock traded hands, compared to its average volume of 101,989. The firm has a market cap of $711.34 million, a P/E ratio of 20.44, a P/E/G ratio of 1.42 and a beta of 0.91. The Hackett Group has a 52 week low of $20.23 and a 52 week high of $27.68. The business's fifty day simple moving average is $25.80 and its two-hundred day simple moving average is $23.75. 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 Hackett Group (NASDAQ:HCKT - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.31 earnings per share for the quarter, meeting analysts' consensus estimates of $0.31. The Hackett Group had a return on equity of 38.20% and a net margin of 11.46%. The business had revenue of $75.90 million for the quarter, compared to the consensus estimate of $74.16 million. On average, research analysts anticipate that The Hackett Group will post 1.28 earnings per share for the current fiscal year.

The Hackett Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 20th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.44 dividend on an annualized basis and a yield of 1.71%. The Hackett Group's payout ratio is 34.92%.

Analysts Set New Price Targets

A number of research firms have recently commented on HCKT. Barrington Research reaffirmed an "outperform" rating and issued a $28.00 price target on shares of The Hackett Group in a report on Wednesday, September 25th. Roth Capital lowered The Hackett Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 7th.

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.