The Hackett Group (NASDAQ:HCKT) Sets New 52-Week High After Analyst Upgrade

The Hackett Group, Inc. (NASDAQ:HCKT - Get Free Report) shares hit a new 52-week high on Wednesday after Roth Mkm raised their price target on the stock from $29.00 to $30.00. Roth Mkm currently has a buy rating on the stock. The Hackett Group traded as high as $29.70 and last traded at $29.70, with a volume of 589 shares. The stock had previously closed at $28.62.

A number of other research analysts also recently weighed in on the stock. Barrington Research reaffirmed an "outperform" rating and issued a $28.00 target price on shares of The Hackett Group in a research report on Tuesday. Craig Hallum raised their price objective on The Hackett Group from $30.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Roth Capital lowered The Hackett Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in shares of The Hackett Group by 18.1% during the 3rd quarter. Victory Capital Management Inc. now owns 16,414 shares of the business services provider's stock worth $431,000 after acquiring an additional 2,512 shares during the last quarter. Aptus Capital Advisors LLC boosted its position in The Hackett Group by 15.6% during the third quarter. Aptus Capital Advisors LLC now owns 178,299 shares of the business services provider's stock worth $4,684,000 after purchasing an additional 24,106 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of The Hackett Group by 150.2% in the third quarter. Harbor Capital Advisors Inc. now owns 251,489 shares of the business services provider's stock valued at $6,607,000 after purchasing an additional 150,962 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of The Hackett Group by 6,302.3% in the third quarter. Farther Finance Advisors LLC now owns 16,518 shares of the business services provider's stock valued at $434,000 after purchasing an additional 16,260 shares during the period. Finally, Pinnacle Associates Ltd. lifted its stake in shares of The Hackett Group by 47.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 136,674 shares of the business services provider's stock worth $3,590,000 after buying an additional 43,775 shares during the last quarter. 78.12% of the stock is currently owned by institutional investors and hedge funds.

The Hackett Group Stock Up 7.4 %

The firm has a market cap of $849.87 million, a P/E ratio of 22.90, a P/E/G ratio of 1.35 and a beta of 0.91. The firm's fifty day moving average is $25.68 and its 200 day moving average is $24.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 1.71.

The Hackett Group (NASDAQ:HCKT - Get Free Report) last posted its earnings results on Tuesday, August 6th. The business services provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $75.90 million for the quarter, compared to the consensus estimate of $74.16 million. The Hackett Group had a return on equity of 38.20% and a net margin of 11.46%. As a group, equities research analysts anticipate that The Hackett Group, Inc. will post 1.28 earnings per share for the current fiscal year.

The Hackett Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders 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 yield of 1.43%. The ex-dividend date of this dividend is Friday, December 20th. The Hackett Group's dividend payout ratio is 35.20%.

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.