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

The Hackett Group, Inc. (NASDAQ:HCKT) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 256,900 shares, a growth of 7.9% from the January 15th total of 238,000 shares. Based on an average daily volume of 93,200 shares, the days-to-cover ratio is currently 2.8 days. Currently, 1.0% of the company’s shares are short sold.

The Hackett Group Stock Performance

Shares of NASDAQ HCKT traded down $0.32 during trading on Tuesday, reaching $31.62. 152,875 shares of the company traded hands, compared to its average volume of 85,060. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.18. The firm has a 50 day simple moving average of $30.90 and a 200-day simple moving average of $28.46. The Hackett Group has a 52-week low of $20.23 and a 52-week high of $32.83. The stock has a market capitalization of $872.40 million, a PE ratio of 25.92, a P/E/G ratio of 1.60 and a beta of 0.99.

The Hackett Group (NASDAQ:HCKT) last issued its earnings results on Tuesday, February 18th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.06). The Hackett Group had a return on equity of 35.31% and a net margin of 11.05%. Equities research analysts anticipate that The Hackett Group will post 1.33 earnings per share for the current year.

Institutional Trading of The Hackett Group

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of The Hackett Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 2,186,611 shares of the business services provider’s stock worth $67,173,000 after purchasing an additional 16,682 shares in the last quarter. Geode Capital Management LLC raised its holdings in The Hackett Group by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 716,072 shares of the business services provider’s stock valued at $22,002,000 after buying an additional 15,819 shares during the period. State Street Corp lifted its stake in shares of The Hackett Group by 4.1% during the 3rd quarter. State Street Corp now owns 641,783 shares of the business services provider’s stock worth $16,927,000 after acquiring an additional 25,249 shares during the last quarter. Boston Partners boosted its position in The Hackett Group by 2.9% in the 4th quarter. Boston Partners now owns 525,435 shares of the business services provider’s stock valued at $16,086,000 after buying an additional 14,676 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of The Hackett Group by 5.2% in the fourth quarter. Wellington Management Group LLP now owns 393,291 shares of the business services provider’s stock valued at $12,082,000 after acquiring an additional 19,300 shares in the last quarter. 78.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barrington Research reissued an “outperform” rating and issued a $28.00 price target on shares of The Hackett Group in a research note 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 stock a “buy” rating in a report on Tuesday, November 5th. Finally, Roth Mkm upped their price objective on The Hackett Group from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently 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.