The Hackett Group (NASDAQ:HCKT) Hits New 12-Month High Following Analyst Upgrade

The Hackett Group, Inc. (NASDAQ:HCKT)’s share price reached a new 52-week high during mid-day trading 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 trading hands. The stock had previously closed at $28.62.

A number of other brokerages have also issued reports on HCKT. Roth Capital lowered The Hackett Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Craig Hallum boosted 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, Barrington Research restated an “outperform” rating and set a $28.00 target price on shares of The Hackett Group in a report on Tuesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, The Hackett Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Hedge Funds Weigh In On The Hackett Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of The Hackett Group by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 1,995,053 shares of the business services provider’s stock valued at $48,480,000 after buying an additional 61,635 shares during the period. Renaissance Technologies LLC raised its holdings in The Hackett Group by 0.6% in the second quarter. Renaissance Technologies LLC now owns 1,053,446 shares of the business services provider’s stock valued at $22,881,000 after acquiring an additional 6,600 shares in the last quarter. Earnest Partners LLC lifted its stake in The Hackett Group by 13.1% in the first quarter. Earnest Partners LLC now owns 488,606 shares of the business services provider’s stock worth $11,873,000 after acquiring an additional 56,635 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in The Hackett Group by 150.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 251,489 shares of the business services provider’s stock worth $6,607,000 after acquiring an additional 150,962 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of The Hackett Group by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 244,516 shares of the business services provider’s stock valued at $5,311,000 after purchasing an additional 10,725 shares during the last quarter. Hedge funds and other institutional investors own 78.12% of the company’s stock.

The Hackett Group Price Performance

The firm has a market capitalization of $831.35 million, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 1.35 and a beta of 0.91. The stock’s fifty day moving average price is $25.68 and its two-hundred day moving average price is $24.00. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.26.

The Hackett Group (NASDAQ:HCKT) last posted 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 company had revenue of $75.90 million for the quarter, compared to analysts’ expectations of $74.16 million. The Hackett Group had a return on equity of 38.20% and a net margin of 11.46%. Equities research analysts expect that The Hackett Group, Inc. will post 1.28 EPS for the current year.

The Hackett Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, December 20th. The Hackett Group’s dividend payout ratio (DPR) is presently 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.