The Hackett Group (NASDAQ:HCKT) Hits New 52-Week High on Analyst Upgrade

The Hackett Group, Inc. (NASDAQ:HCKT) shares reached a new 52-week high during 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. The stock had previously closed at $28.62.

Several other research analysts have also commented on the company. Roth Capital lowered The Hackett Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Barrington Research reaffirmed an “outperform” rating and issued a $28.00 target price on shares of The Hackett Group in a report on Tuesday. Finally, Craig Hallum increased their price target on shares of The Hackett Group from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.00.

Institutional Investors Weigh In On The Hackett Group

Several large investors have recently modified their holdings of HCKT. BNP Paribas Financial Markets grew its position in The Hackett Group by 84.9% in the 1st quarter. BNP Paribas Financial Markets now owns 37,593 shares of the business services provider’s stock valued at $914,000 after buying an additional 17,263 shares during the last quarter. Sei Investments Co. increased its stake in shares of The Hackett Group by 2.6% during the first quarter. Sei Investments Co. now owns 55,142 shares of the business services provider’s stock worth $1,340,000 after acquiring an additional 1,411 shares during the period. Russell Investments Group Ltd. increased its stake in shares of The Hackett Group by 4.1% during the first quarter. Russell Investments Group Ltd. now owns 138,190 shares of the business services provider’s stock worth $3,358,000 after acquiring an additional 5,433 shares during the period. Isthmus Partners LLC raised its holdings in The Hackett Group by 38.6% during the first quarter. Isthmus Partners LLC now owns 162,432 shares of the business services provider’s stock worth $3,947,000 after purchasing an additional 45,201 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in The Hackett Group by 20.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 101,266 shares of the business services provider’s stock valued at $2,461,000 after purchasing an additional 17,278 shares during the period. Hedge funds and other institutional investors own 78.12% of the company’s stock.

The Hackett Group Price Performance

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 stock has a fifty day simple moving average of $25.68 and a two-hundred day simple moving average of $24.00. The company has a market cap of $831.35 million, a PE ratio of 22.90, a price-to-earnings-growth ratio of 1.35 and a beta of 0.91.

The Hackett Group (NASDAQ:HCKT) last posted its quarterly 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 business had revenue of $75.90 million during 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%. On average, equities analysts predict that The Hackett Group, Inc. will post 1.28 EPS for the current fiscal year.

The Hackett Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, December 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.46%. 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.