The Hackett Group (NASDAQ:HCKT) Reaches New 52-Week High – Here’s Why

Shares of The Hackett Group, Inc. (NASDAQ:HCKT) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $33.50 and last traded at $31.85, with a volume of 239 shares trading hands. The stock had previously closed at $31.94.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Roth Mkm boosted their price target on The Hackett Group from $29.00 to $30.00 and gave the stock a “buy” rating 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 research report on Tuesday, November 5th. Barrington Research raised their price target on The Hackett Group from $28.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, StockNews.com upgraded The Hackett Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, The Hackett Group presently has an average rating of “Buy” and an average price target of $32.67.

The Hackett Group Stock Performance

The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.18. The company has a market cap of $846.74 million, a P/E ratio of 28.95, a PEG ratio of 1.58 and a beta of 0.99. The business’s 50 day simple moving average is $30.86 and its 200 day simple moving average is $28.52.

The Hackett Group (NASDAQ:HCKT) last announced its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.06). The Hackett Group had a net margin of 9.44% and a return on equity of 36.40%. The business had revenue of $77.46 million during the quarter, compared to analysts’ expectations of $75.64 million. Sell-side analysts predict that The Hackett Group, Inc. will post 1.43 earnings per share for the current fiscal year.

The Hackett Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.48 annualized dividend and a yield of 1.56%. This is a boost from The Hackett Group’s previous quarterly dividend of $0.11. The Hackett Group’s payout ratio is presently 41.51%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC bought a new position in The Hackett Group during the fourth quarter valued at approximately $521,000. Two Sigma Advisers LP increased its position in The Hackett Group by 23.9% in the fourth quarter. Two Sigma Advisers LP now owns 93,300 shares of the business services provider’s stock worth $2,866,000 after purchasing an additional 18,000 shares during the last quarter. State of Wyoming lifted its position in The Hackett Group by 3.9% during the fourth quarter. State of Wyoming now owns 19,821 shares of the business services provider’s stock valued at $609,000 after purchasing an additional 747 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of The Hackett Group in the 4th quarter worth $219,000. Finally, Millennium Management LLC increased its holdings in shares of The Hackett Group by 269.6% in the 4th quarter. Millennium Management LLC now owns 53,689 shares of the business services provider’s stock worth $1,649,000 after buying an additional 39,163 shares during the last quarter. Institutional investors own 78.12% of the company’s stock.

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.