The Hackett Group (NASDAQ:HCKT) Sees Unusually-High Trading Volume Following Dividend Announcement

The Hackett Group, Inc. (NASDAQ:HCKT) saw an uptick in trading volume on Wednesday after the company announced a dividend. 356,821 shares were traded during mid-day trading, an increase of 84% from the previous session’s volume of 193,420 shares.The stock last traded at $18.97 and had previously closed at $17.66.

The newly announced dividend which will be paid on Friday, January 9th. Investors of record on Tuesday, December 23rd will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, December 23rd. The Hackett Group’s dividend payout ratio (DPR) is currently 80.00%.

Analyst Upgrades and Downgrades

Several analysts recently commented on HCKT shares. Weiss Ratings restated a “hold (c-)” rating on shares of The Hackett Group in a report on Wednesday, October 8th. Barrington Research restated an “outperform” rating and set a $27.00 price target on shares of The Hackett Group in a report on Monday, October 27th. Finally, Wall Street Zen cut shares of The Hackett Group from a “buy” rating to a “hold” rating in a report on Monday, July 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

The Hackett Group Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.71. The stock has a market capitalization of $520.10 million, a price-to-earnings ratio of 31.61, a PEG ratio of 1.23 and a beta of 0.97. The stock’s 50 day simple moving average is $19.52 and its 200-day simple moving average is $22.46.

Institutional Trading of The Hackett Group

A number of institutional investors have recently added to or reduced their stakes in the business. CWC Advisors LLC. lifted its stake in The Hackett Group by 2.6% in the second quarter. CWC Advisors LLC. now owns 16,600 shares of the business services provider’s stock valued at $422,000 after acquiring an additional 428 shares during the last quarter. Values First Advisors Inc. grew its position in The Hackett Group by 0.5% in the 1st quarter. Values First Advisors Inc. now owns 80,453 shares of the business services provider’s stock worth $2,350,000 after purchasing an additional 438 shares during the last quarter. Rhumbline Advisers grew its position in The Hackett Group by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 39,506 shares of the business services provider’s stock worth $1,004,000 after purchasing an additional 581 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in The Hackett Group by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the business services provider’s stock worth $439,000 after purchasing an additional 614 shares during the last quarter. Finally, Haven Private LLC grew its position in The Hackett Group by 2.3% in the 2nd quarter. Haven Private LLC now owns 31,157 shares of the business services provider’s stock worth $792,000 after purchasing an additional 695 shares during the last quarter. 78.12% of the stock is currently owned by institutional investors and hedge funds.

The Hackett Group Company Profile

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.