The Hackett Group (NASDAQ:HCKT) Reaches New 1-Year Low – Time to Sell?

The Hackett Group, Inc. (NASDAQ:HCKT) shares hit a new 52-week low during trading on Friday . The company traded as low as $18.66 and last traded at $18.70, with a volume of 58014 shares trading hands. The stock had previously closed at $19.09.

Wall Street Analysts Forecast Growth

HCKT has been the topic of a number of research analyst reports. Wall Street Zen lowered The Hackett Group from a “buy” rating to a “hold” rating in a report on Monday, July 21st. Barrington Research reissued an “outperform” rating and set a $27.00 price target on shares of The Hackett Group in a report on Thursday, September 4th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of The Hackett Group in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.67.

The Hackett Group Trading Down 3.3%

The business has a fifty day moving average of $20.32 and a 200-day moving average of $23.54. The stock has a market capitalization of $507.83 million, a price-to-earnings ratio of 30.77, a price-to-earnings-growth ratio of 1.27 and a beta of 0.97. 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 Hackett Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 19th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, September 19th. The Hackett Group’s payout ratio is presently 80.00%.

Hedge Funds Weigh In On The Hackett Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its position in shares of The Hackett Group by 23.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 41,234 shares of the business services provider’s stock valued at $1,204,000 after purchasing an additional 7,885 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of The Hackett Group by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 234,470 shares of the business services provider’s stock valued at $6,851,000 after purchasing an additional 1,626 shares during the period. Victory Capital Management Inc. boosted its position in shares of The Hackett Group by 128.7% in the 1st quarter. Victory Capital Management Inc. now owns 28,487 shares of the business services provider’s stock valued at $832,000 after purchasing an additional 16,030 shares during the period. Haven Private LLC boosted its position in shares of The Hackett Group by 30.8% in the 1st quarter. Haven Private LLC now owns 30,462 shares of the business services provider’s stock valued at $890,000 after purchasing an additional 7,174 shares during the period. Finally, Invesco Ltd. boosted its position in shares of The Hackett Group by 151.7% in the 1st quarter. Invesco Ltd. now owns 126,874 shares of the business services provider’s stock valued at $3,707,000 after purchasing an additional 76,460 shares during the period. Institutional investors and hedge funds own 78.12% of the company’s stock.

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.