Hackett Group Inc Stock Price, News & Analysis

The Hackett Group's new HR Key Issues research highlights a disconnect between HR priorities and their ability to implement improvements for 2023. Key findings show that while developing effective executives is the top priority, less than 40% of HR organizations have initiatives to support this. Additionally, HR faces a 10.5% expected increase in workload with minimal staffing and budget growth, and a slowdown in HR tech spending from 9.1% to 1.8%. Less than 20% of organizations utilize advanced analytics effectively, indicating a lack of strategic workforce planning capabilities. The research emphasizes the need for HR to align priorities with investments.

The Hackett Group (NASDAQ: HCKT) emphasizes the importance of digital transformation in procurement based on its 2023 research. The top priorities for procurement organizations include ensuring supply continuity and addressing inflation, with a significant focus on talent management. A 10.6% workload increase paired with modest staffing growth will create a productivity gap of 7.4%. The reliance on technology is evident, with a 5.7% rise in spending aimed at enhancing procurement efficiency. The research highlights a strong adoption of procurement technologies, particularly in spend analytics, critical for strategic decision-making.

The Hackett Group (NASDAQ: HCKT) has released its 2023 CFO Agenda research, indicating that corporate finance leaders will prioritize digital transformation amidst recession, inflation, and talent shortages. The study reveals an expected 8% increase in workload while facing a 1% reduction in staff and a 2% budget cut, resulting in substantial productivity and efficiency gaps of 9% and 10% respectively. Although 5% of the budget will go towards finance technology, 60% of executives demonstrate low confidence in retaining essential skills. Only 19% plan initiatives for uncontrollable issues, highlighting a concerning disconnect in priorities.

The Hackett Group, Inc. (NASDAQ: HCKT) announced its fourth-quarter financial results for 2022, reporting total revenue of $70.1 million, slightly down from $70.2 million in Q4 2021. Adjusted diluted earnings per share were $0.36, down from $0.56 in the prior year. The results included a notable tax benefit in 2021, skewing year-over-year comparisons. The company repurchased 4.9 million shares for $115 million during the quarter. For Q1 2023, Hackett estimates revenue of $69.0-$70.5 million and adjusted EPS of $0.35-$0.38. A dividend of $0.11 per share was declared for Q1 2023 shareholders.

The Hackett Group, Inc. (NASDAQ: HCKT) will release its fourth quarter financial results for the period ending December 30, 2022, on February 21, 2023, after market hours.

Senior management will discuss the results in a conference call at 5:00 P.M. ET. Investors can join by calling (800) 593-0486 or (517) 308-9371 for international callers. A rebroadcast will be available from 8:00 P.M. ET on February 21 through 5:00 P.M. ET on March 7, 2023.

The conference call will also be webcast live on the company's website, with a replay accessible after the call.

The Hackett Group, Inc. (NASDAQ: HCKT) announced the completion of its modified Dutch auction tender offer, purchasing 4,889,315 shares of its common stock at $23.50 per share, totaling approximately $114.9 million. This represents about 15.4% of the company's outstanding shares. The offer, which expired on December 8, 2022, saw no proration as all properly tendered shares were accepted. The payment for these shares will be processed swiftly in accordance with the offer's terms.

The Hackett Group has announced the preliminary results of its modified Dutch auction tender offer to repurchase up to $120 million of its common stock. The offer, which expired on December 8, 2022, saw 4,889,815 shares tendered at a purchase price of $23.50 per share, totaling approximately $114.9 million. This represents 15.4% of Hackett's outstanding shares. The final count of shares purchased will be confirmed after the depositary completes its process.

The Hackett Group, Inc. (NASDAQ: HCKT) has launched a modified "Dutch auction" tender offer to repurchase up to $120 million of its common stock. The offer, starting on November 9, 2022 and expiring on December 8, 2022, allows shareholders to tender shares within a price range of $20.50 to $23.50 per share. If fully subscribed, the buyback will account for 16.1% to 18.5% of the shares outstanding. The repurchase will be funded by existing cash and a $100 million credit facility.

The Hackett Group (NASDAQ: HCKT) reported a total revenue of $72.0 million for Q3 2022, slightly up from $71.9 million in Q3 2021. GAAP diluted EPS rose to $0.32 from $0.25 year-over-year, while adjusted diluted EPS increased 19% to $0.37. The Board of Directors approved a $120.0 million increase to its share repurchase plan and announced a Q4 2022 revenue estimate of $66.0 million to $68.0 million. The company reorganized its reporting structure into three segments and declared a dividend of $0.11 per share for Q4 2022.