Hackett Group Inc - HCKT STOCK NEWS

The Hackett Group, Inc. (NASDAQ: HCKT) reported its Q1 2021 financial results, showing a net revenue of $63.4 million, a 3% decrease year-over-year but a 7% increase sequentially. The diluted EPS stood at $0.19, up from $0.17 the prior year. Pro forma EPS reached $0.27, reflecting a 17% sequential increase. The company holds $51.1 million in cash and no debt, having repurchased $3.7 million in shares. A $20 million increase in the share repurchase program was approved, alongside a quarterly dividend of $0.10 per share. Q2 revenue estimates range from $64.5 million to $66.5 million.

The Hackett Group (NASDAQ: HCKT) has released its 2021 IT Key Issues Research, highlighting significant shifts in the technology landscape prompted by the pandemic. Key findings indicate a need for IT to transition from administrative roles to strategic partners in digital transformation. Organizations anticipate a 25% increase in cloud-based applications to enhance resiliency. However, IT faces challenges with a 6.8% rise in workload against stagnant budgets, and a crucial focus on securing data systems. The study surveyed nearly 300 executives across various sectors, emphasizing the importance of aligning skills with changing business needs.

The Hackett Group's latest research reveals a significant shift in HR priorities, with becoming a strategic advisor now the top focus, up from ninth place last year. This change is driven by the pandemic and social justice discussions. Key issues highlighted include enhancing business strategy alignment, workforce diversity, and improving analytics capabilities. The survey, involving over 300 executives, indicates 41% expect stabilization in business conditions by Q2 2021, while 36% anticipate longer recovery. The emphasis on digital transformation is also noted, with an expected 20% growth in cloud-based HR tools.

According to The Hackett Group's new research, the global pandemic has pushed procurement teams to prioritize cost reduction, supplier relationships, and digital transformation initiatives in 2021. Key findings indicate that while 41% anticipate stabilization by Q2, supply chain risk reduction and corporate sustainability have gained prominence. The research highlights an increased focus on data-driven analytics and the adoption of cloud-based systems, with significant investment expected. Press release reveals insights from over 300 executives and emphasizes the strategic role of procurement in navigating business disruptions.

The Hackett Group (NASDAQ: HCKT) has released its 2021 CFO Agenda, highlighting a strategic shift in corporate finance priorities post-pandemic. Key findings indicate the need for finance to become strategic advisors, prioritize cost reduction, and enhance analytics capabilities. The report reveals a projected 3.4% decrease in finance budgets and a 4.4% reduction in staffing amidst increased workloads. Digital transformation efforts are expected to grow significantly, with a marked decline in legacy app usage and a rise in cloud and robotic process automation tools. Overall, a greater focus on predictive analytics and digitalization is noted.

The Hackett Group, Inc. (NASDAQ: HCKT) will announce its financial results for Q1 2021 on May 11, 2021, after market close. Management will host a conference call at 5:00 P.M. ET to discuss the results. Interested participants can join by dialing (800) 593-0486 with a passcode of "First Quarter". International callers should use (517) 308-9371. A rebroadcast will be available from 8:00 P.M. ET on the same day through May 25, 2021. The call will also be webcast live, accessible through the company's website.

The Hackett Group, Inc. (NASDAQ: HCKT) appointed Maria A. Bofill as an independent director on February 18, 2021. She will serve on various Board Committees, increasing the Board to seven members, with five being independent. Bofill has extensive experience in senior finance roles, notably as CFO of Fyffes North America. Chairman Ted A. Fernandez highlighted her addition as a move towards gender diversity and an enhancement of the Board's capabilities. The company aims to regain momentum post-COVID-19 and continue its growth strategy based on intellectual property.

The Hackett Group, Inc. (NASDAQ: HCKT) reported Q4 2020 net revenue of $59.2 million, a 7% decline year-over-year, but a 2.5% increase sequentially. GAAP diluted EPS was $0.03, down from $0.07 a year prior, impacted by a $5.5 million restructuring charge. Pro forma EPS stood at $0.23, down from $0.24 year-over-year but up 35% sequentially. The company authorized a 5% dividend increase to $0.40 per share and expects Q1 2021 revenues between $61 million and $63 million, with pro forma EPS of $0.24 to $0.26.

The Hackett Group, Inc. (NASDAQ: HCKT) will announce its fourth quarter financial results for the period ending January 1, 2021 on February 23, 2021, after market hours. A conference call for management to discuss these results is scheduled for 5:00 P.M. ET on the same day. Interested parties can join by calling (800) 593-0486 (Passcode: Fourth Quarter) or (517) 308-9371 for international callers. A rebroadcast will be available from 8:00 P.M. ET on February 23 until 5:00 P.M. ET on March 9, 2021. The call can also be accessed via a live webcast on the company's website.