Hackett Group Inc Stock Price, News & Analysis

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.

The Hackett Group's latest research highlights that world-class finance organizations operate at 36% lower costs with 45% fewer employees and are 21% more agile. By pursuing digital transformation, these organizations could achieve 44% lower costs and 58% fewer staff over three years. The focus shifts towards operational efficiency, enabling revenue growth, and enhancing customer relationships. The research underscores the need for finance to invest in technology and workforce development to become more capable and agile in navigating future challenges.

The Hackett Group (NASDAQ: HCKT) announced a revised payment date for its quarterly dividend of 9.5 cents per share, now set for December 30, 2020, for shareholders of record as of December 18, 2020. The previous payment date was January 9, 2021. Hackett is a strategic consultancy focused on digital transformation, having conducted nearly 18,000 benchmarking studies and serving major corporations globally. This change in dividend payment reflects the company’s ongoing commitment to providing value to shareholders.

The Hackett Group reported third quarter 2020 net revenue of $57.8 million, a 13% decline year-over-year, but a 10% sequential increase. GAAP diluted EPS for Q3 was $0.09, compared to $0.21 in the prior year. Pro forma diluted EPS decreased to $0.17 from $0.27. The board declared a quarterly dividend of 9.5 cents per share. The company ended Q3 with $43.2 million in cash and no debt, repurchasing 83 thousand shares at an average price of $12.57. Projected Q4 revenue is between $55.0 million and $58.0 million.