Hackett Group Inc Stock Price, News & Analysis

The Hackett Group (NASDAQ: HCKT) released research indicating that one-size-fits-all hybrid work policies negatively affect employee engagement and productivity. The study highlights that allowing employees greater choice in work arrangements leads to improved retention and performance. It emphasizes that virtual collaboration is effective for most employees, except for those with less than a year at their company. Approximately 85% of workers in jobs suitable for remote work are either fully remote or hybrid. The findings suggest that companies focusing on flexibility, effective tools, and open communication can enhance collaboration and employee satisfaction. Key recommendations include fostering diverse work styles and measuring performance based on outcomes rather than hours worked.

The Hackett Group, Inc. (NASDAQ: HCKT) will announce its financial results for the first quarter ending March 31, 2023, on May 9, 2023, after the market closes. A conference call for the senior management to discuss the results is scheduled for the same day at 5:00 P.M. ET. Interested parties can join the call by dialing (800) 593-0486, with an international option at (517) 308-9371. A rebroadcast will be available starting at 8:00 P.M. ET on May 9 and remain accessible until May 23. Additionally, a live webcast of the conference call will be available on the company's website. For more information, visit www.thehackettgroup.com.

The Hackett Group (NASDAQ: HCKT) has launched a new research project within its Market Intelligence Service aimed at evaluating and ranking finance and accounting outsourcing solutions providers. This report, expected in Q3 2023, will highlight the benefits of partnering with specific outsourcing providers across various finance operations. The Hackett Group plans to conduct interviews and analyze companies' performance to assess the value realized from these partnerships. Additionally, the report will categorize providers based on their capability and value, revealing insights to help companies improve outsourcing contracts. CEO Ted A. Fernandez emphasized the need for deeper provider insights and the growing importance of strategic outsourcing capabilities over mere cost reduction.

The Hackett Group has released a new Hackett Excelleration Matrix indicating that modern customer-to-cash (C2C) receivables platforms significantly outperform legacy systems. Key findings include a 43% average performance advantage, 87% positive customer experience, and a $107 million annual cash increase for typical $10 billion companies. The research analyzed nine leading providers, emphasizing cash application, collections, and dispute management capabilities. As companies invest over $1 billion in such platforms, effective working capital management becomes critical amidst rising interest rates and recession concerns.

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.