Hackett Group Inc Stock Price, News & Analysis

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.

The Hackett Group, Inc. (NASDAQ: HCKT) is set to release its financial results for Q3 2022 on November 8, 2022, after market hours. A conference call with senior management to discuss these results will occur at 5:00 PM ET on the same day. Participants can dial in at (800) 593-0486, with an international number of (517) 308-9371. If unable to join live, a rebroadcast will be available from 8:00 PM ET on November 8 to 5:00 PM ET on November 22, 2022. The call will also be webcasted live on the company’s website.

The Hackett Group (NASDAQ: HCKT) released a Cloud Services Study revealing that 70% of technology infrastructure will migrate to the cloud within two to three years. Participants reported a 12% reduction in technology costs post-migration, with top performers seeing 37% savings. Significant benefits include a 36% increase in developer innovation time and a 45% reduction in time to market. The study aims to quantify cloud migration benefits and is part of a five-year initiative. A complimentary overview is available for registration.

The Hackett Group (NASDAQ: HCKT) has launched a new Market Intelligence Service aimed at software and service providers. This service will evaluate providers' abilities to deliver business value and assist companies in achieving Digital World Class performance. Utilizing the Hackett Excelleration Matrix, the service will categorize providers into Integrators, Innovators, and Digital World Class Solutions, drawing insights from nearly 20,000 benchmark studies. Initial reports will focus on customer-to-cash processes, offering valuable information to corporate executives for purchasing decisions.