Hackett Group Inc (The). - HCKT STOCK NEWS

The Hackett Group (NASDAQ: HCKT) has integrated generative AI (Gen AI) insights from its AI XPLR™ platform into its Executive Advisory programs. This integration, based on discussions with hundreds of leading companies, provides comprehensive guidance on Gen AI adoption. The research reveals that less than 10% of companies have explored breakthrough Gen AI use cases, although there is a potential 40% productivity improvement. Hackett's approach emphasizes a top-down, enterprise-wide strategy for Gen AI deployment, ensuring the entire organization is educated and mobilized. This integration offers clients access to AI use cases, benchmarks, and best practices, providing a competitive edge.

The Hackett Group (NASDAQ: HCKT) released its first Digital World Class Matrix™, focusing on Multi-Process Human Resources Outsourcing (MPHRO) vendors. This report highlights that many organizations are not fully leveraging digital HR solutions, AI, and intelligent automation, despite significant investments. Increased innovation, ease of integration, and a shift towards AI are key value drivers for MPHRO vendors. However, the market remains fragmented with underutilized services like HR transaction processing, contact center support, and interview scheduling. The report evaluates 12 global providers, categorizing them based on their service capabilities and customer satisfaction. It also offers strategies for providers to effectively market their services and support HR functions. The Hackett Group plans to release a new HR system evaluation report later this year.

The Hackett Group (NASDAQ: HCKT) has been honored with OneStream Software's 2024 Finance Transformation Award. This accolade was presented at the OneStream Splash event in Las Vegas, recognizing Hackett's exceptional work in transforming Pella's financial operations. The project unified Pella's budgeting, profitability, forecasting, tax reporting, and lease accounting into one platform, drastically reducing consolidation times and improving decision-making speed. Allocation execution times dropped from a day to five minutes per iteration, significantly enhancing operational efficiency. The comprehensive solution provided strategic insights and detailed income statements, enabling Pella to adapt swiftly to market changes and optimize profitability. Paulo Dominguez and Trey Robbins from The Hackett Group highlighted the team's expertise and commitment, while Stephanie Cramp from OneStream praised the project's complexity and impact.

The Hackett Group, Inc. (NASDAQ: HCKT) announced its first-quarter 2024 financial results, with total revenue of $77.2 million, exceeding guidance, and GAAP diluted earnings per share of $0.32. Adjusted diluted earnings per share stood at $0.39, surpassing the prior year's figures. Cash flow from operations was $2.8 million, and the company repurchased $4.8 million worth of shares. The Board declared a dividend of $0.11 per share. Future estimates for the second quarter include revenue between $73.5 million to $75.0 million and adjusted diluted earnings per share of $0.36 to $0.39. The company continues to focus on AI consulting and Executive Advisory offerings.

The Hackett Group, Inc. (HCKT) will release financial results for the first quarter of 2024 on May 7, 2024, followed by a conference call. International callers can join the call at (517) 308-9371. A rebroadcast will be available until May 21, 2024. The conference call will also be webcasted live on their website.

The Hackett Group, Inc. (NASDAQ: HCKT) highlights the importance of generative AI and technology in improving HR efficiency and effectiveness. The research identifies developing effective leaders and maintaining a high-performing organizational culture as top priorities for HR in 2024. HR workload volume is expected to rise by 7%, with a focus on cost reduction. Technology spending is set to increase by 4% to bridge efficiency gaps. Generative AI adoption is growing, with potential for significant cost and staff reductions. HR organizations are urged to align workforce planning with business strategy and enhance employee experiences.

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New research by The Hackett Group, Inc. (NASDAQ: HCKT) highlights the value of cloud-based enterprise performance management (EPM) software, emphasizing AI integration for productivity gains. The study ranks top EPM providers and showcases the benefits of Digital World Class status, including improved forecast accuracy, cost advantages, and high customer satisfaction.

The Hackett Group, Inc. (HCKT) reported financial results for Q4 2023, with total revenue of $72.4 million and adjusted diluted earnings per share of $0.39, exceeding guidance. The company's cash flow from operations was $25.6 million, with $21.0 million in cash balances. The Board declared a dividend of $0.11 per share for Q1 2024. The outlook for Q1 2024 includes total revenue between $72.5 million to $74.0 million and adjusted diluted earnings per share between $0.36 and $0.39.