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The Hackett Group Inc (NASDAQ: HCKT) is a premier intellectual property-based strategic consultancy firm renowned for its expertise in enterprise benchmarking and digital transformation. With a strong focus on global companies, Hackett Group offers a comprehensive range of services designed to enhance business performance and operational efficiency.
Specializing in digital transformation, the firm provides cutting-edge solutions including robotic process automation and enterprise cloud application implementation. Their service portfolio extends to business transformation, enterprise analytics, working capital management, and global business services. Additionally, Hackett Group has a notable presence in business strategy, operations, finance, human capital management, strategic sourcing, procurement, and information technology, earning accolades for its Oracle and SAP practices.
Since its inception, Hackett Group has executed over 15,000 benchmarking studies with leading corporations and government entities. Their clientele includes 97% of the Dow Jones Industrials, 89% of the Fortune 100, 87% of the DAX 30, and 59% of the FTSE 100. These studies contribute to the firm's Best Practice Intelligence Center™, a repository of benchmarking metrics and practices designed to drive organizational excellence.
The company is organized into three main segments: Oracle Solutions, SAP Solutions, and Global Strategy & Business Transformation (S&BT). The Global S&BT segment, primarily operating in the United States, is the leading revenue generator, reflecting the firm's strong market position and trusted advisory capabilities.
As a trailblazer in Generative Artificial Intelligence (Gen AI) strategy, Hackett Group continues to innovate, providing clients with advanced solutions to navigate the complexities of modern business environments. With a commitment to excellence and a track record of success, Hackett Group remains a pivotal player in the realms of strategic consulting and digital enterprise transformation.
The Hackett Group has introduced new Digital World Class™ standards that aim to enhance HR performance through digital transformation. Their research indicates that Digital World Class HR organizations see a 33% reduction in operational costs, 72% fewer transactional errors, and are 40% more efficient in staffing. The study highlights six areas of excellence, emphasizing the importance of technology enablement and data analytics for achieving operational excellence. Companies can access this research for free to improve HR processes.
The Hackett Group has unveiled its new Digital World Class procurement standards that promise significant efficiency and effectiveness improvements. Key findings from the research include:
- 25% lower procurement costs compared to typical organizations.
- 2.5x higher procurement ROI.
- 33% fewer employees per billion dollars of revenue.
These advancements stem from leveraging digital technologies to enhance operational excellence. The full research is freely accessible online.
The Hackett Group announced its new Digital World Class™ finance standards, emphasizing the substantial benefits of digital transformation. The research reveals that finance organizations can achieve up to 43% lower costs and enhanced operational efficiency through technology. Key findings highlight that these organizations employ 47% fewer full-time equivalents per billion dollars of revenue and provide significantly better customer experiences. The research outlines six areas of excellence critical for achieving optimal performance, underscoring the importance of leveraging data analytics, cloud solutions, and talent development.
The Hackett Group, Inc. (NASDAQ: HCKT) reported second-quarter 2021 financial results, with net revenue of $73.0 million, marking a 39% year-over-year increase. Pro forma diluted earnings per share rose to $0.39, up from $0.06 in the same quarter last year. The company's cash balances stood at $52.5 million, with no debt. A quarterly dividend of $0.10 per share was declared, payable on October 8, 2021. The company anticipates third-quarter net revenue between $66.0 million and $68.0 million. CEO Ted A. Fernandez noted a strong demand for digital transformation solutions.
The Hackett Group, Inc. (NASDAQ: HCKT) will announce its financial results for Q2 2021 on August 10, 2021, after market close. Senior management will discuss these results during a conference call at 5:00 P.M. ET. Participants can join the call by dialing (800) 593-0486, or (517) 308-9371 for international callers. A rebroadcast will be available from 8:00 P.M. ET on the same day until August 24, 2021. Additionally, the call will be webcast live on the company's website. Further details can be found at www.thehackettgroup.com.
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.
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