Mastech Digital Names Nirav Patel as President and Chief Executive Officer and Member of the Board
Nirav Patel's Appointment: Nirav Patel has been appointed as the new President and CEO of Mastech Digital, effective January 6, 2025, succeeding Vivek Gupta, who is stepping down after nine years of leadership. Patel brings over 20 years of experience in technology services and aims to enhance the company's position in AI and digital transformation.
Vivek Gupta's Departure: Vivek Gupta will leave Mastech Digital on February 28, 2025, marking the end of his tenure where he successfully transformed the company from an IT staffing firm to a technology solutions provider, significantly improving its revenue quality and growth trajectory.
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Executives of IBM and Mastech Digital Increase Stock Holdings
- IBM Executive Purchase: David N. Farr of International Business Machines made a $304,000 purchase of 1,000 shares at $304 each on Friday, currently seeing a 4.1% gain, indicating confidence in the company's future performance.
- Stock Price Increase: As of Monday, IBM's stock is up approximately 3.1% to $316.42, reflecting positive market expectations for its performance and validating Farr's investment decision.
- Mastech Digital Purchase: On the same day, Steven A. Shaw purchased 4,880 shares of Mastech Digital at $6.97 each for a total of $34,013, marking his sixth purchase in the past year, demonstrating ongoing confidence in the company's long-term growth potential.
- Historical Investment Cost: Prior to this transaction, Shaw had invested a total of $160,567 in Mastech Digital over the past 12 months at an average cost of $7.73 per share, underscoring his strong belief in the company's future development.
Mastech Digital, Inc. Q2 Profit Decreases, But Beats Estimates
Earnings Performance: Mastech Digital, Inc. reported a second-quarter profit of $0.14 million ($0.01 per share), down from $1.39 million ($0.12 per share) last year, but exceeded analysts' expectations of $0.12 per share.
Revenue Decline: The company's revenue decreased by 0.9% to $49.10 million compared to $49.53 million in the same quarter last year.
Mastech Digital strengthens strategic partnership with Informatica
Expanded Partnership: Mastech Digital has formed an expanded strategic partnership with Informatica to provide AI-led solutions for global clients, focusing on data modernization and integration.
Technological Evolution: The collaboration aims to position Mastech as a Data and AI-first technology partner, utilizing Informatica’s Intelligent Data Management Cloud platform to enhance enterprise data integration and analytics.
Mastech Digital Strengthens Strategic Partnership with Informatica to Accelerate AI-Led IT Transformation Solutions
Partnership Announcement: Mastech Digital has expanded its strategic partnership with Informatica to deliver AI-driven data management solutions aimed at accelerating digital transformation for clients in various industries, including healthcare and manufacturing.
Client-Focused Solutions: The collaboration will provide industry-specific solutions and a co-branded AI and Data outcomes lab, enabling clients to quickly adopt AI technologies and achieve measurable business results through integrated data and IT transformation services.
Mastech Digital, Inc. to Discuss Fourth Quarter and Full Year 2024 Financial Results on February 19, 2025
Conference Call Announcement: Mastech Digital, Inc. has scheduled a conference call for February 19, 2025, at 9:00 a.m. ET to discuss its fourth quarter and full year financial results for 2024, hosted by CEO Nirav Patel and CFO Jack Cronin.
Company Overview: Mastech Digital is a leading provider of Digital Transformation IT Services, offering solutions in Data Management, Analytics, Digital Learning, and IT Staffing, with operations in the U.S., Canada, Europe, and India.
Mastech Digital Announces New Employee Inducement Grant Under NYSE American Listed Company Guide Rule Sec. 711
Stock Options Awarded: Mastech Digital, Inc. announced the granting of non-qualified stock options to its new President and CEO, Nirav Patel, allowing him to purchase up to 702,358 shares of common stock, with a vesting schedule based on time and company market capitalization milestones.
Company Overview: Mastech Digital specializes in Digital Transformation Services, providing technology talent and solutions globally, with headquarters in Pittsburgh, PA, and delivery centers in North America and India.
Executives of IBM and Mastech Digital Increase Stock Holdings
- IBM Executive Purchase: David N. Farr of International Business Machines made a $304,000 purchase of 1,000 shares at $304 each on Friday, currently seeing a 4.1% gain, indicating confidence in the company's future performance.
- Stock Price Increase: As of Monday, IBM's stock is up approximately 3.1% to $316.42, reflecting positive market expectations for its performance and validating Farr's investment decision.
- Mastech Digital Purchase: On the same day, Steven A. Shaw purchased 4,880 shares of Mastech Digital at $6.97 each for a total of $34,013, marking his sixth purchase in the past year, demonstrating ongoing confidence in the company's long-term growth potential.
- Historical Investment Cost: Prior to this transaction, Shaw had invested a total of $160,567 in Mastech Digital over the past 12 months at an average cost of $7.73 per share, underscoring his strong belief in the company's future development.
Mastech Digital, Inc. Q2 Profit Decreases, But Beats Estimates
Earnings Performance: Mastech Digital, Inc. reported a second-quarter profit of $0.14 million ($0.01 per share), down from $1.39 million ($0.12 per share) last year, but exceeded analysts' expectations of $0.12 per share.
Revenue Decline: The company's revenue decreased by 0.9% to $49.10 million compared to $49.53 million in the same quarter last year.
Mastech Digital strengthens strategic partnership with Informatica
Expanded Partnership: Mastech Digital has formed an expanded strategic partnership with Informatica to provide AI-led solutions for global clients, focusing on data modernization and integration.
Technological Evolution: The collaboration aims to position Mastech as a Data and AI-first technology partner, utilizing Informatica’s Intelligent Data Management Cloud platform to enhance enterprise data integration and analytics.
Mastech Digital Strengthens Strategic Partnership with Informatica to Accelerate AI-Led IT Transformation Solutions
Partnership Announcement: Mastech Digital has expanded its strategic partnership with Informatica to deliver AI-driven data management solutions aimed at accelerating digital transformation for clients in various industries, including healthcare and manufacturing.
Client-Focused Solutions: The collaboration will provide industry-specific solutions and a co-branded AI and Data outcomes lab, enabling clients to quickly adopt AI technologies and achieve measurable business results through integrated data and IT transformation services.
Mastech Digital, Inc. to Discuss Fourth Quarter and Full Year 2024 Financial Results on February 19, 2025
Conference Call Announcement: Mastech Digital, Inc. has scheduled a conference call for February 19, 2025, at 9:00 a.m. ET to discuss its fourth quarter and full year financial results for 2024, hosted by CEO Nirav Patel and CFO Jack Cronin.
Company Overview: Mastech Digital is a leading provider of Digital Transformation IT Services, offering solutions in Data Management, Analytics, Digital Learning, and IT Staffing, with operations in the U.S., Canada, Europe, and India.
Mastech Digital Announces New Employee Inducement Grant Under NYSE American Listed Company Guide Rule Sec. 711
Stock Options Awarded: Mastech Digital, Inc. announced the granting of non-qualified stock options to its new President and CEO, Nirav Patel, allowing him to purchase up to 702,358 shares of common stock, with a vesting schedule based on time and company market capitalization milestones.
Company Overview: Mastech Digital specializes in Digital Transformation Services, providing technology talent and solutions globally, with headquarters in Pittsburgh, PA, and delivery centers in North America and India.
