Yahoo Finance CACI International (CACI) Secures Contract Worth $1.3B From DoD
CACI International Inc. CACI has secured a five-year task order worth $1.3 billion from the Department of Defense (DoD). Under this new contract, CACI will provide communications and IT support to DoD’s U.S. Africa Command (“USAFRICOM”) and U.S. European Command (“USEUCOM”).
The company will improve software and hardware, optimize network and communication systems, and support more than 11,000 users across 60 locations in Europe and Africa. This includes enabling cloud services, deploying edge computing, integrating Commercial Solutions for Classified and Joint All Domain Command and Control concepts, and implementing advanced cybersecurity and zero trust solutions.
CACI has a history of providing agile IT and communications solutions in diverse overseas operations. Its support will enable DoD’s two wings, USAFRICOM and USEUCOM, to conclude operations globally with NATO. These solutions will help the United States and NATO prevent conflict and address crises.
CACI International, Inc. Price and Consensus
CACI International, Inc. price-consensus-chart | CACI International, Inc. Quote
CACI International has been gaining from the increasing number of $1-billion-plus contracts. The recent contract of $1.3 billion follows three such $1 billion-plus contracts. These large deals that span over multiple years lower fluctuation in CACI’s revenues and provide stability to its business.
These $1-billion-plus task orders were mostly from the Department of Defense. The list of contracts includes a $5.7 billion contract with the Air Force, a $2.7 billion deal with the National Security Agency and a $1.2 billion agreement with the Naval Information Warfare Systems Command.
A significant portion of CACI’s revenues comes from DoD. This government entity has been consistently contributing approximately two-third of its revenues. In fiscals 2021, 2022 and 2023, DoD revenues contributed 69.2%, 69.8% and 71.9%, respectively, of the company’s total revenues.
Zacks Rank and Other Stocks to Consider
Currently, CACI International carries a Zacks Rank #2 (Buy). Shares of CACI have returned 22.9% in the past year.
Some other top-ranked stocks from the broader technology sector are Dell Technologies DELL, NVIDIA NVDA and Bentley Systems BSY. While DELL sports a Zacks Rank #1 (Strong Buy), NVDA and BSY carry a Zacks Rank #2 each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for DELL’s 2024 earnings per share has been revised upward by 54 cents to $7.64 in the past 60 days. Shares of DELL have surged 170.7% in the past year.
The Zacks Consensus Estimate for NVIDIA’s 2025 earnings per share has been revised upward by 10cents to $23.94 in the past seven days. Shares of NVDA have skyrocketed 194.1% in the past year.
The Zacks Consensus Estimate for Bentley Systems' 2024 earnings per share has been revised downward by a penny to $1.01 in the past 30 days. Shares of BSY have gained 26.1% in the past year.
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