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CACI Grabs $1.2B Navy Deal for Enhancing Warfare Capabilities
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CACI International (CACI - Free Report) recently secured a single-award contract from the U.S. Navy. The indefinite delivery/indefinite quantity (IDIQ) contract, which is called Spectral, will run over the next seven years and is worth up to $1.2 billion.
Per the mission technology contract, CACI will work with the U.S. Navy for developing and deploying the next generation of shipboard signal intelligence, electronic warfare and information operation weapon systems. The company has planned to adopt the open-architecture approach to provide the U.S. Navy with cutting-edge technologies and support for continuous software enhancement work.
The president of National Security and Innovative Solutions at CACI, Todd Probert, said, “We will use our decades of innovative software experience, world-class Agile software development, and DevSecOps to converge SIGINT, Cyber and EW into scalable, networked, and distributed warfighting capabilities that outpace evolving threats.”
CACI has been winning a record number of deals for a while, reflecting its disciplined business development actions, consistent operational excellence and high customer satisfaction. The reliability provided by CACI’s services makes it a preferred choice among contractors.
In the first three quarters of fiscal 2023, CACI secured several notable deals, including a $5.71 billion blanket purchase agreement from the U.S. Air Force to provide enterprise IT services under the Enterprise Information Technology as a Service Wave 1 contract. The company clinched a $174 million contract to offer mission expertise and innovative solutions to the U.S. Navy Military Sealift Command for the advancement of naval ship machinery, systems, equipment and structural performance while reducing costs.
These back-to-back wins are the key catalysts for the company, which boasts a large pipeline of new projects and wins deals at regular intervals. In the third quarter of fiscal 2023, the company won contracts worth $1.1 billion and ended the quarter with a total backlog of $25.3 billion.
Zacks Rank & Stocks to Consider
CACI currently carries a Zacks Rank #3 (Hold). Shares of the company have rallied 9.8% year to date (YTD).
The Zacks Consensus Estimate for Meta's second-quarter 2023 earnings has been revised 5 cents southward to $2.82 per share in the past 30 days. For 2023, earnings estimates have increased by a penny to $11.94 per share in the past seven days.
Meta’s earnings beat the Zacks Consensus Estimate twice in the preceding four quarters while missing the same on two occasions, the average surprise being 15.5%. Shares of META have surged 134.1% YTD.
The Zacks Consensus Estimate for Manhattan Associates' second-quarter 2023 earnings has been revised upward by a couple of cents to 72 cents per share for the past 60 days. For 2023, earnings estimates have moved upward by 17 cents to $2.87 per share in the past 60 days.
Manhattan Associates' earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 33.6%. Shares of MANH have soared 56.3% YTD.
The Zacks Consensus Estimate for Blackbaud’s second-quarter 2023 earnings has been revised 10 cents northward to 93 cents per share in the past 60 days. For 2023, earnings estimates have increased to $3.75 per share from $3.43 60 days ago.
Blackbaud's earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 10.4%. Shares of BLKB have rallied 19.3 % YTD.
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CACI Grabs $1.2B Navy Deal for Enhancing Warfare Capabilities
CACI International (CACI - Free Report) recently secured a single-award contract from the U.S. Navy. The indefinite delivery/indefinite quantity (IDIQ) contract, which is called Spectral, will run over the next seven years and is worth up to $1.2 billion.
Per the mission technology contract, CACI will work with the U.S. Navy for developing and deploying the next generation of shipboard signal intelligence, electronic warfare and information operation weapon systems. The company has planned to adopt the open-architecture approach to provide the U.S. Navy with cutting-edge technologies and support for continuous software enhancement work.
The president of National Security and Innovative Solutions at CACI, Todd Probert, said, “We will use our decades of innovative software experience, world-class Agile software development, and DevSecOps to converge SIGINT, Cyber and EW into scalable, networked, and distributed warfighting capabilities that outpace evolving threats.”
CACI International, Inc. Price and Consensus
CACI International, Inc. price-consensus-chart | CACI International, Inc. Quote
CACI has been winning a record number of deals for a while, reflecting its disciplined business development actions, consistent operational excellence and high customer satisfaction. The reliability provided by CACI’s services makes it a preferred choice among contractors.
In the first three quarters of fiscal 2023, CACI secured several notable deals, including a $5.71 billion blanket purchase agreement from the U.S. Air Force to provide enterprise IT services under the Enterprise Information Technology as a Service Wave 1 contract. The company clinched a $174 million contract to offer mission expertise and innovative solutions to the U.S. Navy Military Sealift Command for the advancement of naval ship machinery, systems, equipment and structural performance while reducing costs.
These back-to-back wins are the key catalysts for the company, which boasts a large pipeline of new projects and wins deals at regular intervals. In the third quarter of fiscal 2023, the company won contracts worth $1.1 billion and ended the quarter with a total backlog of $25.3 billion.
Zacks Rank & Stocks to Consider
CACI currently carries a Zacks Rank #3 (Hold). Shares of the company have rallied 9.8% year to date (YTD).
Some better-ranked stocks from the broader technology sector are Meta Platforms (META - Free Report) , Manhattan Associates (MANH - Free Report) and Blackbaud (BLKB - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Meta's second-quarter 2023 earnings has been revised 5 cents southward to $2.82 per share in the past 30 days. For 2023, earnings estimates have increased by a penny to $11.94 per share in the past seven days.
Meta’s earnings beat the Zacks Consensus Estimate twice in the preceding four quarters while missing the same on two occasions, the average surprise being 15.5%. Shares of META have surged 134.1% YTD.
The Zacks Consensus Estimate for Manhattan Associates' second-quarter 2023 earnings has been revised upward by a couple of cents to 72 cents per share for the past 60 days. For 2023, earnings estimates have moved upward by 17 cents to $2.87 per share in the past 60 days.
Manhattan Associates' earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 33.6%. Shares of MANH have soared 56.3% YTD.
The Zacks Consensus Estimate for Blackbaud’s second-quarter 2023 earnings has been revised 10 cents northward to 93 cents per share in the past 60 days. For 2023, earnings estimates have increased to $3.75 per share from $3.43 60 days ago.
Blackbaud's earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 10.4%. Shares of BLKB have rallied 19.3 % YTD.