Back to top

Image: Bigstock

CACI Secures $373M Contract to Provide Mission Support to SOCOM

Read MoreHide Full Article

CACI International Inc (CACI - Free Report) recently won a $373-million, single-award, eight-year contract by U.S. Special Operations Command (SOCOM). Under the contract, CACI will provide SOCOM with mission expertise, particularly geospatial intelligence analytic support.

Along with this, engineers at CACI will help in maintaining and upgrading SOCOM’s intelligence IT infrastructure.

Contracts Keep Flowing for CACI

CACI has been winning a record level of awards, which reflects its disciplined business development actions, consistent operational excellence and high customer satisfaction. The company’s reliability with contracts makes it a preferred choice among contractors.

Markedly, in the last reported quarter, CACI secured a number of notable contracts. These included a five-year, $447-million task order to provide acquisition mission technology. It also won a seven-year task order worth $376 million to provide mission technology to modernize a federal customer’s web-based supply-chain system.

These back-to-back wins are the key catalysts driving success perennially for the company. The company’s wins as a prime contractor in most of its deals are a positive. In the last reported quarter, revenues generated as a prime contractor accounted for 90.4% of the total revenues.

CACI has a large pipeline of new projects and continues to win deals at regular intervals. Notably, as of Dec 31, 2020, its total backlog was $22.4 billion.

Bright Prospects Despite Competition

Competition from Science Applications (SAIC - Free Report) in the IT services space has been steady. Science Applications continues to win high-value contracts and received contracts worth $2.1 billion in second-quarter fiscal 2021.

In the IT services industry, the company also competes with International Business Machines (IBM - Free Report) and Accenture (ACN - Free Report) , which are among the top IT service providers in the world.

Nonetheless, we believe CACI is comfortably positioned in this space, given its favorable relationship with the Department of Defense. Moreover, cyberattacks are creating increased awareness, leading to more demand for cybersecurity solutions.

Bitcoin, Like the Internet Itself, Could Change Everything

Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.

Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.

See 3 crypto-related stocks now >>