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Science Applications (SAIC) Secures DoD Contract Worth $126M
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Science Applications (SAIC - Free Report) recently received a five-year, $126-million, single-award task order from the Department of Defense Information Analysis Center to provide research and development (R&D) support to the U.S. Army Combat Capabilities Development Command (DEVCOM) Ground Vehicle Systems Center (GVSC).
The company’s R&D and engineering support will help the U.S. Army with modeling and simulation of ground combat systems, among other things.
Science Applications International Corporation Price and Consensus
Science Applications is benefiting from the continued flow of high-value contracts. A record level of awards reflects its disciplined business-development actions, consistent operational excellence and high customer satisfaction. Notably, as of Apr 30, 2021, the company’s total contract backlog was $24 billion.
Furthermore, having the government as a big client lends stability to the business and moderates fluctuation in revenues. Though the government generally has a lengthy approval process, the projects keep earning money for several years after their approvals.
Last month, Science Applications received a major single-award defense contract with an estimated ceiling value of approximately $200 million, to provide laboratory operations and support to the Defense Intelligence Agency.
Moreover, in April, the company received a contract worth $3.6 billion from the U.S. Army to continue supporting the U.S. Army Combat Capabilities Development Command, Aviation & Missile Center (DEVCOM AvMC), Software, Simulation, Systems Engineering and Integration (S3I) Directorate.
Intensifying Competition
Competition from CACI International (CACI - Free Report) in the IT services space is steady. CACI continues to win high-value contracts and received contracts worth $1.6 billion during its third-quarter fiscal 2021.
In the IT services industry, Science Applications 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 the company is comfortably positioned in this space, given its back-to-back contract wins, which are supporting the business perennially.
Science Applications currently carries a Zacks Rank #5 (Strong Sell).
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
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Science Applications (SAIC) Secures DoD Contract Worth $126M
Science Applications (SAIC - Free Report) recently received a five-year, $126-million, single-award task order from the Department of Defense Information Analysis Center to provide research and development (R&D) support to the U.S. Army Combat Capabilities Development Command (DEVCOM) Ground Vehicle Systems Center (GVSC).
The company’s R&D and engineering support will help the U.S. Army with modeling and simulation of ground combat systems, among other things.
Science Applications International Corporation Price and Consensus
Science Applications International Corporation price-consensus-chart | Science Applications International Corporation Quote
Continued Flow of Contracts
Science Applications is benefiting from the continued flow of high-value contracts. A record level of awards reflects its disciplined business-development actions, consistent operational excellence and high customer satisfaction. Notably, as of Apr 30, 2021, the company’s total contract backlog was $24 billion.
Furthermore, having the government as a big client lends stability to the business and moderates fluctuation in revenues. Though the government generally has a lengthy approval process, the projects keep earning money for several years after their approvals.
Last month, Science Applications received a major single-award defense contract with an estimated ceiling value of approximately $200 million, to provide laboratory operations and support to the Defense Intelligence Agency.
Moreover, in April, the company received a contract worth $3.6 billion from the U.S. Army to continue supporting the U.S. Army Combat Capabilities Development Command, Aviation & Missile Center (DEVCOM AvMC), Software, Simulation, Systems Engineering and Integration (S3I) Directorate.
Intensifying Competition
Competition from CACI International (CACI - Free Report) in the IT services space is steady. CACI continues to win high-value contracts and received contracts worth $1.6 billion during its third-quarter fiscal 2021.
In the IT services industry, Science Applications 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 the company is comfortably positioned in this space, given its back-to-back contract wins, which are supporting the business perennially.
Science Applications currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>