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CACI Wins DARPA's $20 Million Mission Support Task Order

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CACI International Inc. (CACI - Free Report) recently secured a $20.4-million task order from the Defense Advanced Research Projects Agency (DARPA). Per the contract, CACI will provide technology, research, development and innovation solutions in support of the agency’s Mission-Integrated Network Control (MINC) program.

CACI will develop software to create a secure network for command and control of heterogeneous networks. Management will offer an overarching framework to enable rapid utilization of resources across the agencies’ services, underpinning missions to aid Joint All Domain Command and Control (JADC2).

Awarded in third-quarter fiscal 2022, the latest defense contract win further reinforces CACI’s position as a reliable mission contractor.

CACI on a Contract Winning Spree

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 the contractors.

In the last reported quarter, CACI was awarded $3.2-billion worth contracts. Management secured a number of notable deals, including a five-year, single award worth more than $323 million to continue providing high-end research and development support with an expanded scope of work for a classified customer’s mission objective.

CACI also clinched a three-year, single award task order worth $258 million to expand its current enterprise technology support and continue modernizing the financial management efforts and end-to-end business processes at the Defense Agencies Initiative (DAI) program office.

In the last reported quarter, CACI won another similar contract worth $20 million to build and demonstrate software while also providing technology, research, development and innovation for securing command and control of heterogeneous networks to back JADC2 missions.

These back-to-back wins are the key catalysts for CACI, boasting a large pipeline of new projects and deal wins at regular intervals. As of Mar 31, 2022, its total backlog was $23.5 billion.

Zacks Rank & Key Picks

CACI currently carries a Zacks Rank #3 (Hold). Shares of CACI have declined 0.5% in the past year.

Some better-ranked stocks from the broader Computer and Technology sector are Avnet (AVT - Free Report) , Gogo (GOGO - Free Report) and Analog Devices (ADI - Free Report) . While Avnet sports a Zacks Rank #1 (Strong Buy), Gogo and Analog Devices carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Avnet's fourth-quarter fiscal 2022 earnings has been revised 55 cents northward to $1.96 per share over the past seven days. For fiscal 2022, earnings estimates have moved 20.5% north to $6.83 per share in the past seven days.

Avnet's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average being 21.2%. Shares of AVT have increased 6.5% in the past year.

The Zacks Consensus Estimate for Gogo's first-quarter 2022 earnings has been revised a penny downward to 13 cents per share over the past 30 days. For 2022, earnings estimates have moved a couple of cents south to 63 cents per share in the past seven days.

Gogo's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average being 65%. Shares of GOGO have soared 58.9% in the past year.

The Zacks Consensus Estimate for Analog Devices' second-quarter fiscal 2022 earnings has been revised 4 cents upward to $2.12 per share over the past 30 days. For the full fiscal, earnings estimates have moved 11 cents north to $8.43 per share in the past 30 days.

Analog Devices' earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average being 6%. Shares of ADI have inched up 3.5% in the past year.


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