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CACI Grabs $917M Air Force Contract to Advance C5ISR Program
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CACI International (CACI - Free Report) recently secured a contract from the U.S. Air Force’s Research Laboratory (“AFRL”). Per the contract, CACI will continue to provide software and systems to advance and modernize AFRL’s command, control, communications, computers, cyber, intelligence, surveillance and reconnaissance (C5ISR) programs.
The contract will run over the next five years and has a maximum ceiling value of $917 million. Under the terms of the deal, CACI will implement agile and adaptable processes to develop mission software and data analysis capabilities to advance and modernize AFRL’s C5ISR programs.
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 August 2023, CACI won a five-year contract worth $125 million to provide C5ISR support to the U.S. Naval Air Warfare Center Aircraft Division. In the same month, the company grabbed a $2.7 billion contract from the National Security Agency to provide intelligence analysis.
In 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 also secured a single-award contract from the U.S. Navy in the last fiscal. The indefinite delivery/indefinite quantity contract, which is called Spectral, will run over the next seven years and is worth up to $1.2 billion.
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 fourth quarter of fiscal 2023, this Zacks Rank #3 (Hold) company won contracts worth $2.3 billion and ended the fiscal with a total backlog of $25.8 billion.
The Zacks Consensus Estimate for NVIDIA's third-quarter fiscal 2024 earnings has been revised upward by 8 cents to $3.32 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 21 cents to $10.67 per share in the past 30 days.
NVIDIA’s earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing on one occasion, the average surprise being 9.8%. Shares of NVDA have surged 206.5% YTD.
The Zacks Consensus Estimate for Paylocity’s first-quarter fiscal 2024 earnings has remained unchanged at $1.07 per share in the past 60 days. For fiscal 2024, earnings estimates have moved 10 cents upward to $5.58 per share in the past 60 days.
Paylocity’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 39.7%. Shares of PCTY have declined 4.7% YTD.
The Zacks Consensus Estimate for Palo Alto Networks' first-quarter fiscal 2024 earnings has been revised upward by 6 cents to $1.16 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 38 cents to $5.34 per share in the past 60 days.
Palo Alto Networks’ earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 22.2%. Shares of PANW have surged 69.7% YTD.
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CACI Grabs $917M Air Force Contract to Advance C5ISR Program
CACI International (CACI - Free Report) recently secured a contract from the U.S. Air Force’s Research Laboratory (“AFRL”). Per the contract, CACI will continue to provide software and systems to advance and modernize AFRL’s command, control, communications, computers, cyber, intelligence, surveillance and reconnaissance (C5ISR) programs.
The contract will run over the next five years and has a maximum ceiling value of $917 million. Under the terms of the deal, CACI will implement agile and adaptable processes to develop mission software and data analysis capabilities to advance and modernize AFRL’s C5ISR programs.
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.
CACI International, Inc. Price and Consensus
CACI International, Inc. price-consensus-chart | CACI International, Inc. Quote
In August 2023, CACI won a five-year contract worth $125 million to provide C5ISR support to the U.S. Naval Air Warfare Center Aircraft Division. In the same month, the company grabbed a $2.7 billion contract from the National Security Agency to provide intelligence analysis.
In 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 also secured a single-award contract from the U.S. Navy in the last fiscal. The indefinite delivery/indefinite quantity contract, which is called Spectral, will run over the next seven years and is worth up to $1.2 billion.
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 fourth quarter of fiscal 2023, this Zacks Rank #3 (Hold) company won contracts worth $2.3 billion and ended the fiscal with a total backlog of $25.8 billion.
Stocks to Consider
Some better-ranked stocks from the broader technology sector are NVIDIA (NVDA - Free Report) , Paylocity Holding (PCTY - Free Report) and Palo Alto Networks (PANW - Free Report) . NVIDIA and Paylocity each sport a Zacks Rank #1 (Strong Buy), while Palo Alto Networks carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NVIDIA's third-quarter fiscal 2024 earnings has been revised upward by 8 cents to $3.32 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 21 cents to $10.67 per share in the past 30 days.
NVIDIA’s earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing on one occasion, the average surprise being 9.8%. Shares of NVDA have surged 206.5% YTD.
The Zacks Consensus Estimate for Paylocity’s first-quarter fiscal 2024 earnings has remained unchanged at $1.07 per share in the past 60 days. For fiscal 2024, earnings estimates have moved 10 cents upward to $5.58 per share in the past 60 days.
Paylocity’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 39.7%. Shares of PCTY have declined 4.7% YTD.
The Zacks Consensus Estimate for Palo Alto Networks' first-quarter fiscal 2024 earnings has been revised upward by 6 cents to $1.16 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 38 cents to $5.34 per share in the past 60 days.
Palo Alto Networks’ earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 22.2%. Shares of PANW have surged 69.7% YTD.