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CACI International (CACI) to Modernize DIA's Enterprise Network
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CACI International (CACI - Free Report) recently bagged a contract from the Defense Intelligence Agency (“DIA") for providing technology to the office of the chief information officer. This eight-year deal, named Enterprise Communications Services, falls under the Solutions for the Information Technology Enterprise III contract, which is a flexible and long-term agreement.
In this contract, CACI will cover various intelligence activities across the DIA that include system design, engineering, implementation and maintenance of the latter’s network infrastructure. It will also provide the agency with network modernization support for upgrading DIA’s systems.
This is the second contract from the DIA in the past month. In December 2023, CACI entered into a contract with DIA's National Center for Medical Intelligence (“NCMI”). The five-year contract with DIA NCMI was overseen by the Solutions for Intelligence Analysis 3 Program Management Office under its Indefinite Delivery/Indefinite Quantity contract vehicle.
CACI earns a major portion of its revenues from the Department of Defense, accounting for more than two-thirds of its revenues from this segment. In 2021, 2022 and 2023, the Department of Defense segment contributed 69.2%, 69.8% and 71.9% of the company’s total revenues, respectively.
With back-to-back business wins from the DIA, CACI’s Department of Defense revenues are gaining an organic expansion. Having the government as a major client lends stability to the business and moderates fluctuations in revenues. Our estimates suggest that revenues from the Department of Defense are likely to witness a CAGR of 6% from fiscal 2024 to 2026.
Zacks Rank and Stocks to Consider
Currently, CACI International carries a Zacks Rank #3 (Hold). Shares of CACI have returned 14% in the past year.
The Zacks Consensus Estimate for Apple's first-quarter 2024 earnings per share has remained unchanged at $2.08 for the past 90 days. Shares of AAPL have returned 35.8% in the past year.
The Zacks Consensus Estimate for BlackLine’s fourth-quarter 2023 earnings has been revised by a penny northward to 55 cents per share in the past 30 days. Shares of BL have lost 14.9% in the past year.
The Zacks Consensus Estimate for Arista’s fourth-quarter 2023 earnings has been revised 13 cents northward to $1.70 per share in the past 90 days. Shares of ANET have rallied 115.7% in the past year.
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CACI International (CACI) to Modernize DIA's Enterprise Network
CACI International (CACI - Free Report) recently bagged a contract from the Defense Intelligence Agency (“DIA") for providing technology to the office of the chief information officer. This eight-year deal, named Enterprise Communications Services, falls under the Solutions for the Information Technology Enterprise III contract, which is a flexible and long-term agreement.
In this contract, CACI will cover various intelligence activities across the DIA that include system design, engineering, implementation and maintenance of the latter’s network infrastructure. It will also provide the agency with network modernization support for upgrading DIA’s systems.
This is the second contract from the DIA in the past month. In December 2023, CACI entered into a contract with DIA's National Center for Medical Intelligence (“NCMI”). The five-year contract with DIA NCMI was overseen by the Solutions for Intelligence Analysis 3 Program Management Office under its Indefinite Delivery/Indefinite Quantity contract vehicle.
CACI International, Inc. Price and Consensus
CACI International, Inc. price-consensus-chart | CACI International, Inc. Quote
CACI earns a major portion of its revenues from the Department of Defense, accounting for more than two-thirds of its revenues from this segment. In 2021, 2022 and 2023, the Department of Defense segment contributed 69.2%, 69.8% and 71.9% of the company’s total revenues, respectively.
With back-to-back business wins from the DIA, CACI’s Department of Defense revenues are gaining an organic expansion. Having the government as a major client lends stability to the business and moderates fluctuations in revenues. Our estimates suggest that revenues from the Department of Defense are likely to witness a CAGR of 6% from fiscal 2024 to 2026.
Zacks Rank and Stocks to Consider
Currently, CACI International carries a Zacks Rank #3 (Hold). Shares of CACI have returned 14% in the past year.
Some better-ranked stocks from the broader technology sector are Apple (AAPL - Free Report) , BlackLine (BL - Free Report) and Arista Networks (ANET - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Apple's first-quarter 2024 earnings per share has remained unchanged at $2.08 for the past 90 days. Shares of AAPL have returned 35.8% in the past year.
The Zacks Consensus Estimate for BlackLine’s fourth-quarter 2023 earnings has been revised by a penny northward to 55 cents per share in the past 30 days. Shares of BL have lost 14.9% in the past year.
The Zacks Consensus Estimate for Arista’s fourth-quarter 2023 earnings has been revised 13 cents northward to $1.70 per share in the past 90 days. Shares of ANET have rallied 115.7% in the past year.