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Jacobs Wins 3-Year Cybersecurity Support Contract From USPTO
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Jacobs Engineering Group Inc. (J - Free Report) has received a three-year $29-million cybersecurity support contract from the U.S. Patent and Trademark Office (USPTO) to serve the latter’s workforce of 18,000 staff.
Per the contract, Jacobs will offer risk management framework, technical and administrative support, continuous monitoring, vulnerability assessment, threat analytics, as well as security engineering to the agency. Additionally, the company will recommend industry-best practices, and identify process improvement opportunities and innovations with various tools, techniques and procedures.
USPTO has been serving as a critical component of the U.S. economy. The agency issues patents to investors and businesses for their inventions, and trademark registration for intellectual property identification to promote innovation, competitiveness and job growth across the country. Notably, USPTO is a member of the IP5, the five largest IP offices in the world, which together hold at least 80% of the world's patent applications.
Importantly, Jacobs’ Critical Mission Solutions (CMS) unit will support USPTO's enterprise IT environment, while identifying opportunities for improving the security posture of the agency's mission critical systems and applications.
Long-Term Prospects & Impressive Fundamentals Bode Well
Jacobs’ shares have outperformed the industry so far this year. The outperformance is likely to continue in the near term, buoyed by strong backlog, inorganic moves, its transformed portfolio, and increased focus on infrastructure, aerospace, cybersecurity and technical building projects.
The CMS segment has been a major contributor to its revenue growth. Recently, the company reported strong results in the fiscal first quarter on the back of solid segmental performance, acquisitions and cost synergies.
Over the next three years (through 2021), management aims a 125-175 basis points (bps) expansion in adjusted operating margins. The company anticipates a 100-150 bps increase in CMS margins and 110-140 bps growth in People & Places Solutions or P&PS margin, supported by the elimination of ECR.
It projects 3-5% net organic revenue growth, with P&PS contributing 4-6% compound annual growth rate (CAGR) and CMS’ CAGR being 23%. The top-line growth is expected to be driven by recurring revenues that roughly occupy two-thirds of Jacobs’ total revenues, in turn reducing the overall risks of market volatility.
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Jacobs Wins 3-Year Cybersecurity Support Contract From USPTO
Jacobs Engineering Group Inc. (J - Free Report) has received a three-year $29-million cybersecurity support contract from the U.S. Patent and Trademark Office (USPTO) to serve the latter’s workforce of 18,000 staff.
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Per the contract, Jacobs will offer risk management framework, technical and administrative support, continuous monitoring, vulnerability assessment, threat analytics, as well as security engineering to the agency. Additionally, the company will recommend industry-best practices, and identify process improvement opportunities and innovations with various tools, techniques and procedures.
USPTO has been serving as a critical component of the U.S. economy. The agency issues patents to investors and businesses for their inventions, and trademark registration for intellectual property identification to promote innovation, competitiveness and job growth across the country. Notably, USPTO is a member of the IP5, the five largest IP offices in the world, which together hold at least 80% of the world's patent applications.
Importantly, Jacobs’ Critical Mission Solutions (CMS) unit will support USPTO's enterprise IT environment, while identifying opportunities for improving the security posture of the agency's mission critical systems and applications.
Long-Term Prospects & Impressive Fundamentals Bode Well
Jacobs’ shares have outperformed the industry so far this year. The outperformance is likely to continue in the near term, buoyed by strong backlog, inorganic moves, its transformed portfolio, and increased focus on infrastructure, aerospace, cybersecurity and technical building projects.
The CMS segment has been a major contributor to its revenue growth. Recently, the company reported strong results in the fiscal first quarter on the back of solid segmental performance, acquisitions and cost synergies.
Over the next three years (through 2021), management aims a 125-175 basis points (bps) expansion in adjusted operating margins. The company anticipates a 100-150 bps increase in CMS margins and 110-140 bps growth in People & Places Solutions or P&PS margin, supported by the elimination of ECR.
It projects 3-5% net organic revenue growth, with P&PS contributing 4-6% compound annual growth rate (CAGR) and CMS’ CAGR being 23%. The top-line growth is expected to be driven by recurring revenues that roughly occupy two-thirds of Jacobs’ total revenues, in turn reducing the overall risks of market volatility.
Zacks Rank
Jacobs — which shares space with AECOM (ACM - Free Report) , KBR, Inc. (KBR - Free Report) and Fluor Corporation (FLR - Free Report) in the same industry — currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Today's Best Stocks from Zacks
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This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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