We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Science Applications Wins IT Modernization Contract From FAA
Read MoreHide Full Article
Science Applications International Corp. (SAIC - Free Report) recently received a $378-million, single-award, indefinite-delivery, indefinite-quantity (IDIQ) contract to provide its enterprise IT services to the Federal Aviation Administration (FAA).
The award carries a 10-year performance period. Per the deal, Science Applications will modernize FAA’s 50,000-strong workforce with service-desk support, business and administrative systems infrastructure support, training services, and IT asset management. Science Applications’ automation and predictive analytics-based IT support services will enhance the FAA’s IT user experience.
Science Applications International Corporation Price and Consensus
Science Applications is benefiting from the continuous 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, 2020, the company’s total contract backlog was $15.3 billion.
Furthermore, having the government as a big client lends stability to the business and moderates fluctuation in revenues. Although the government generally has a lengthy approval process, the projects earn money for several years after approval.
Notably, Science Applications reportedly was awarded $2.8 billion in national security contract awards for fiscal 2020. Last month, the company received multiple contracts worth $982 million from the U.S. Naval Sea Systems Command to provide its products and services.
Besides, in March, the company received a three-year contract worth $45.2 million to continue providing technical support for tactical warfare training to various Navy and Marine training formations.
Moreover, in January, the company received a $727-million Common Computing Environment (Cloud One) contract from the U.S. Air Force to aid the transformation of about 800 Air Force and U.S. Army mission applications to the cloud.
Bright Prospects Despite Competition
Competition from CACI International (CACI - Free Report) in the IT services space remains steady. CACI continues to win high-value contracts and received contracts worth $1.4 billion in its March quarter.
In the IT services industry, Science Applications also competes with IBM (IBM - Free Report) and Accenture (ACN - Free Report) , which are among the top IT service providers in the world.
Nonetheless, we believe that the company is comfortably positioned in this space, given its back-to-back contract wins, which are driving the business perennially.
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Shutterstock
Science Applications Wins IT Modernization Contract From FAA
Science Applications International Corp. (SAIC - Free Report) recently received a $378-million, single-award, indefinite-delivery, indefinite-quantity (IDIQ) contract to provide its enterprise IT services to the Federal Aviation Administration (FAA).
The award carries a 10-year performance period. Per the deal, Science Applications will modernize FAA’s 50,000-strong workforce with service-desk support, business and administrative systems infrastructure support, training services, and IT asset management. Science Applications’ automation and predictive analytics-based IT support services will enhance the FAA’s IT user experience.
Science Applications International Corporation Price and Consensus
Science Applications International Corporation price-consensus-chart | Science Applications International Corporation Quote
Contract Wins Boost Growth
Science Applications is benefiting from the continuous 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, 2020, the company’s total contract backlog was $15.3 billion.
Furthermore, having the government as a big client lends stability to the business and moderates fluctuation in revenues. Although the government generally has a lengthy approval process, the projects earn money for several years after approval.
Notably, Science Applications reportedly was awarded $2.8 billion in national security contract awards for fiscal 2020. Last month, the company received multiple contracts worth $982 million from the U.S. Naval Sea Systems Command to provide its products and services.
Besides, in March, the company received a three-year contract worth $45.2 million to continue providing technical support for tactical warfare training to various Navy and Marine training formations.
Moreover, in January, the company received a $727-million Common Computing Environment (Cloud One) contract from the U.S. Air Force to aid the transformation of about 800 Air Force and U.S. Army mission applications to the cloud.
Bright Prospects Despite Competition
Competition from CACI International (CACI - Free Report) in the IT services space remains steady. CACI continues to win high-value contracts and received contracts worth $1.4 billion in its March quarter.
In the IT services industry, Science Applications also competes with IBM (IBM - Free Report) and Accenture (ACN - Free Report) , which are among the top IT service providers in the world.
Nonetheless, we believe that the company is comfortably positioned in this space, given its back-to-back contract wins, which are driving the business perennially.
Science Applications currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>