U.S. markets closed
  • S&P 500

    4,411.79
    +44.31 (+1.01%)
     
  • Dow 30

    35,061.55
    +238.20 (+0.68%)
     
  • Nasdaq

    14,836.99
    +152.39 (+1.04%)
     
  • Russell 2000

    2,209.65
    +10.17 (+0.46%)
     
  • Crude Oil

    72.17
    +0.26 (+0.36%)
     
  • Gold

    1,802.10
    -3.30 (-0.18%)
     
  • Silver

    25.24
    -0.14 (-0.56%)
     
  • EUR/USD

    1.1770
    -0.0003 (-0.02%)
     
  • 10-Yr Bond

    1.2860
    +0.0210 (+1.66%)
     
  • GBP/USD

    1.3754
    -0.0013 (-0.10%)
     
  • USD/JPY

    110.5100
    +0.3950 (+0.36%)
     
  • BTC-USD

    33,722.43
    +1,059.69 (+3.24%)
     
  • CMC Crypto 200

    786.33
    -7.40 (-0.93%)
     
  • FTSE 100

    7,027.58
    +59.28 (+0.85%)
     
  • Nikkei 225

    27,548.00
    +159.80 (+0.58%)
     

CACI International (CACI) Wins $160M Task Order From USAF

  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

CACI International Inc. CACI recently won a four-and-a-half year task order from the U.S. Air Force, under which it will provide technology support to the Central Command’s Network Operations and Security Center. The contract has a ceiling value of $160 million.

Per the terms of the deal, “CACI will provide enterprise expertise including networking, 24/7 help desk, technical, cyber support” to the U.S. Air Force Central Command. The newly-won contract is an extension of the previous task order for CACI.

According to the company, under the latest task order, it will provide “new expertise in systems engineering and database management, as well as the capability to provide video-teleconference, satellite communications, and network transport support.”

CACI International, Inc. Price and Consensus

CACI International, Inc. Price and Consensus
CACI International, Inc. Price and Consensus

CACI International, Inc. price-consensus-chart | CACI International, Inc. Quote

Contracts Keep Flowing In

CACI has been winning a record level of awards, which reflects its disciplined business development actions, consistent operational excellence and high customer satisfaction. The company’s reliability with contracts makes it a preferred choice among contractors.

Notably, in the last reported quarter, CACI secured several notable contracts. These included a five-year, $450 million single-award from the Department of Homeland Security to provide enterprise technology. The firm also won a six-year single-award by Department of Veteran Affairs worth $152 million.

CACI has a large pipeline of new projects and continues to win deals at regular intervals. Markedly, as of Sep 30, 2020, its total backlog was $21.9 billion. These back-to-back wins are the key catalysts driving success perennially for the company.

CACI Grows Despite Competition

Competition from Science Applications SAIC in the IT services space remains steady. CACI continues to win high-value contracts and received contracts worth $1.8 billion in its last reported quarter.

In the IT services industry, the company also competes with International Business Machines IBM and Accenture ACN, which are among the top IT service providers in the world.

Nonetheless, we believe the company is comfortably positioned in this space, given its favored relationship with the DoD. Moreover, cyberattacks are creating heightened awareness, leading to more demand for cybersecurity solutions.

CACI currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.

See the pot stocks we're targeting >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
International Business Machines Corporation (IBM) : Free Stock Analysis Report
 
Accenture PLC (ACN) : Free Stock Analysis Report
 
CACI International, Inc. (CACI) : Free Stock Analysis Report
 
Science Applications International Corporation (SAIC) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research