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CACI Wins $700M Contract From Department of Homeland Security

CACI International CACI has been recently chosen as a contractor in a $700-million multiple-award Blanket Purchase Agreement from the Department of Homeland Security (DHS). The award has a base period of five years.

Per the terms of the deal, the company will provide enterprise technology that will support the department in national security investigations.

The company in its press release stated, “CACI will support the full range of case types for DHS and their components. This award also expands the set of government customers to whom CACI provides national security investigations, which includes the U.S. Department of Defense (DoD) and Intelligence Community (IC).”

CACI International, Inc. Price

CACI International, Inc. price | CACI International, Inc. Quote

Contracts Keep Flowing for CACI

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.

Markedly, in the last reported quarter, CACI secured a number of notable contracts. These included a five-year, $447-million task order to provide acquisition mission technology. It also won a seven-year task order worth $376 million to provide mission technology to modernize a federal customer’s web-based supply chain system.

These back-to-back wins are the key catalysts driving success perennially for the company. The company’s wins as a prime contractor in most of its deals are a positive. In the last reported quarter, revenues generated as a prime contractor accounted for 90.4% of the total revenues.

CACI has a large pipeline of new projects and continues to win deals at regular intervals. Notably, as of Dec 31, 2020, its total backlog was $22.4 billion.

Bright Prospects 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 $2.1 billion in second-quarter fiscal 2021.

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 favorable relationship with the Department of Defense. Moreover, cyberattacks are creating increased awareness, leading to more demand for cybersecurity solutions.

CACI currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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