CACI stock surged higher on October 29, 2021, after the company reported an earnings beat and a new government Naval contract.
CACI Reports Results for Its Fiscal 2022 First Quarter
On October 27, 2021, CACI International Inc (NYSE: CACI), a leading provider of expertise and technology to government enterprise and mission customers, announced results for its fiscal first quarter ended September 30, 2021.
CACI reported Q1 adjusted EPS of $4.24 versus the consensus estimate of $3.89. The company reported Q1 revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... of $1.5B which matched the consensus estimate.
John Mengucci, CACI’s President and CEO, said, “Our first quarter results are a great start to fiscal year 2022. We delivered another quarter of solid organic revenue growth with strong profitability and robust cash flowThe cash flow statement provides a detailed overview of the cash inflows and outflows of a company over a specified period of time. It includes cash received from operations, inves.... We are investing ahead of customer need, driving healthy contract awards and backlog growth. We continued to execute on our flexible and opportunistic capital deployment strategy, making two acquisitions and completing the $500 million accelerated share repurchase we announced in March. In short, we are delivering on our commitments with a focus on generating long-term shareholder value.”
CACI price target raised to $310 from $290 at Truist
On October 29, 2021, Truist analyst Tobey Sommer raised the firm’s price target on CACI stock to $310 from $290 and keeps a Buy rating on the shares after its Q1 earnings beat. The company’s focus on technology related to the electromagnetic spectrum positions CACI well along a major vector of conflict with near-peers, the analyst tells investors in a research note, adding that his confidence in accelerating organic growth in FY22 was further bolstered by the 1.6-times book-to-bill ratio.
CACI awarded prime position on technical services support contract
On October 26, 2021, CACI International announced that it was awarded a prime position on the U.S. Navy’s Technical Support Services contract supporting Manpower, Personnel, Training and Education. The contract, awarded by the U.S. Deputy Chief of Naval Operations, is a six-year multiple-award, indefinite delivery, indefinite quantity and has a ceiling value of $575M. Under the contract, CACI will continue to provide enterprise expertise to ensure sailor readiness and help implement a broad transformation of the MyNavy HR information system. CACI will also support MyNavy HR’s enterprise technology architecture, portfolio management, data management, business process reengineering, government operations, and operational performance to meet evolving needs.
John Mengucci, CACI President and Chief Executive Officer, said, “CACI’s business analysts and functional experts will ensure sailors have access to critical information for themselves and their families 24/7. Our technical expertise and innovative approach to data and information management improves the end user experience while also increases productivity. CACI has supported MPT&E for more than 25 years and this work directly supports their objective of attracting, training, and retaining highly qualified personnel.”
CACI gets $4.9M program deal from USAF lab for multi-spectral laser technology
On October 19, 2021, CACI International announced that the U.S. Air Force Research Laboratory at Wright-Patterson Air Force Base, Ohio AFRL awarded CACI a 15-month, $4.9M program to advance high-power multi-spectral laser technology in support of improved electro-optical sensors for a variety of military missions. Under the contract, CACI scientists and engineers will develop a high-power laser prototype that emits light over a very broad range of wavelengths in the optical spectrum, spanning a range that goes from the UV spectrum, through the visible spectrum, and into the Short-Wavelength Infrared SWIR.
John Mengucci, CACI President and Chief Executive Officer, said, “We are seeing a strong demand for high-performance lasers that support enhanced functionality for remote sensing systems. Our technology will continue to advance the state of the art with programs like this and bring best-in-class solutions for the Air Force’s current and future needs.”
CACI Awarded All 10 GSA ASTRO Contracts
On October 14, 2021, CACI International Inc (NYSE: CACI) was awarded a prime contract position in all 10 pools on the General Services Administration (GSA) ASTRO indefinite delivery/indefinite quantity contract. ASTRO is a 10-year, multiple-award contract sponsored by the Department of Defense and managed by GSA’s Federal Systems Integration and Management Center.
Relying on the company’s impressive talent and innovative technology, CACI readily supports national security priorities in data operations, artificial intelligence, and lifecycle support, including sustainment and modernization, and ISR.
John Mengucci, CACI President and Chief Executive Officer, said, “As a prime contract awardee, CACI will provide widespread, expertise and technology across air, sea, ground, and space to protect our national interests from emerging threats. The GSA ASTRO contract is an easy-to-use acquisition vehicle designed to allow the U.S. government to quickly and comprehensively address current and future mission needs.”
The GSA ASTRO pools include data operations; mission operations; aviation; space; maritime; ground; systems integration and development; research and development; support services; and training services. Learn more on the details of each pool.
CACI Debuts Two New Counter-Unmanned Aircraft System Technologies
On October 11, 2021, CACI International Inc (NYSE: CACI) announced the release of its latest technologies to mitigate threats from unmanned aircraft systems. The next generation CORIAN 2.0 system and new CORIAN Tactical system, are part of CACI’s SkyTracker® Suite of counter-unmanned aircraft system (C-UAS) technology, combining the latest generation of sensors and effectors for a complete range of autonomous threat coverage. Visit CACI during the AUSA 2021 Annual Meeting and Exposition from Oct. 11-13, 2021 at the Walter E. Washington Convention Center in Washington, D.C., Hall C Booth 3525 to see the technology and learn more.
CORIAN™ 2.0, the next generation fixed-site multi-sensor platform expands on existing CORIAN technologies with improved mechanical design, capability advancements, and integration with other phenomenology. These enhancements extend the range of system effectiveness, provide the ability to guard against multiple, simultaneous threats from standoff distances and easily integrate with other systems, including command and control systems such as forward area air defense command and control (FAAD C2).
CORIAN Tactical, the new system offering both fixed and on-the-move protection against sUAS threats, secures airspace and critical infrastructure in environments ranging from dense population areas to remote locations. With a tailorable and scalable configuration, low size, weight, and power (SWaP) and precise capabilities, the ruggedized system offers expanded mission options that can be installed in less than an hour.
“Backed by the world’s largest threat signals library and over 1200 sensors globally, our experience mitigating C-UAS threats allows us to offer technology for any C-UAS challenge or mission,” said Todd Probert, President of National Security and Innovative Solutions at CACI. “Our newest platforms contain the most advanced technology available in the market to detect, track and defeat emerging threats to our national security, protecting people and places in any environment.”
CACI’s SkyTracker Technology Suite is a family of systems that reliably detect, track, classify and defeat Group 1-5 UAS threats. The technology portfolio enhances operational awareness across high-level UAS threat groups and within a layered defense construct across numerous environments. SkyTracker features purpose-built hardware with easily updated software to provide unique capabilities for both threat detection and precision mitigation.
CACI’s approximately 22,000 talented employees are vigilant in providing the unique expertise and distinctive technology that address our customers’ greatest enterprise and mission challenges. Our culture of good character, innovation, and excellence drives our success and earns us recognition as a Fortune World’s Most Admired Company. As a member of the Fortune 500 Largest Companies, the Russell 1000 Index, and the S&P MidCap 400 Index, we consistently deliver strong shareholder value. Visit us at https://www.caci.com
VIDEO CACI – Ever Vigilant
CACI International says, “CACI’s approximately 22,000 talented employees are vigilant in providing the unique expertise and distinctive technology that address our customers’ greatest enterprise and mission challenges.”
CACI Stock Technical Analysis
The long and short term trends are both positive. This is looking good! We also have had several Pocket Pivot signals (blue dots) over the last few days. Although CACI has an excellent technical rating, it does not present a decent entry opportunity at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when CACI stock is a good entry.