Yahoo Finance CACI Wins DCSA's $2.25 Billion Background Investigation Order
CACI International Inc. CACI recently received a $2.25 billion background investigation fieldwork services contract from the United States Department of Defense’s (DoD) Defense Counterintelligence and Security Agency (DCSA).
Per the indefinite delivery/indefinite quantity contract, CACI will perform security clearance background investigations, including threat identification and prevention of infiltration of government facilities, in support of the U.S. national security through 2028.
The single award task order will enable more than 1,000 CACI investigators to conduct background investigations on civilian and military applicants, federal employees/employees of government contractors and consultants to federal programs. The defense company will take on both initial investigations and periodic reinvestigations for the federal security and defense agency in all the 50 states of the United States, Washington, DC, commonwealths and U.S. Trust Territories.
CACI International, Inc. Price and Consensus
CACI International, Inc. price-consensus-chart | CACI International, Inc. Quote
The DCSA is the federal government’s largest counterintelligence and security agency responsible for providing Personnel Vetting and Critical Technology Protection, supported by Counterintelligence and Training, Education and Certification functions. The agency services over 100 federal entities, oversees 10,000 cleared companies and conducts approximately 2 million background investigations each year.
CACI has been winning a record number of deals for a while, reflecting its disciplined business development actions, consistent operational excellence and high customer satisfaction. The reliability provided by CACI’s services makes it a preferred choice among contractors.
In the first quarter fiscal 2023, CACI won contracts worth $3.2 billion. Management secured several notable deals, including a $5.71 billion blanket purchase agreement from the U.S. Air Force to provide enterprise IT services under the Enterprise Information Technology as a Service Wave 1 contract. The 10-year award is aimed at the transition of the Air Force from an in-house, base-centric, capabilities-based IT delivery model to an enterprise service delivery model to deliver secure, high-quality, cost-effective services that enable mission success improving end-user experience.
The company clinched a $174 million contract to offer mission expertise and innovative solutions to the U.S. Navy Military Sealift Command for the advancement of naval ship machinery, systems, equipment and structural performance while reducing costs.
In the fiscal first quarter, CACI was awarded a $54.6 million research and analysis task order from the U.S. DoD’s Information Analysis Center (IAC). Per the contract, which is part of IAC’s Multiple Award Contract (MAC) vehicle, CACI aims to provide mission expertise solutions to the U.S. Army Futures Command’s (AFC) Assured Positioning, Navigation, Timing and Space (APNT/Space) Cross Functional Team (CFT) at Redstone Arsenal in Huntsville, AL.
These back-to-back wins are the key catalysts for the company, which boasts a large pipeline of new projects and wins deals at regular intervals. As of Sep 30, 2022, its total backlog was $24.9 billion.
Zacks Rank & Stocks to Consider
CACI currently carries a Zacks Rank #3 (Hold). Shares of CACI have jumped 13.4% in the past year.
Some top-ranked stocks from the broader Computer and Technology sector are Bandwidth BAND, Clearfield CLFD and Zscaler ZS. While Bandwidth and Clearfield sport a Zacks Rank #1 (Strong Buy), Zscaler carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Bandwidth’s fourth-quarter 2022 earnings has been revised by a penny to 4 cents per share over the past 60 days. For 2022, earnings estimates have moved north by 25 cents to 37 cents per share in the past 30 days.
BAND's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 301.8%. Shares of the company have declined 66.8% in the past year.
The Zacks Consensus Estimate for Clearfield's first-quarter fiscal 2023 earnings has been revised 15 cents northward to $1.02 per share over the past 60 days. For fiscal 2023, earnings estimates have improved by 37.5% to $4.95 per share over the past 60 days.
CLFD’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 39.7%. Shares of the company have risen 21.8% in the past year.
The Zacks Consensus Estimate for Zscaler's first-quarter fiscal 2023 earnings has been revised 3 cents north to 29 cents per share over the past 30 days. For fiscal 2023, earnings estimates have moved north by 6 cents to $1.23 per share in the past 30 days.
ZS' earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 28.6%. Shares of the company have declined 59.9% in the past year.
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