Zacks Investment Research upgraded shares of CACI International (NYSE:CACI) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. The brokerage currently has $160.00 target price on the information technology services provider’s stock.
According to Zacks, “CACI International reported solid second-quarter fiscal 2018 results with healthy year-over-year increase in both earnings and revenues on the back of diligent execution of operational plans. CACI International intends to drive operational excellence by intensively focusing on its organic and inorganic growth strategy and strengthening its existing customer relationships while building newer ones. Cyber attacks are creating increased awareness, leading to more demand for cyber solutions. CACI International also remains focused on its strategy to grow in larger markets and leverage mergers and acquisitions to further increase its market share. In addition, the company anticipates to significantly benefit from its cost-reduction program. The company has outperformed the industry in the last three months. However, macroeconomic challenges, foreign currency volatility and regulatory pressure remain potential headwinds for CACI International.”
CACI has been the subject of a number of other reports. Noble Financial restated a buy rating on shares of CACI International in a report on Monday, November 13th. Cowen restated a buy rating and set a $152.00 price target on shares of CACI International in a report on Thursday, October 12th. Loop Capital upped their price target on shares of CACI International to $140.00 in a report on Wednesday, January 3rd. Jefferies Group restated a buy rating and set a $154.00 price target on shares of CACI International in a report on Tuesday, October 24th. Finally, Stifel Nicolaus restated a buy rating and set a $151.00 price target on shares of CACI International in a report on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $152.55.
CACI International (NYSE:CACI) last posted its earnings results on Wednesday, January 31st. The information technology services provider reported $2.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.29 by ($0.29). CACI International had a return on equity of 9.64% and a net margin of 6.13%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company earned $1.69 earnings per share. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. equities analysts anticipate that CACI International will post 11.14 EPS for the current fiscal year.
In related news, Director J Phillip London sold 11,161 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $145.00, for a total value of $1,618,345.00. Following the completion of the sale, the director now owns 75,000 shares in the company, valued at $10,875,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Thomas A. Mutryn sold 4,743 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $150.00, for a total transaction of $711,450.00. Following the completion of the sale, the chief financial officer now owns 37,555 shares of the company’s stock, valued at approximately $5,633,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,995 shares of company stock valued at $2,341,084. 1.44% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado bought a new stake in shares of CACI International in the fourth quarter valued at about $207,000. Alps Advisors Inc. bought a new stake in shares of CACI International in the fourth quarter valued at about $212,000. Bessemer Group Inc. bought a new stake in shares of CACI International in the fourth quarter valued at about $225,000. Wedge Capital Management L L P NC lifted its stake in shares of CACI International by 18.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 3,165 shares of the information technology services provider’s stock valued at $419,000 after buying an additional 490 shares during the period. Finally, NorthCoast Asset Management LLC bought a new stake in shares of CACI International in the fourth quarter valued at about $568,000. Institutional investors and hedge funds own 88.34% of the company’s stock.
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About CACI International
CACI International Inc is a simulation technology company. The Company provides information solutions and services. The Company operates through two segments: domestic operations and international operations. It serves clients in the United States federal government and commercial markets, primarily throughout North America and internationally on behalf of the United States customers, as well as in the United Kingdom and the Netherlands.
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