CACI Secures $514M Contract for Modernizing US Army Networks
CACI wins a $514 million contract to deliver enterprise technology needed for the network modernization of the outside plant infrastructure and facilities across major U.S. Army locations.
CACI International Inc. CACI recently secured a $514 million single-award task order from the U.S. Army. Per the contract, the company would help the U.S. Army modernize their outside plant ("OSP") infrastructure and facilities so that they can have more fiber optic cables for communications.
CACI will deliver enterprise technology needed for the fiber optic cable infrastructure that supports high-speed voice, video and data networks for critical command and control systems. The contract has a five-year term period, which includes a one-year base and four one-year options.
CACI would provide network modernization of the OSP infrastructure and facilities across major U.S. Army locations within the United States. Per the terms of the deal, the company would deliver enterprise technologies across at least 40 U.S. Army locations.
Contracts Keep Flowing for CACI
CACI has been winning several deals, which reflect its disciplined business development actions, consistent operational excellence and high customer satisfaction. The reliability provided by the company’s services makes it a preferred choice among contractors.
In the last reported quarter, CACI secured several notable contracts. These include a five-year, $209-million single-award contract by one of the armed services to continue to provide agile development, systems integration, and cloud migration for accounting and financial management systems. It was awarded a five-year task order worth $54 million to provide mission expertise to support customers in the areas of mathematical, statistical, engineering, physical, and life sciences analysis and program management.
CACI also won a prime position on a $575 million, six-year multiple-award, indefinite delivery, indefinite quantity contract by the U.S. Deputy Chief of Naval Operations. Under the contract, the company will provide enterprise expertise to ensure sailor readiness and help implement the broad transformation of the MyNavy HR information system.
These back-to-back wins are key catalysts driving success for the company. CACI has a large pipeline of new projects and continues to win deals at regular intervals. As of Sep 30, 2021, its total backlog was $23.9 billion.
Zacks Rank & Stocks to Consider
Currently, CACI carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader technology sector include Broadcom AVGO, Apple AAPL and Jabil JBL. While Broadcom sports a Zacks Rank #1 (Strong Buy), Apple and Jabil each carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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