CACI International (NYSE:CACI) Stock Price Up 7.2% Following Earnings Beat

CACI International Inc (NYSE:CACI)’s share price rose 7.2% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $570.28 and last traded at $562.00. Approximately 18,586 shares traded hands during trading, a decline of 83% from the average daily volume of 110,527 shares. The stock had previously closed at $524.10.

The information technology services provider reported $5.93 earnings per share for the quarter, topping analysts’ consensus estimates of $5.08 by $0.85. CACI International had a net margin of 5.48% and a return on equity of 14.31%. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the business earned $4.36 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CACI shares. Robert W. Baird increased their price objective on CACI International from $533.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday. Wells Fargo & Company raised their price target on CACI International from $525.00 to $577.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Truist Financial restated a “buy” rating and issued a $650.00 price objective (up from $520.00) on shares of CACI International in a research report on Friday. TD Cowen increased their price target on shares of CACI International from $545.00 to $570.00 and gave the stock a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on shares of CACI International from $520.00 to $555.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $534.70.

Insiders Place Their Bets

In related news, CEO John S. Mengucci sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $463.18, for a total transaction of $4,631,800.00. Following the transaction, the chief executive officer now directly owns 91,368 shares in the company, valued at $42,319,830.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gregory G. Johnson sold 300 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $471.00, for a total transaction of $141,300.00. Following the completion of the sale, the director now directly owns 5,910 shares in the company, valued at approximately $2,783,610. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John S. Mengucci sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $463.18, for a total value of $4,631,800.00. Following the completion of the sale, the chief executive officer now directly owns 91,368 shares in the company, valued at $42,319,830.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,270 shares of company stock valued at $10,165,972 over the last three months. Insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On CACI International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UMB Bank n.a. lifted its holdings in shares of CACI International by 81.4% during the 3rd quarter. UMB Bank n.a. now owns 78 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 35 shares during the period. Versant Capital Management Inc boosted its position in CACI International by 900.0% in the second quarter. Versant Capital Management Inc now owns 100 shares of the information technology services provider’s stock worth $43,000 after purchasing an additional 90 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its position in CACI International by 35.1% in the second quarter. GPS Wealth Strategies Group LLC now owns 404 shares of the information technology services provider’s stock worth $174,000 after purchasing an additional 105 shares during the last quarter. Argent Capital Management LLC bought a new stake in shares of CACI International during the 3rd quarter valued at about $208,000. Finally, Covestor Ltd increased its holdings in CACI International by 8.9% during the first quarter. Covestor Ltd now owns 624 shares of the information technology services provider’s stock valued at $237,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 86.43% of the company’s stock.

CACI International Stock Down 0.9 %

The company’s 50-day simple moving average is $496.80 and its two-hundred day simple moving average is $450.22. The firm has a market capitalization of $12.20 billion, a P/E ratio of 31.62, a P/E/G ratio of 2.22 and a beta of 0.93. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.27 and a quick ratio of 1.27.

CACI International Company Profile

CACI International Inc, through its subsidiaries, engages in the provision of expertise and technology to enterprise and mission customers in support of national security in the intelligence, defense, and federal civilian sectors. The company operates through two segments, Domestic Operations and International Operations.