CACI International (NYSE:CACI) Shares Up 4.6% on Better-Than-Expected Earnings

CACI International Inc (NYSE:CACI)’s stock price shot up 4.6% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $403.85 and last traded at $396.84. 53,593 shares changed hands during trading, a decline of 56% from the average session volume of 121,172 shares. The stock had previously closed at $379.38.

The information technology services provider reported $5.74 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.19. CACI International had a net margin of 5.31% and a return on equity of 13.65%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the firm earned $4.92 EPS. The business’s revenue was up 11.1% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of CACI International from $387.00 to $410.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Jefferies Financial Group lowered shares of CACI International from a “buy” rating to a “hold” rating and reduced their price target for the stock from $375.00 to $350.00 in a research report on Wednesday, January 3rd. Stifel Nicolaus increased their price target on shares of CACI International from $390.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday. StockNews.com lowered shares of CACI International from a “buy” rating to a “hold” rating in a research report on Monday, April 15th. Finally, Truist Financial increased their price target on shares of CACI International from $385.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $400.82.

Insider Activity

In other news, EVP J William Koegel, Jr. sold 500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $377.48, for a total transaction of $188,740.00. Following the completion of the transaction, the executive vice president now owns 23,385 shares of the company’s stock, valued at $8,827,369.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gregory G. Johnson sold 150 shares of CACI International stock in a transaction on Monday, February 12th. The shares were sold at an average price of $361.69, for a total transaction of $54,253.50. Following the completion of the transaction, the director now owns 6,446 shares of the company’s stock, valued at $2,331,453.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP J William Koegel, Jr. sold 500 shares of CACI International stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $377.48, for a total transaction of $188,740.00. Following the transaction, the executive vice president now directly owns 23,385 shares of the company’s stock, valued at approximately $8,827,369.80. The disclosure for this sale can be found here. Insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On CACI International

Hedge funds have recently bought and sold shares of the company. Fort Washington Investment Advisors Inc. OH bought a new stake in CACI International in the fourth quarter valued at $18,360,000. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in CACI International in the third quarter valued at $12,950,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in CACI International in the third quarter valued at $12,267,000. Bank of New York Mellon Corp increased its stake in CACI International by 3.6% in the third quarter. Bank of New York Mellon Corp now owns 680,633 shares of the information technology services provider’s stock valued at $213,671,000 after purchasing an additional 23,521 shares in the last quarter. Finally, Ophir Asset Management Pty Ltd increased its stake in CACI International by 12.9% in the fourth quarter. Ophir Asset Management Pty Ltd now owns 66,359 shares of the information technology services provider’s stock valued at $21,491,000 after purchasing an additional 7,596 shares in the last quarter. Institutional investors own 86.43% of the company’s stock.

CACI International Trading Up 4.3 %

The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $8.81 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.90 and a beta of 0.89. The firm’s 50 day simple moving average is $371.27 and its two-hundred day simple moving average is $344.37.

About CACI International

CACI International Inc, together with its subsidiaries, provides expertise and technology to enterprise and mission customers in support of national security missions and government modernization/transformation in the intelligence, defense, and federal civilian sectors. It operates through two segments: Domestic Operations and International Operations.