CACI International (NYSE:CACI) Stock Price Up 7.2% After Better-Than-Expected Earnings

CACI International Inc (NYSE:CACI) shares shot up 7.2% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $570.28 and last traded at $562.00. 18,586 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 110,527 shares. The stock had previously closed at $524.10.

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

Analysts Set New Price Targets

CACI has been the topic of a number of recent analyst reports. TD Cowen increased their target price on CACI International from $545.00 to $570.00 and gave the stock a “buy” rating in a research note on Friday. Robert W. Baird lifted their price objective on shares of CACI International from $533.00 to $640.00 and gave the company an “outperform” rating in a report on Friday. The Goldman Sachs Group upped their target price on shares of CACI International from $471.00 to $520.00 and gave the stock a “neutral” rating in a research note on Friday. Truist Financial reaffirmed a “buy” rating and set a $650.00 price target (up previously from $520.00) on shares of CACI International in a research note on Friday. Finally, JPMorgan Chase & Co. increased their price objective on CACI International from $520.00 to $555.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $534.70.

Insider Buying and Selling at CACI International

In other CACI International news, CEO John S. Mengucci sold 10,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $463.18, for a total transaction of $4,631,800.00. Following the completion of the sale, the chief executive officer now directly owns 91,368 shares of the company’s stock, valued at approximately $42,319,830.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other CACI International news, Director Gregory G. Johnson sold 300 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $471.00, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John S. Mengucci sold 10,000 shares of the business’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 sale, the chief executive officer now owns 91,368 shares in the company, valued at $42,319,830.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,270 shares of company stock valued at $10,165,972. 1.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CACI. UMB Bank n.a. increased its position in shares of CACI International by 81.4% in the 3rd quarter. UMB Bank n.a. now owns 78 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 35 shares during the period. Versant Capital Management Inc increased its holdings in shares of 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 valued at $43,000 after purchasing an additional 90 shares during the period. GPS Wealth Strategies Group LLC raised its stake in shares of 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 acquired a new stake in shares of CACI International during the third quarter worth about $208,000. Finally, Covestor Ltd boosted its position in CACI International by 8.9% in 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 Trading Down 0.9 %

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

About CACI International

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.