CACI International, Inc. (NYSE:CACI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, July 19th. The brokerage currently has a $143.00 price target on the information technology services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.02% from the company’s previous close.
According to Zacks, “CACI International has outperformed the industry in the past month with diligent execution of operational plans. The company 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. The company further anticipates to significantly benefit from its cost-reduction program and increased its earlier guidance for fiscal 2017. CACI International also remains focused on its strategy to grow in larger markets, drive operational excellence, and leverage mergers and acquisitions to increase its market share and create long-term value for its shareholders. However, macroeconomic challenges, foreign currency volatility and regulatory pressure remain potential headwinds for the company. CACI International has to continuously invest in value drivers that act as a hedge against competition.”
A number of other research analysts have also issued reports on CACI. Jefferies Group LLC raised shares of CACI International from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a research note on Monday, July 17th. Noble Financial reiterated a “buy” rating on shares of CACI International in a report on Saturday, June 24th. Maxim Group reissued a “buy” rating and issued a $161.00 target price on shares of CACI International in a research report on Thursday, June 22nd. Cowen and Company reissued an “outperform” rating and issued a $145.00 target price on shares of CACI International in a research report on Monday, June 19th. Finally, ValuEngine upgraded shares of CACI International from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. CACI International presently has an average rating of “Buy” and a consensus price target of $125.33.
Shares of CACI International (CACI) traded up 0.98% during midday trading on Wednesday, hitting $128.80. 329,606 shares of the stock were exchanged. The company has a market cap of $3.15 billion, a PE ratio of 19.76 and a beta of 1.57. The firm has a 50-day moving average price of $127.24 and a 200-day moving average price of $123.87. CACI International has a 12-month low of $92.65 and a 12-month high of $135.35.
In related news, Director Gregory G. Johnson sold 355 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $127.00, for a total value of $45,085.00. Following the sale, the director now directly owns 4,965 shares in the company, valued at approximately $630,555. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.15% of the company’s stock.
Several institutional investors have recently modified their holdings of CACI. State Street Corp boosted its position in shares of CACI International by 3.6% in the second quarter. State Street Corp now owns 601,924 shares of the information technology services provider’s stock valued at $75,282,000 after buying an additional 21,125 shares in the last quarter. Bank of New York Mellon Corp boosted its position in CACI International by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 483,033 shares of the information technology services provider’s stock valued at $60,403,000 after buying an additional 2,805 shares in the last quarter. Norges Bank purchased a new position in CACI International during the fourth quarter valued at $46,091,000. Ameriprise Financial Inc. boosted its position in CACI International by 0.6% in the second quarter. Ameriprise Financial Inc. now owns 345,420 shares of the information technology services provider’s stock valued at $43,194,000 after buying an additional 1,989 shares in the last quarter. Finally, Prudential PLC boosted its position in CACI International by 33.7% in the second quarter. Prudential PLC now owns 213,500 shares of the information technology services provider’s stock worth $26,698,000 after buying an additional 53,800 shares during the period. 88.96% of the stock is owned by institutional investors.
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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