CACI International (NYSE:CACI) Trading Up 4.6% Following Earnings Beat

CACI International Inc (NYSE:CACI - Get Free Report)'s share 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 analysts' consensus estimates of $5.55 by $0.19. CACI International had a net margin of 5.31% and a return on equity of 13.65%. The business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same period last year, the business earned $4.92 EPS. The company's revenue was up 11.1% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

CACI has been the subject of a number of recent analyst reports. Jefferies Financial Group cut shares of CACI International from a "buy" rating to a "hold" rating and lowered their target price for the stock from $375.00 to $350.00 in a research note on Wednesday, January 3rd. Wells Fargo & Company lifted their target price on shares of CACI International from $387.00 to $410.00 and gave the stock an "overweight" rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. lifted their target price on shares of CACI International from $375.00 to $383.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 6th. Truist Financial lifted their target price on shares of CACI International from $385.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group lifted their price objective on shares of CACI International from $379.00 to $425.00 and gave the company a "neutral" rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, CACI International currently has a consensus rating of "Moderate Buy" and an average target price of $400.82.

Insider Buying and Selling at CACI International

In other CACI International news, EVP J William Koegel, Jr. sold 500 shares of the business's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $377.48, for a total transaction of $188,740.00. Following the sale, the executive vice president now directly owns 23,385 shares in the company, valued at $8,827,369.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Gregory G. Johnson sold 150 shares of the company's stock in a transaction that occurred 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 sale, the director now directly owns 6,446 shares in the company, valued at $2,331,453.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP J William Koegel, Jr. sold 500 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 23,385 shares in the company, valued at $8,827,369.80. The disclosure for this sale can be found here. 1.23% of the stock is currently owned by corporate insiders.

Institutional Trading of CACI International

Large investors have recently made changes to their positions in the company. 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 during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in CACI International by 0.8% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 145,141 shares of the information technology services provider's stock valued at $45,563,000 after purchasing an additional 1,139 shares during the last quarter. California Public Employees Retirement System increased its stake in CACI International by 0.5% in the third quarter. California Public Employees Retirement System now owns 129,405 shares of the information technology services provider's stock valued at $40,624,000 after purchasing an additional 630 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in CACI International by 65.2% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 68,139 shares of the information technology services provider's stock valued at $22,067,000 after purchasing an additional 26,887 shares during 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 during the last quarter. 86.43% of the stock is currently owned by hedge funds and other institutional investors.

CACI International Price Performance

The company has a market capitalization of $8.94 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.90 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.32 and a quick ratio of 1.32. The company's 50 day simple moving average is $371.66 and its 200 day simple moving average is $344.62.

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.