CACI International Inc (NYSE:CACI) reported that its President and CEO, John S. Mengucci, sold a total of $4,631,787 worth of company stock on August 19, 2024. The transactions were executed in a series of trades with prices ranging from $462.49 to $465.18 per share.
The sale by Mengucci involved several tranches of CACI common stock. In one of the transactions, he sold 4,747 shares at an average price of $462.49, while another batch of 3,497 shares were sold at an average of $463.34. Additional sales included 1,444 shares at an average price of $464.62 and a final set of 312 shares that went for an average of $465.18 per share. These prices reflect the weighted average sale price within the ranges provided in the footnotes of the filing.
John S. Mengucci, who serves as both the President and CEO of the company, undertook these transactions directly, as indicated in the SEC filing. Following the sales, Mengucci still owns a significant number of shares in the company, demonstrating his ongoing stake in CACI's success.
Investors and market watchers often look to insider transactions such as these for insights into a company's health and the confidence that executives have in their firm's future prospects. While the reasons for Mengucci's stock sale were not disclosed in the filing, such sales can occur for a variety of personal or financial planning reasons.
CACI International, known for its computer integrated systems design services, has been a key player in the technology sector. As of the date of the transaction, the business address for CACI International is listed as Two Reston Overlook, 12021 Sunset Hills Road, Reston, VA.
The details of these transactions are publicly available as part of the company's regulatory filings with the Securities and Exchange Commission. Shareholders and potential investors can access this information for a full understanding of the trades executed by the company's President and CEO.
In other recent news, CACI International Inc has made significant strides in its operations and financial health. The company secured a $239 million task order from the U.S. Army to provide intelligence analysis and operations support to U.S. forces in Europe and Africa over the next six years. This deal will see CACI deliver intelligence expertise across the U.S. European Command (EUCOM) and U.S. Africa Command (AFRICOM) areas, using its DarkBlue Intelligence Suite for enhanced situational awareness.
CACI International also reported significant financial growth in the fourth quarter and fiscal year 2024. The company's revenue surged by 20% in Q4 and 14% for the full fiscal year, surpassing its own guidance. CACI's EBITDA reached nearly $800 million, and its free cash flow surpassed $380 million. The company's backlog rose to a robust $32 billion, marking a 22% year-over-year increase.
Baird has raised its stock price target for CACI International to $544, maintaining an Outperform rating. This optimism stems from CACI's multi-year backlog, hinting at a strong long-term organic growth potential. Looking ahead, CACI projects a revenue growth of 6% to 8.5% for fiscal year 2025, with an expected 11% increase in free cash flow per share. The company's revenue is estimated to be between $7.9 billion and $8.1 billion, with adjusted net income ranging between $505 million and $525 million. These are all recent developments that highlight CACI's growth trajectory and financial health.
InvestingPro Insights
As CACI International Inc's President and CEO, John S. Mengucci, divests a portion of his holdings, investors may be looking for indicators that can provide broader context on the company's financial health and market performance. According to recent data from InvestingPro, CACI boasts a market capitalization of $10.51 billion, underscoring its significant presence in the technology sector. The company's P/E ratio stands at 25.04, which suggests that investors are willing to pay a premium for its earnings, possibly due to expectations of future growth. Notably, CACI has experienced a robust revenue growth of 14.28% over the last twelve months as of Q4 2024, indicating a strong upward trajectory in its financial performance.
InvestingPro Tips highlight that while CACI is trading at a high P/E ratio relative to near-term earnings growth, it also offers stability with low price volatility. Additionally, the stock is trading near its 52-week high, reflecting a large price uptick over the last six months. This performance may appeal to investors looking for both growth potential and reduced risk in their portfolios. For those seeking more comprehensive analysis, InvestingPro provides additional tips, with a total of 11 tips available, including insights on profitability and analyst predictions for the company's future.
Investors considering CACI as part of their investment strategy can find more detailed insights and tips by visiting InvestingPro's dedicated page for the company at https://www.investing.com/pro/CACI. This resource offers a wealth of information to help make informed decisions about investing in CACI International Inc.
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