CACI International Inc (NYSE:CACI), a prominent player in the computer integrated systems design industry, held its Annual Meeting of Shareholders on October 17, 2024, where key decisions regarding the company's governance and executive compensation were made. The meeting's outcomes, which are based on a recent SEC filing, saw the re-election of eleven board members and approval of executive compensation.
The shareholders elected the following individuals to the Board of Directors: Michael A. Daniels, Lisa S. Disbrow, Susan M. Gordon, William L. Jews, Ryan D. McCarthy, John S. Mengucci, Scott C. Morrison, Philip O. Nolan, Debora A. Plunkett, Stanton D. Sloane, and Charles L. Szews. The voting results showed strong support for most nominees, with a notable majority in favor.
In addition to the board elections, shareholders voted in favor of the compensation paid to the company's named executive officers. This advisory vote, known as "say on pay," endorsed the executive compensation plan detailed in the 2024 Proxy Statement, which includes the Compensation Discussion and Analysis, compensation tables, and narrative discussion.
In other recent news, CACI International has seen significant developments in its operations and financial performance. The company reported a 20% increase in Q4 revenue and a 14% rise for the full fiscal year. For fiscal year 2025, revenue is projected to grow between 6% and 8.5%, estimated to be between $7.9 billion and $8.1 billion, with adjusted net income projected between $505 million and $525 million.
CACI has also expanded its board with the addition of Charles L. Szews and Scott C. Morrison, both serving as independent directors. The company recently secured a $805 million task order for engineering support to the U.S. Navy's NavalX Office, a $314 million task order for the Naval Undersea Warfare Center, and a $273 million task order to provide intelligence support to the United States Central Command.
In terms of acquisitions, CACI completed the purchase of Applied Insight, a specialist in cloud migration and transformation services, and announced plans to acquire Azure Summit Technology in a $1.275 billion transaction. These acquisitions aim to enhance CACI's technological capabilities and market presence.
Analysts from BofA Securities, TD Cowen, and Baird have expressed confidence in CACI's strategic decisions and financial stability. BofA Securities raised its price target for CACI, TD Cowen reiterated a Buy rating, and Baird maintained a Buy rating.
InvestingPro Insights
CACI International's recent shareholder meeting outcomes reflect confidence in the company's leadership, which aligns with its strong financial performance. According to InvestingPro data, CACI has shown impressive growth with a 61.62% year-to-date price total return and a 61.95% return over the past year. The company's revenue growth of 14.28% in the last twelve months and a quarterly growth of 19.68% as of Q4 2024 underscore its robust operational performance.
InvestingPro Tips highlight that CACI operates with a moderate level of debt and has been profitable over the last twelve months, which may have contributed to shareholders' approval of executive compensation. The company's stock is trading near its 52-week high, with a price at 97.96% of its 52-week peak, indicating strong market confidence.
For investors seeking more comprehensive analysis, InvestingPro offers 11 additional tips for CACI, providing deeper insights into the company's financial health and market position.
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