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Leidos Holdings Inc LDOS.N:
TINA JONAS APPOINTED TO LEIDOS BOARD OF DIRECTORS
Source text for Eikon: (Full Story)
Further company coverage: LDOS.N
NORTHAMPTON, MA / ACCESSWIRE / September 18, 2024 / Leidos:
Each year, Leidos celebrates the power of partnership at the Leidos Supplier Innovation & Technology Symposium. The annual event includes an awards section to honor suppliers for their excellence in technology, collaboration, partnership, and innovation.
"The supplier awards are a way to acknowledge the critical role our partners play in mission success," said Stephanie Foster, chief supply chain officer at Leidos. "We are committed to bringing the best solutions possible to our customers, and we value the collaboration and support of our strategic supplier base."
Leidos employees vote on a standout partner for each category and submit nominations for the Account Manager of the Year. A second award for Account Manager of the Year was added this year to broaden recognition of the outstanding individuals who work side-by-side with the Leidos team.
The 2024 winners are:
Alliance Partner of the Year: Amazon Web Services
The award recognizes a supplier that contributes to the success of Leidos customers through long-term relationships that support and advance the company's strategic objectives.
Innovation Partner of the Year: Sourcegraph
The award recognizes a supplier who has consistently provided new ideas and solutions to Leidos, resulting in increased efficiencies for customer deliverables.
Channel Partner of the Year: Carahsoft
The award recognizes a supplier who has helped Leidos go to market efficiently through innovative solutions. Their support resulted in effective bottom-line savings, increased revenue or performance outcomes and consistently demonstrated a collaborative business relationship with Leidos.
Small Business Channel Partner of the Year: Government Acquisitions, Inc. (GAI)
The award recognizes a small business supplier who has helped Leidos go to market efficiently through innovative solutions, resulting in effective bottom-line savings and increased revenue or performance outcomes.
Emerging Technology Partner of the Year: Rancher Government
The award recognizes a supplier with outstanding product design and engineering in cutting edge technology products that help our customers achieve mission success.
Channel Partner Account Manager of the Year: Aaron Cooperman, Carahsoft
The award recognizes an account executive/manager who consistently provides excellent service to Leidos and fosters a collaborative partnership.
OEM Account Manager of the Year: Edwin Van Deursen, Amazon Web Services
The award recognizes an account executive/manager who consistently provides excellent service to Leidos and fosters a collaborative partnership.
Learn more about our partners and how to join our network
Leidos presented seven awards to honor suppliers for their excellence in technology, collaboration, partnership, and innovation at the2024 Leidos Supplier Innovation & Technology Symposium on Aug. 6, 2024. (Leidos/Jay Townsend)
View additional multimedia and more ESG storytelling from Leidos on 3blmedia.com.
Contact Info:
Spokesperson: Leidos Website: https://www.3blmedia.com/profiles/leidos Email: info@3blmedia.com
SOURCE: Leidos
View the original press release on accesswire.comCACI International CACI shares have gained 51.5% year to date, outperforming the Zacks Computer and Technology Sector and S&P 500 index’s growth of 19.4% and 18.1%, respectively.
CACI International stock has also outperformed the Zacks Electronics - Semiconductors industry’s return of 15.2% in the same time frame. CACI’s outperformance reflects investors’ confidence in the persistent demand for CACI’s offerings in the federal and defense space.
In a move to further enhance its portfolio, CACI recently agreed to acquire Azure Summit Technology in an all-cash transaction for $1.275 billion. The acquisition will add radio frequency technology and electromagnetic spectrum expertise to CACI’s portfolio.
The Acquisition of Azure Summit to Boost CACI’s Prospects
Azure Summit Technologies’ core expertise lies in intelligence, surveillance and reconnaissance (ISR), electronic warfare (EW) and signals intelligence (SIGINT). These offerings will aid CACI in increasing the depth of its offerings for the Department of Defence clients.
So far this year, CACI has received a dedicated SIGINT order worth $416 million, an ISR order worth $198 million and a $382 million Electronic Warfare Systems Task Order all from the U.S. Army. The acquisition of Azure Summit is anticipated to result in a greater inflow of orders due to the enhanced capabilities of CACI.
Additionally, CACI believes that the acquisition of Azure Summit will be immediately accretive to its revenue growth, EBITDA margin, adjusted earnings per share and free cash flow per share. In an investor presentation, CACI revealed that it expects Azure Summit to contribute nearly $440 million in revenues and approximately $110 million in adjusted EBITDA in the first year following the completion of the acquisition.
CACI International YTD Performance
Near-Term Challenges for CACI
CACI International operates in a highly competitive defense, space, intelligence and mission-critical services market that comprises contenders, including Science Applications International SAIC, Leidos Holdings LDOS and KBR Inc. KBR.
CACI’s competitors, Science Applications International, KBR and Leidos, are established players in the industry with their respective strengths. They compete with CACI through a competitive bidding process. These players also compete for a limited number of government contracts from the Department of Defense, the Department of Homeland Security and other U.S. government agencies, creating a highly competitive environment in this niche industry. This high competition causes pricing pressure leading to low-margin government deals, affecting CACI’s profitability.
CACI International is also facing challenges from recessionary concerns amid the ongoing macroeconomic and geopolitical tensions that might lead to softened spending by government agencies.
CACI’s rising debt level is another major concern. Its long-term debt has increased in the past eight years. The figure rose to $1.48 billion at the end of fiscal 2024 from $1.03 billion at the end of fiscal 2015. As a result, its annualized interest expense has increased during the same time frame. Additionally, the long-term debt level of $1.48 billion as of June 30, 2024, is much more than cash and cash equivalents of $134 million.
Conclusion
CACI’s latest agreement to acquire Azure Summit is likely to enhance its offerings in ISR, EW and SIGINT space, as well as boost its financial prospects. CACI shares have jumped 51% year to date and reached $490.37 as of Sept. 16. Shares of CACI International trade near its 52-week high of $498, which limits the stock’s upside potential.
Intensified competition and its high debt levels, along with low cash levels, also pose major concerns. So, it is prudent for investors to wait for a better entry time. CACI carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Investment Research
Designed to provide broad exposure to the Mid Cap Blend segment of the US equity market, the BNY Mellon US Mid Cap Core Equity ETF (BKMC) is a passively managed exchange traded fund launched on 04/09/2020.
The fund is sponsored by Bny Mellon. It has amassed assets over $495.10 million, making it one of the average sized ETFs attempting to match the Mid Cap Blend segment of the US equity market.
Why Mid Cap Blend
Compared to large and small cap companies, mid cap businesses tend to have higher growth prospects and are less volatile, respectively, with market capitalization between $2 billion and $10 billion. Thus, companies that fall under this category provide a stable and growth-heavy investment.
Blend ETFs are aptly named, since they tend to hold a mix of growth and value stocks, as well as show characteristics of both kinds of equities.
Costs
Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.
Annual operating expenses for this ETF are 0.04%, making it one of the least expensive products in the space.
It has a 12-month trailing dividend yield of 1.39%.
Sector Exposure and Top Holdings
ETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Industrials sector--about 26.60% of the portfolio. Consumer Discretionary and Healthcare round out the top three.
Looking at individual holdings, Godaddy Inc - Class A (GDDY) accounts for about 0.64% of total assets, followed by Leidos Holdings Inc (LDOS) and Texas Pacific Land Corp (TPL).
The top 10 holdings account for about 5.48% of total assets under management.
Performance and Risk
BKMC seeks to match the performance of the MORNINGSTAR U.S. MID CAP INDEX before fees and expenses. The Morningstar US Mid Cap Index is a float-adjusted market capitalization weighted index designed to measure the performance of U.S. medium-capitalization stocks.
The ETF has added about 9.48% so far this year and it's up approximately 21.08% in the last one year (as of 09/16/2024). In the past 52-week period, it has traded between $75.04 and $99.80.
The ETF has a beta of 1.02 and standard deviation of 19.22% for the trailing three-year period. With about 407 holdings, it effectively diversifies company-specific risk.
Alternatives
BNY Mellon US Mid Cap Core Equity ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, BKMC is a good option for those seeking exposure to the Style Box - Mid Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.
The Vanguard Mid-Cap ETF (VO) and the iShares Core S&P Mid-Cap ETF (IJH) track a similar index. While Vanguard Mid-Cap ETF has $67.95 billion in assets, iShares Core S&P Mid-Cap ETF has $88.17 billion. VO has an expense ratio of 0.04% and IJH charges 0.05%.
Bottom-Line
Passively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Zacks Investment Research
** Truist Securities lifts PT on defense contractor Leidos Holdings LDOS.N to $175 from $165
** Brokerage notes co's opportunity to drive margin expansion via new management's cost optimization efforts
** Sees valuation upside owing to co's discounted 2024 EBITDA compared to peers and Wall St's conservative 2024, 2025 growth estimates
** Six brokerages rate the stock "strong buy", eight "buy" and three "hold"; their median PT is $167.50 - LSEG data
** Up to last close, stock had risen 42.5% YTD
(Reporting by Aatreyee Dasgupta)
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