Blue Harbour Group Further Increase Their Stake in CACI International Inc (CACI)

Clifton S. Robbins, the manager of Blue Harbour Group, continues buying CACI International Inc (NYSE:CACI) shares. Blue Harbour has disclosed in a recent Form 4 filing the acquisition of 35 shares at a price of $71.95 and 88,030 shares for $71.64 each. As a result, the fund’s holding has been increased to 2,467,414 shares, currently worth approximately $180 million. After not making any changes to their holding of CACI during the third quarter, Blue Harbour Group has resumed its buying in December – 105,209 shares so far.

The famous Joel Greenblatt is also optimistic about this stock. His fund, Gotham Asset Management, has increased its stake by 7% during the third quarter of 2013 and currently holds 258,356 shares reportedly worth $17.8 million. Wallace Weitz has, on the contrary, been reducing exposure to CACI International Inc (NYSE:CACI). Wallace R. Weitz & Co. reduced its holding by 5% and currently owns 314,400 valued at $21.7 million.

Since the start of the year, CACI International Inc (NYSE:CACI) has been trending up and has surged approximately 34%. The current price of $72.89 gives the company a market cap of $1.69 billion. CACI has a beta of 0.84 and does not pay a dividend. The stock has a Price to Earnings (P/E) ratio of 11.80, below the industry average of 15.00.

According to CACI International’s quarterly financial report, the company registered revenues of $864 million and earnings of $1.33 per diluted share for the three months ended September 30, 2013. Analysts are optimistic about the company’s prospects for the current quarter and expect revenues of $890 million and earnings per share of $1.41.

CACI International Inc (NYSE:CACI) has recently acquired Six3 Systems, Inc., a company that offers support for security and intelligence operations. According to company officials, this buy is part of the company’s development strategy and will allow CACI to extend its operations and increase shareholder returns.

Disclosure: none

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