Jacobs Wins $778M Information Technology Deal From USSOCOM

Jacobs Engineering Group (NYSE:JEC) recently won a $778-million global information technology (IT) maintenance and operations contract from the U.S. Special Operations Command (USSOCOM).

The project will likely be accomplished by 2023. At the time of completion, Jacobs will be providing various types of IT assistance for the Special Operations Forces Information Environment (SIE).

System and network infrastructure, network operations, enterprise architecture, license and asset management, and common device support solutions will be provided through these services. SIE is a network that enables safe distribution and collection of information, in turn, helping accumulate actionable evidence for the U.S. Department of Defense.

Receipt of the aforementioned contract highlights that Jacobs is currently regarded as an expert IT solutions provider in the market. The company offers premium technology solutions for achieving intelligence and defense missions seamlessly. On Jan 31, 2017, the company rolled out Jacobs Connected Enterprise (‘JCE’) — a suite of joined solutions and capabilities that enables digital transformation. Through JCE, Jacobs integrates its capabilities in the Industrial Internet of Things (IIoT), cybersecurity, data analytics and cloud computing for offering value-added solutions to the company’s consumers.

Jacobs Stock Looks Promising

Over the past year, Jacobs’ shares rallied 7%, as against the 8.2% loss incurred by the industry.

The company believes improvement in the U.S. economy will boost demand for its state-of-the-art construction and engineering services.

Moreover, this Zacks Rank #2 (Buy) strengthens its organic growth path on the back of potential contract wins. Over the past few months, Jacobs has won prestigious contracts from organizations like Chevron Corporation (NYSE:CVX) , Kraton Corporation (NYSE:KRA) and Exxon Mobil Corporation (NYSE:XOM) .

Also, the company believes acquisition of CH2M HILL Companies Ltd. (December 2017), lower corporate-tax rates and strategic restructuring moves will help improve its profitability in the near future.

You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here..

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