CACI International Inc (CACI: Quote) said Tuesday that it has executed its share repurchase program and has begun to repurchase four million shares of its common stock.
The company expects to complete the program in about two months, depending upon market volume considerations. To date, the company has repurchased 1.3 million shares at an average price of $50.56 per share.
Dr. J.P. London, CACI's Chairman of the Board, said, "CACI's Board of Directors authorized our share repurchase program because we continue to have great confidence in our leadership team, our vision and strategy, and the long-term growth opportunities in our addressable markets. We believe the current trading range for CACI stock provides exceptional value for the investment community."
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by RTT Staff Writer
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