Science Applications International (NYSE:SAIC) Trading Down 4.9% – What’s Next?

Science Applications International Co. (NYSE:SAIC)’s stock price dropped 4.9% during mid-day trading on Thursday . The stock traded as low as $107.22 and last traded at $107.26. Approximately 475,980 shares were traded during trading, an increase of 12% from the average daily volume of 425,460 shares. The stock had previously closed at $112.77.

Analyst Upgrades and Downgrades

SAIC has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Science Applications International from $139.00 to $148.00 and gave the company an “overweight” rating in a research note on Tuesday. The Goldman Sachs Group dropped their price target on Science Applications International from $124.00 to $103.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. Truist Financial dropped their price target on Science Applications International from $135.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday. TD Cowen lowered Science Applications International from a “buy” rating to a “hold” rating and dropped their price target for the stock from $155.00 to $120.00 in a research note on Wednesday, January 8th. Finally, UBS Group lifted their price target on Science Applications International from $123.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $134.00.

Science Applications International Stock Performance

The stock has a market cap of $5.18 billion, a PE ratio of 17.86 and a beta of 0.66. The company has a fifty day moving average price of $107.01 and a 200 day moving average price of $122.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20.

Science Applications International (NYSE:SAIC) last released its quarterly earnings data on Monday, March 17th. The information technology services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.00 by $0.57. Science Applications International had a return on equity of 24.18% and a net margin of 4.11%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the business earned $1.43 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts expect that Science Applications International Co. will post 8.27 earnings per share for the current year.

Science Applications International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.40%. Science Applications International’s dividend payout ratio is presently 20.58%.

Insider Activity at Science Applications International

In related news, Director Katharina G. Mcfarland sold 3,239 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $117.70, for a total transaction of $381,230.30. Following the transaction, the director now owns 6,864 shares in the company, valued at $807,892.80. The trade was a 32.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SAIC. Norges Bank purchased a new position in Science Applications International during the 4th quarter valued at about $63,572,000. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Science Applications International by 27.0% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,186,547 shares of the information technology services provider’s stock worth $244,412,000 after acquiring an additional 464,989 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in shares of Science Applications International during the 4th quarter worth approximately $34,909,000. AQR Capital Management LLC grew its holdings in shares of Science Applications International by 68.4% during the 4th quarter. AQR Capital Management LLC now owns 443,246 shares of the information technology services provider’s stock worth $49,413,000 after acquiring an additional 179,963 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Science Applications International during the 4th quarter worth approximately $18,694,000. Hedge funds and other institutional investors own 76.00% of the company’s stock.

About Science Applications International

Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company's offerings include IT modernization; digital engineering; artificial intelligence; Weapon systems support design, build, modify, integrate, and sustain weapon systems; and end-to-end services, such as design, development, integration, deployment, management and operations, sustainment, and security of its customers' IT infrastructure, as well as training and simulation and ground vehicles support which integrates, modify, upgrades, and sustains ground vehicles for nation's armed forces.