Science Applications International (NASDAQ:SAIC) Stock Price Up 5.2% – Still a Buy?

Shares of Science Applications International Corporation (NASDAQ:SAIC) traded up 5.2% during mid-day trading on Thursday. The company traded as high as $128.57 and last traded at $128.4670. Approximately 178,051 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 560,167 shares. The stock had previously closed at $122.08.

Analysts Set New Price Targets

Several brokerages have commented on SAIC. Truist Financial upped their target price on shares of Science Applications International from $110.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, September 1st. Weiss Ratings upgraded Science Applications International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday. Wall Street Zen raised Science Applications International from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 27th. TD Cowen reiterated a “hold” rating on shares of Science Applications International in a report on Monday, August 31st. Finally, UBS Group increased their target price on Science Applications International from $108.00 to $123.00 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Science Applications International has a consensus rating of “Hold” and a consensus price target of $125.22.

Science Applications International Price Performance

The company’s 50 day simple moving average is $127.78 and its 200 day simple moving average is $112.45. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market cap of $5.64 billion, a P/E ratio of 15.75 and a beta of 0.31.

Science Applications International (NASDAQ:SAIC) last announced its quarterly earnings results on Monday, August 31st. The company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.70. Science Applications International had a net margin of 5.13% and a return on equity of 34.68%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm posted $3.63 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts forecast that Science Applications International Corporation will post 10.77 earnings per share for the current year.

Science Applications International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 9th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, October 9th. This represents a $1.48 annualized dividend and a yield of 1.1%. Science Applications International’s payout ratio is currently 17.31%.

Insider Transactions at Science Applications International

In other Science Applications International news, Director C. David Cush bought 1,000 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The stock was purchased at an average cost of $132.50 per share, with a total value of $132,500.00. Following the completion of the purchase, the director owned 1,000 shares in the company, valued at approximately $132,500. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Science Applications International

Several institutional investors have recently modified their holdings of SAIC. Elevation Wealth Partners LLC grew its holdings in shares of Science Applications International by 75.6% during the third quarter. Elevation Wealth Partners LLC now owns 346 shares of the company’s stock worth $44,000 after buying an additional 149 shares in the last quarter. Versant Capital Management Inc raised its position in Science Applications International by 155.7% in the 2nd quarter. Versant Capital Management Inc now owns 854 shares of the company’s stock valued at $94,000 after buying an additional 520 shares during the last quarter. GAMMA Investing LLC lifted its stake in Science Applications International by 86.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,226 shares of the company’s stock valued at $135,000 after acquiring an additional 570 shares in the last quarter. Allworth Financial LP boosted its position in Science Applications International by 10.3% during the 2nd quarter. Allworth Financial LP now owns 1,720 shares of the company’s stock worth $190,000 after acquiring an additional 160 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Science Applications International by 134.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,887 shares of the company’s stock worth $179,000 after acquiring an additional 1,081 shares in the last quarter. Institutional investors own 76.00% of the company’s stock.

About Science Applications International

Science Applications International Corp. (SAIC) provides technology integration, mission services and engineering solutions primarily to the U.S. government. The company supports defense, intelligence, space, civilian and health agencies with services focused on digital modernization, cloud computing, cybersecurity, artificial intelligence, data analytics and enterprise information technology.

SAIC also provides systems engineering, logistics, program management, software development, infrastructure support and mission operations.