Science Applications International (NYSE:SAIC) Reaches New 1-Year High – Here’s What Happened

Shares of Science Applications International Co. (NYSE:SAIC) hit a new 52-week high during trading on Tuesday . The company traded as high as $148.94 and last traded at $148.90, with a volume of 167516 shares trading hands. The stock had previously closed at $146.14.

Analyst Ratings Changes

A number of brokerages recently issued reports on SAIC. Barclays increased their price objective on Science Applications International from $135.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. StockNews.com lowered shares of Science Applications International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company upped their target price on shares of Science Applications International from $122.00 to $157.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. TD Cowen raised their price target on shares of Science Applications International from $145.00 to $155.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Truist Financial upped their price target on shares of Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Science Applications International currently has an average rating of “Hold” and a consensus target price of $150.43.

Science Applications International Stock Performance

The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50 day simple moving average of $139.46 and a 200-day simple moving average of $129.63. The firm has a market cap of $7.37 billion, a PE ratio of 26.61 and a beta of 0.70.

Science Applications International (NYSE:SAIC) last announced its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.19. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the firm earned $2.05 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Science Applications International Co. will post 8.2 EPS for the current year.

Science Applications International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.48 annualized dividend and a dividend yield of 0.99%. Science Applications International’s payout ratio is presently 26.62%.

Hedge Funds Weigh In On Science Applications International

A number of hedge funds and other institutional investors have recently made changes to their positions in SAIC. Larson Financial Group LLC purchased a new stake in Science Applications International in the second quarter worth about $27,000. UMB Bank n.a. lifted its stake in shares of Science Applications International by 438.5% in the 3rd quarter. UMB Bank n.a. now owns 210 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 171 shares during the period. GAMMA Investing LLC boosted its position in shares of Science Applications International by 236.0% during the third quarter. GAMMA Investing LLC now owns 289 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 203 shares in the last quarter. Fifth Third Bancorp grew its stake in Science Applications International by 30.4% in the second quarter. Fifth Third Bancorp now owns 360 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 84 shares during the period. Finally, CWM LLC raised its holdings in Science Applications International by 56.8% in the second quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 147 shares in the last quarter. Institutional investors own 76.00% of the company’s stock.

Science Applications International Company Profile

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.