Science Applications International (NASDAQ:SAIC) Hits New 12-Month High – What’s Next?

Science Applications International Corporation (NASDAQ:SAIC) shares hit a new 52-week high on Thursday. The company traded as high as $143.23 and last traded at $142.7270, with a volume of 245,587 shares changing hands. The stock had previously closed at $136.74.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Science Applications International from $137.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, September 1st. UBS Group raised their price objective on shares of Science Applications International from $108.00 to $123.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 1st. Truist Financial raised their price target 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. The Goldman Sachs Group boosted their price objective on Science Applications International from $93.00 to $103.00 and gave the company a “sell” rating in a research report on Tuesday, September 8th. Finally, TD Cowen reissued a “hold” rating on shares of Science Applications International in a report on Monday, August 31st. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $125.22.

Science Applications International Price Performance

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 50 day simple moving average of $130.11 and a two-hundred day simple moving average of $115.15. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 17.04 and a beta of 0.31.

Science Applications International (NASDAQ:SAIC) last announced its quarterly earnings data on Monday, August 31st. The company reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.70. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.76 billion. Science Applications International had a net margin of 5.13% and a return on equity of 34.68%. Science Applications International’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.63 earnings per share. On average, equities research analysts predict that Science Applications International Corporation will post 10.77 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 9th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, October 9th. Science Applications International’s dividend payout ratio is currently 17.31%.

Insiders Place Their Bets

In other Science Applications International news, Director C. David Cush purchased 1,000 shares of the company’s stock in a transaction on Tuesday, September 22nd. The stock was acquired at an average price of $132.50 per share, for a total transaction of $132,500.00. Following the completion of the purchase, the director directly owned 1,000 shares in the company, valued at approximately $132,500. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Science Applications International

A number of large investors have recently modified their holdings of SAIC. Dimensional Fund Advisors LP raised its holdings in shares of Science Applications International by 13.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,535,288 shares of the company’s stock worth $145,730,000 after purchasing an additional 185,066 shares during the period. Bank of New York Mellon Corp increased its holdings in Science Applications International by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 431,455 shares of the company’s stock valued at $40,954,000 after purchasing an additional 6,179 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Science Applications International by 17.5% during the first quarter. Bank of America Corp DE now owns 380,538 shares of the company’s stock worth $36,121,000 after purchasing an additional 56,720 shares in the last quarter. MAC Alpha Capital Management LP grew its stake in shares of Science Applications International by 43.8% in the second quarter. MAC Alpha Capital Management LP now owns 174,892 shares of the company’s stock valued at $19,311,000 after buying an additional 53,277 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Science Applications International by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 100,737 shares of the company’s stock valued at $9,562,000 after buying an additional 1,743 shares during the period. 76.00% of the stock is owned by hedge funds and other institutional investors.

Science Applications International Company Profile

Science Applications International Corporation (SAIC) is a technology integrator and professional services company that supports the U.S. government and its missions. The company provides information technology modernization, systems engineering, mission support, enterprise transformation, and program management services to defense, intelligence, space, federal civilian, and national security customers.

SAIC’s capabilities include cloud computing, artificial intelligence and machine learning, cybersecurity, software development, data analytics, digital engineering, network modernization, and IT infrastructure management.