Science Applications International (NYSE:SAIC) Sets New 12-Month High Following Dividend Announcement

Science Applications International Co. (NYSE:SAIC)’s share price reached a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $146.10 and last traded at $145.87, with a volume of 127536 shares traded. The stock had previously closed at $144.50.

The newly announced dividend which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 11th. Science Applications International’s payout ratio is currently 26.62%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Truist Financial raised their price objective on Science Applications International from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Barclays raised their price objective on Science Applications International from $135.00 to $150.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. raised Science Applications International from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $150.00 to $170.00 in a research report on Wednesday, October 2nd. StockNews.com raised Science Applications International from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Wells Fargo & Company raised their price target on Science Applications International from $122.00 to $157.00 and gave the stock an “equal weight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.43.

Science Applications International Stock Performance

The stock has a market capitalization of $7.23 billion, a PE ratio of 26.27 and a beta of 0.70. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. The firm has a 50 day moving average price of $133.07 and a 200-day moving average price of $127.65.

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, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the business posted $2.05 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Research analysts expect that Science Applications International Co. will post 8.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SAIC. Wellington Management Group LLP raised its position in Science Applications International by 5.0% during the fourth quarter. Wellington Management Group LLP now owns 4,062,059 shares of the information technology services provider’s stock valued at $504,995,000 after acquiring an additional 194,160 shares in the last quarter. Van ECK Associates Corp raised its position in Science Applications International by 122.7% during the second quarter. Van ECK Associates Corp now owns 205,599 shares of the information technology services provider’s stock valued at $24,168,000 after acquiring an additional 113,260 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Science Applications International during the first quarter valued at approximately $11,044,000. Dimensional Fund Advisors LP raised its position in Science Applications International by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,108,748 shares of the information technology services provider’s stock valued at $130,333,000 after acquiring an additional 56,414 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Science Applications International by 53.9% in the first quarter. Sei Investments Co. now owns 86,541 shares of the information technology services provider’s stock valued at $11,284,000 after purchasing an additional 30,325 shares during the period. 76.00% of the stock is currently owned by hedge funds and other institutional investors.

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.