Science Applications International (NYSE:SAIC) Shares Down 4.9% – Here’s What Happened

Science Applications International Co. (NYSE:SAIC) fell 4.9% on Thursday . The stock traded as low as $107.22 and last traded at $107.26. 475,980 shares changed hands during trading, an increase of 12% from the average session volume of 425,460 shares. The stock had previously closed at $112.77.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SAIC shares. Wells Fargo & Company increased their target price on Science Applications International from $139.00 to $148.00 and gave the company an “overweight” rating in a report on Tuesday. UBS Group upped their price target on Science Applications International from $123.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday. The Goldman Sachs Group decreased their price objective on Science Applications International from $124.00 to $103.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Truist Financial dropped their target price on Science Applications International from $135.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, TD Cowen cut shares of Science Applications International from a “buy” rating to a “hold” rating and decreased their price target for the stock from $155.00 to $120.00 in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $134.00.

Science Applications International Price Performance

The stock’s fifty day moving average is $107.37 and its 200-day moving average is $122.79. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $5.21 billion, a P/E ratio of 17.92 and a beta of 0.66.

Science Applications International (NYSE:SAIC) last issued its quarterly earnings data on Monday, March 17th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.57. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. Science Applications International had a return on equity of 24.18% and a net margin of 4.11%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $1.43 EPS. On average, equities analysts anticipate that Science Applications International Co. will post 8.27 earnings per share for the current year.

Science Applications International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a $0.37 dividend. 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 1.39%. Science Applications International’s payout ratio is presently 20.58%.

Insider Buying and Selling

In other Science Applications International news, Director Katharina G. Mcfarland sold 3,239 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $117.70, for a total value of $381,230.30. Following the sale, the director now owns 6,864 shares of the company’s stock, valued at $807,892.80. This trade represents a 32.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On Science Applications International

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC raised its stake in Science Applications International by 18.7% during the 4th quarter. Empowered Funds LLC now owns 5,549 shares of the information technology services provider’s stock valued at $620,000 after purchasing an additional 874 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Science Applications International during the fourth quarter valued at about $312,000. Pure Financial Advisors LLC lifted its stake in shares of Science Applications International by 19.0% in the fourth quarter. Pure Financial Advisors LLC now owns 18,447 shares of the information technology services provider’s stock valued at $2,062,000 after buying an additional 2,946 shares during the period. XTX Topco Ltd grew its position in Science Applications International by 219.5% during the third quarter. XTX Topco Ltd now owns 10,641 shares of the information technology services provider’s stock worth $1,482,000 after buying an additional 7,310 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Science Applications International by 1.9% during the third quarter. Geode Capital Management LLC now owns 985,105 shares of the information technology services provider’s stock valued at $137,227,000 after acquiring an additional 18,102 shares during the period. 76.00% of the stock is owned by institutional investors.

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.