Science Applications International (NASDAQ:SAIC) Shares Climb 5.2% - Here's Why

Key Points

• SAIC shares rose 5.2% to about $128.47, despite trading volume running 68% below the average daily level.
• The company exceeded quarterly expectations, reporting adjusted EPS of $3.01 versus $2.31 expected and revenue of $1.88 billion versus $1.76 billion forecast; revenue increased 6.3% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and $125.22 target price, while Stifel raised its target to $154 and the company announced a quarterly dividend of $0.37 per share.

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

Wall Street Analysts Forecast Growth

SAIC has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Science Applications International from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 27th. Truist Financial boosted 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 note on Tuesday, September 1st. TD Cowen restated a "hold" rating on shares of Science Applications International in a report on Monday, August 31st. Stifel Nicolaus raised their target price on Science Applications International from $137.00 to $154.00 and gave the stock a "buy" rating in a research report on Tuesday, September 1st. Finally, Weiss Ratings lowered Science Applications International from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, September 24th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Science Applications International presently has a consensus rating of "Hold" and a consensus target price of $125.22.

Science Applications International Stock Up 5.2%

The firm has a market cap of $5.38 billion, a P/E ratio of 15.03 and a beta of 0.31. The firm's 50 day moving average is $127.15 and its two-hundred day moving average is $112.06. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.71.

Science Applications International (NASDAQ:SAIC - Get Free Report) last posted its quarterly earnings results on Monday, August 31st. The company reported $3.01 EPS for the quarter, beating analysts' consensus estimates of $2.31 by $0.70. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.76 billion. Science Applications International had a return on equity of 34.68% and a net margin of 5.13%.Science Applications International's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.63 earnings per share. As a group, research analysts anticipate that Science Applications International Corporation will post 10.77 EPS for the current fiscal year.

Science Applications International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 9th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, October 9th. Science Applications International's payout ratio is presently 17.31%.

Insider Transactions at Science Applications International

In related news, Director C. David Cush purchased 1,000 shares of Science Applications International stock in a transaction on Tuesday, September 22nd. The stock was acquired at an average cost of $132.50 per share, for a total transaction of $132,500.00. Following the completion of the acquisition, the director owned 1,000 shares of the company's stock, valued at $132,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Science Applications International

Several large investors have recently made changes to their positions in SAIC. Elevation Wealth Partners LLC boosted its holdings in Science Applications International by 75.6% in the third quarter. Elevation Wealth Partners LLC now owns 346 shares of the company's stock worth $44,000 after acquiring an additional 149 shares in the last quarter. Versant Capital Management Inc grew 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 purchasing an additional 520 shares during the period. GAMMA Investing LLC increased its stake in Science Applications International by 86.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,226 shares of the company's stock valued at $135,000 after purchasing an additional 570 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Science Applications International by 134.1% during the first 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. Finally, Allworth Financial LP raised its holdings in shares of Science Applications International by 10.3% in 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. 76.00% of the stock is currently owned by institutional investors and hedge funds.

Science Applications International Company Profile

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.

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