Science Applications International (NYSE:SAIC) Shares Down 4.5% - Here's What Happened

Science Applications International Co. (NYSE:SAIC - Get Free Report) shares were down 4.5% during mid-day trading on Friday . The stock traded as low as $115.69 and last traded at $116.93. Approximately 103,643 shares changed hands during trading, a decline of 80% from the average daily volume of 507,349 shares. The stock had previously closed at $122.45.

Analyst Ratings Changes

Several brokerages have recently issued reports on SAIC. Wells Fargo & Company reduced their target price on shares of Science Applications International from $148.00 to $132.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Truist Financial reduced their price objective on shares of Science Applications International from $135.00 to $115.00 and set a "hold" rating on the stock in a research note on Tuesday, March 18th. JPMorgan Chase & Co. dropped their target price on shares of Science Applications International from $148.00 to $140.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald raised Science Applications International to a "hold" rating in a research note on Tuesday, February 25th. Finally, UBS Group lifted their price objective on Science Applications International from $123.00 to $126.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $131.20.

Science Applications International Stock Down 4.4%

The company has a market capitalization of $5.59 billion, a P/E ratio of 19.73 and a beta of 0.55. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20. The firm has a fifty day simple moving average of $116.38 and a 200-day simple moving average of $115.14.

Science Applications International (NYSE:SAIC - Get Free Report) last announced its earnings results on Monday, March 17th. The information technology services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.00 by $0.57. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $1.43 EPS. On average, equities research analysts expect that Science Applications International Co. will post 8.27 EPS for the current fiscal year.

Science Applications International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, April 11th. Science Applications International's dividend payout ratio (DPR) is currently 20.58%.

Insider Activity

In related news, Director Milford W. Mcguirt purchased 500 shares of Science Applications International stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average cost of $110.58 per share, with a total value of $55,290.00. Following the completion of the transaction, the director now owns 6,841 shares of the company's stock, valued at approximately $756,477.78. This trade represents a 7.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Toni Townes-Whitley acquired 2,000 shares of the company's stock in a transaction dated Friday, March 28th. The shares were bought at an average price of $111.67 per share, for a total transaction of $223,340.00. Following the purchase, the chief executive officer now owns 45,183 shares in the company, valued at approximately $5,045,585.61. This represents a 4.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 3,260 shares of company stock worth $365,037 over the last ninety days. Insiders own 0.44% of the company's stock.

Hedge Funds Weigh In On Science Applications International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cornerstone Planning Group LLC acquired a new stake in Science Applications International in the fourth quarter valued at $28,000. Parallel Advisors LLC lifted its stake in Science Applications International by 112.1% in the 1st quarter. Parallel Advisors LLC now owns 280 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 148 shares during the last quarter. US Bancorp DE grew its holdings in Science Applications International by 38.5% during the first quarter. US Bancorp DE now owns 324 shares of the information technology services provider's stock worth $36,000 after purchasing an additional 90 shares during the period. Larson Financial Group LLC increased its position in Science Applications International by 43.2% during the first quarter. Larson Financial Group LLC now owns 325 shares of the information technology services provider's stock worth $36,000 after buying an additional 98 shares during the last quarter. Finally, True Wealth Design LLC bought a new stake in Science Applications International in the fourth quarter valued at approximately $48,000. 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.

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