Science Applications International (NYSE:SAIC) Shares Gap Down Following Weak Earnings

Science Applications International Co. (NYSE:SAIC - Get Free Report)'s stock price gapped down prior to trading on Monday following a dissappointing earnings announcement. The stock had previously closed at $115.54, but opened at $105.21. Science Applications International shares last traded at $103.21, with a volume of 314,605 shares.

The information technology services provider reported $1.92 earnings per share for the quarter, missing analysts' consensus estimates of $2.17 by ($0.25). Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The company's revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.92 EPS.

Science Applications International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 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 1.45%. The ex-dividend date of this dividend is Friday, July 11th. Science Applications International's dividend payout ratio (DPR) is presently 20.58%.

Analysts Set New Price Targets

A number of brokerages have weighed in on SAIC. JPMorgan Chase & Co. decreased their target price on 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 report on Tuesday, February 25th. Truist Financial decreased their target price on Science Applications International from $115.00 to $100.00 and set a "hold" rating for the company in a research report on Tuesday. Wells Fargo & Company lifted their target price on Science Applications International from $132.00 to $137.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Jefferies Financial Group boosted their price target on Science Applications International from $120.00 to $130.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Science Applications International has a consensus rating of "Hold" and a consensus price target of $128.70.

Insider Buying and Selling at Science Applications International

In other Science Applications International news, Director Garth Graham bought 215 shares of Science Applications International stock in a transaction that occurred on Monday, April 14th. The shares were bought at an average cost of $116.75 per share, with a total value of $25,101.25. Following the transaction, the director now directly owns 7,159 shares of the company's stock, valued at approximately $835,813.25. This represents a 3.10% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Milford W. Mcguirt bought 500 shares of Science Applications International stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average cost of $110.58 per share, for a total transaction of $55,290.00. Following the completion of the transaction, the director now directly owns 6,841 shares in the company, valued at $756,477.78. This represents a 7.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 3,260 shares of company stock worth $365,037 over the last quarter. Insiders own 0.44% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SAIC. Norges Bank acquired a new position in Science Applications International during the 4th quarter valued at about $63,572,000. AQR Capital Management LLC lifted its holdings in shares of Science Applications International by 115.8% during the first quarter. AQR Capital Management LLC now owns 956,438 shares of the information technology services provider's stock worth $107,379,000 after purchasing an additional 513,192 shares during the period. Invesco Ltd. boosted its stake in shares of Science Applications International by 124.8% in the first quarter. Invesco Ltd. now owns 874,595 shares of the information technology services provider's stock worth $98,191,000 after buying an additional 485,496 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Science Applications International by 27.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,186,547 shares of the information technology services provider's stock worth $244,412,000 after buying an additional 464,989 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Science Applications International in the fourth quarter worth about $34,909,000. 76.00% of the stock is owned by institutional investors and hedge funds.

Science Applications International Stock Up 0.1%

The company has a market cap of $4.88 billion, a PE ratio of 17.27 and a beta of 0.55. The business has a 50-day simple moving average of $116.70 and a 200-day simple moving average of $113.09. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20.

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.