Science Applications International (NYSE:SAIC) Reaches New 52-Week High – Here’s Why

Science Applications International Co. (NYSE:SAIC) shares hit a new 52-week high during trading on Monday . The company traded as high as $148.65 and last traded at $147.98, with a volume of 4055 shares trading hands. The stock had previously closed at $147.70.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SAIC shares. JPMorgan Chase & Co. upgraded 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 note on Wednesday, October 2nd. Citigroup raised their price target on shares of Science Applications International from $160.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen upped their price target on shares of Science Applications International from $145.00 to $155.00 and gave the company a “buy” rating in a report on Friday, September 6th. Truist Financial increased their price objective on shares of Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Finally, StockNews.com raised Science Applications International from a “buy” rating to a “strong-buy” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Science Applications International presently has a consensus rating of “Moderate Buy” and an average price target of $150.43.

Science Applications International Stock Up 0.0 %

The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 17.30 and a beta of 0.70. The business’s 50 day moving average is $135.19 and its 200 day moving average is $128.15.

Science Applications International (NYSE:SAIC) last issued its earnings results on Thursday, September 5th. The information technology services provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.86 by $0.19. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. Science Applications International’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.05 earnings per share. Equities analysts expect that Science Applications International Co. will post 8.2 earnings per share for the current year.

Science Applications International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.00%. Science Applications International’s dividend payout ratio is currently 17.33%.

Institutional Investors Weigh In On Science Applications International

Large investors have recently bought and sold shares of the business. Twin Tree Management LP acquired a new stake in shares of Science Applications International in the first quarter worth about $649,000. Cumberland Partners Ltd bought a new position in shares of Science Applications International in the first quarter valued at approximately $652,000. Sei Investments Co. lifted its stake in shares of 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 worth $11,284,000 after buying an additional 30,325 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Science Applications International by 234.3% during the 1st quarter. Van ECK Associates Corp now owns 92,339 shares of the information technology services provider’s stock worth $12,040,000 after buying an additional 64,715 shares during the period. Finally, Apella Capital LLC acquired a new position in Science Applications International in the 2nd quarter valued at $820,000. 76.00% of the stock is currently owned by 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.