Science Applications International (NYSE:SAIC) Trading Down 4.9% - Here's What Happened

Shares of Science Applications International Co. (NYSE:SAIC - Get Free Report) traded down 4.9% during trading on Thursday . The company 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.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SAIC. StockNews.com raised shares of Science Applications International from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, December 18th. TD Cowen lowered Science Applications International from a "buy" rating to a "hold" rating and lowered their price target for the stock from $155.00 to $120.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price target on Science Applications International from $170.00 to $148.00 and set an "overweight" rating for the company in a research report on Friday, December 6th. Wells Fargo & Company raised their price objective on Science Applications International from $139.00 to $148.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Finally, Truist Financial dropped their target price on shares of Science Applications International from $135.00 to $115.00 and set a "hold" rating for the company in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $134.00.

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Science Applications International Price Performance

The stock has a market cap of $5.29 billion, a PE ratio of 18.23 and a beta of 0.66. The stock's fifty day moving average is $107.01 and its 200-day moving average is $122.41. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.87 and a quick ratio of 0.87.

Science Applications International (NYSE:SAIC - Get Free Report) last posted its quarterly earnings results on Monday, March 17th. The information technology services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.57. The business had revenue of $1.84 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 EPS. As a group, equities analysts anticipate that Science Applications International Co. will post 8.27 EPS for the current year.

Science Applications International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given 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 1.37%. Science Applications International's dividend payout ratio is currently 20.58%.

Insider Activity

In other news, Director Katharina G. Mcfarland sold 3,239 shares of the business's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $117.70, for a total value of $381,230.30. Following the sale, the director now directly owns 6,864 shares of the company's stock, valued at approximately $807,892.80. The trade was a 32.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.67% of the company's stock.

Hedge Funds Weigh In On Science Applications International

Hedge funds have recently made changes to their positions in the stock. Cornerstone Planning Group LLC acquired a new position in Science Applications International during the fourth quarter worth $28,000. True Wealth Design LLC purchased a new stake in shares of Science Applications International in the 4th quarter valued at $48,000. Quarry LP acquired a new position in Science Applications International during the 3rd quarter worth about $71,000. Kapitalo Investimentos Ltda purchased a new position in Science Applications International during the 4th quarter valued at about $58,000. Finally, Jones Financial Companies Lllp grew its position in Science Applications International by 32.3% in the 4th quarter. Jones Financial Companies Lllp now owns 639 shares of the information technology services provider's stock valued at $71,000 after acquiring an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 76.00% of the company's stock.

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.