Science Applications International (NYSE:SAIC) Trading Down 7.2% - Here's What Happened

Science Applications International Co. (NYSE:SAIC - Get Free Report)'s share price traded down 7.2% during trading on Thursday . The stock traded as low as $117.00 and last traded at $111.10. 59,160 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 453,770 shares. The stock had previously closed at $119.76.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of 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. The Goldman Sachs Group decreased their price objective on shares of Science Applications International from $124.00 to $103.00 and set a "sell" rating for the company in a research note on Thursday, December 12th. Wells Fargo & Company cut their target price on Science Applications International from $154.00 to $149.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. TD Cowen cut Science Applications International from a "buy" rating to a "hold" rating and decreased their target price for the company from $155.00 to $120.00 in a research report on Wednesday, January 8th. Finally, Citigroup lifted their price target on Science Applications International from $160.00 to $176.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $139.38.

Science Applications International Stock Performance

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 stock has a fifty day moving average price of $116.66 and a 200-day moving average price of $127.68. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 18.37 and a beta of 0.66.

Science Applications International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be given a $0.37 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.48 dividend on an annualized basis and a yield of 1.36%. Science Applications International's payout ratio is currently 24.96%.

Insider Activity

In related news, Director Katharina G. Mcfarland sold 3,239 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $117.70, for a total value of $381,230.30. Following the completion of the transaction, the director now directly owns 6,864 shares of the company's stock, valued at $807,892.80. This trade represents a 32.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Barbara Supplee bought 425 shares of the firm's stock in a transaction on Wednesday, December 11th. The shares were purchased at an average price of $116.36 per share, for a total transaction of $49,453.00. Following the completion of the transaction, the executive vice president now owns 3,579 shares of the company's stock, valued at $416,452.44. This represents a 13.47 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.67% of the company's stock.

Hedge Funds Weigh In On Science Applications International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in Science Applications International by 36,732.4% during the 3rd quarter. International Assets Investment Management LLC now owns 245,672 shares of the information technology services provider's stock worth $34,215,000 after purchasing an additional 245,005 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Science Applications International by 21.9% during the 3rd quarter. Van ECK Associates Corp now owns 250,589 shares of the information technology services provider's stock worth $36,070,000 after purchasing an additional 44,990 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Science Applications International by 9.7% during the second quarter. AQR Capital Management LLC now owns 313,802 shares of the information technology services provider's stock worth $36,887,000 after buying an additional 27,664 shares in the last quarter. Millennium Management LLC raised its position in shares of Science Applications International by 55.1% in the second quarter. Millennium Management LLC now owns 64,703 shares of the information technology services provider's stock valued at $7,606,000 after buying an additional 22,995 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Science Applications International during the second quarter valued at approximately $2,963,000. Institutional investors and hedge funds own 76.00% of the company's stock.

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.