Science Applications International (NYSE:SAIC) Reaches New 1-Year High Following Dividend Announcement

Science Applications International Co. (NYSE:SAIC) hit a new 52-week high on Monday after the company announced a dividend. The stock traded as high as $146.10 and last traded at $145.87, with a volume of 127536 shares changing hands. The stock had previously closed at $144.50.

The newly announced dividend which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, October 11th. Science Applications International’s payout ratio is currently 26.62%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SAIC shares. Truist Financial upped their price objective on shares of Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Wells Fargo & Company upped their price target on shares of Science Applications International from $122.00 to $157.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. StockNews.com raised shares of Science Applications International from a “buy” rating to a “strong-buy” rating in a report on Monday. Citigroup upped their price target on shares of Science Applications International from $160.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Barclays upped their price target on shares of Science Applications International from $135.00 to $150.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.43.

Science Applications International Stock Up 0.2 %

The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $7.25 billion, a P/E ratio of 26.32 and a beta of 0.70. The firm has a 50-day moving average price of $133.60 and a two-hundred day moving average price of $127.76.

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 firm 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 quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business earned $2.05 earnings per share. Equities research analysts anticipate that Science Applications International Co. will post 8.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. raised its stake in Science Applications International by 438.5% during the third quarter. UMB Bank n.a. now owns 210 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 171 shares in the last quarter. Larson Financial Group LLC acquired a new stake in shares of Science Applications International in the second quarter valued at $27,000. GAMMA Investing LLC increased its stake in shares of Science Applications International by 236.0% in the third quarter. GAMMA Investing LLC now owns 289 shares of the information technology services provider’s stock valued at $40,000 after buying an additional 203 shares in the last quarter. Fifth Third Bancorp increased its position in Science Applications International by 30.4% in the second quarter. Fifth Third Bancorp now owns 360 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 84 shares during the period. Finally, CWM LLC increased its position in Science Applications International by 56.8% in the second quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 147 shares during the period. 76.00% of the stock is currently owned by institutional investors and hedge funds.

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.