Science Applications International (NYSE:SAIC) Hits New 1-Year High – Here’s Why

Science Applications International Co. (NYSE:SAIC) shares hit a new 52-week high on Tuesday . The company traded as high as $148.94 and last traded at $148.90, with a volume of 167516 shares traded. The stock had previously closed at $146.14.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SAIC shares. Truist Financial boosted their target price 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. TD Cowen boosted their target price on shares of Science Applications International from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. raised shares of Science Applications International from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $150.00 to $170.00 in a research report on Wednesday, October 2nd. Citigroup lifted their price objective 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. Finally, Barclays lifted their price objective on shares of Science Applications International from $135.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $150.43.

Science Applications International Stock Performance

The stock’s 50-day moving average price is $140.28 and its 200-day moving average price is $129.94. The company has a market cap of $7.38 billion, a P/E ratio of 26.81 and a beta of 0.70. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85.

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

Science Applications International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Friday, October 11th. Science Applications International’s dividend payout ratio (DPR) is presently 26.62%.

Institutional Inflows and Outflows

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