Science Applications International Co. to Issue Quarterly Dividend of $0.37 (NYSE:SAIC)

Science Applications International Co. (NYSE:SAIC) announced a quarterly dividend on Tuesday, July 9th, Wall Street Journal reports. Stockholders of record on Friday, July 12th will be given a dividend of 0.37 per share by the information technology services provider on Friday, July 26th. This represents a $1.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, July 12th.

Science Applications International has a payout ratio of 16.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Science Applications International to earn $9.01 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 16.4%.

Science Applications International Stock Performance

Shares of SAIC stock opened at $113.40 on Wednesday. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 13.28 and a beta of 0.69. Science Applications International has a one year low of $104.26 and a one year high of $145.17. The company’s 50-day simple moving average is $124.78 and its 200-day simple moving average is $128.56. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.95 and a current ratio of 0.95.

Science Applications International (NYSE:SAIC) last released its earnings results on Monday, June 3rd. The information technology services provider reported $1.92 EPS for the quarter, hitting analysts’ consensus estimates of $1.92. Science Applications International had a return on equity of 22.56% and a net margin of 6.28%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the business posted $2.14 EPS. Science Applications International’s quarterly revenue was down 8.8% compared to the same quarter last year. Equities analysts anticipate that Science Applications International will post 8.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Science Applications International news, EVP Vincent P. Difronzo acquired 795 shares of Science Applications International stock in a transaction dated Friday, April 12th. The stock was acquired at an average cost of $126.04 per share, for a total transaction of $100,201.80. Following the completion of the transaction, the executive vice president now owns 8,772 shares in the company, valued at approximately $1,105,622.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Prabu Natarajan bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average price of $114.85 per share, for a total transaction of $229,700.00. Following the transaction, the chief financial officer now directly owns 60,630 shares of the company’s stock, valued at approximately $6,963,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vincent P. Difronzo bought 795 shares of the stock in a transaction on Friday, April 12th. The shares were bought at an average cost of $126.04 per share, for a total transaction of $100,201.80. Following the purchase, the executive vice president now owns 8,772 shares in the company, valued at approximately $1,105,622.88. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 6,110 shares of company stock worth $744,577. Insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on SAIC shares. Wells Fargo & Company boosted their target price on shares of Science Applications International from $141.00 to $143.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 19th. StockNews.com lowered shares of Science Applications International from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. decreased their target price on Science Applications International from $142.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, March 19th. Finally, Truist Financial lowered their target price on Science Applications International from $130.00 to $125.00 and set a “hold” rating for the company in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $126.60.

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.