Science Applications International (NYSE:SAIC) Hits New 12-Month High After Dividend Announcement

Science Applications International Co. (NYSE:SAIC) shares reached a new 52-week high during trading on Monday following a dividend announcement from the company. The stock traded as high as $146.10 and last traded at $145.87, with a volume of 127536 shares traded. The stock had previously closed at $144.50.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SAIC. TD Cowen boosted their target price on shares of Science Applications International from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Citigroup boosted their price objective on shares of Science Applications International from $160.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company raised their target price on shares of Science Applications International from $122.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Friday. Barclays boosted their price target on Science Applications International from $135.00 to $150.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. upgraded Science Applications International from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $150.00 to $170.00 in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Science Applications International has an average rating of “Hold” and a consensus target price of $150.43.

Science Applications International Price Performance

The company has a 50 day simple moving average of $132.55 and a 200 day simple moving average of $127.54. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 25.99 and a beta of 0.70. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21.

Science Applications International (NYSE:SAIC) last released its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.19. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. Science Applications International had a net margin of 3.97% and a return on equity of 22.88%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 earnings per share. As a group, research analysts predict that Science Applications International Co. will post 8.2 EPS for the current year.

Institutional Trading of Science Applications International

A number of hedge funds have recently made changes to their positions in SAIC. Virtu Financial LLC purchased a new position in Science Applications International in the 4th quarter valued at about $635,000. Wellington Management Group LLP grew its position in shares of Science Applications International by 5.0% during the fourth quarter. Wellington Management Group LLP now owns 4,062,059 shares of the information technology services provider’s stock worth $504,995,000 after buying an additional 194,160 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Science Applications International during the fourth quarter worth approximately $950,000. HighPoint Advisor Group LLC bought a new stake in shares of Science Applications International in the fourth quarter worth $884,000. Finally, Global Assets Advisory LLC acquired a new stake in Science Applications International in the first quarter valued at $11,044,000. 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.