Science Applications International (NYSE:SAIC) Stock Price Down 7% – Here’s What Happened

Science Applications International Co. (NYSE:SAIC) shares dropped 7% on Thursday . The stock traded as low as $137.21 and last traded at $137.65. Approximately 82,539 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 293,606 shares. The stock had previously closed at $148.01.

Wall Street Analysts Forecast Growth

SAIC has been the subject of several research analyst reports. Truist Financial lifted 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. JPMorgan Chase & Co. raised Science Applications International from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $150.00 to $170.00 in a report on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on shares of Science Applications International from $122.00 to $157.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. StockNews.com lowered shares of Science Applications International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Barclays increased their target price 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. Based on data from MarketBeat.com, Science Applications International presently has a consensus rating of “Hold” and an average target price of $150.43.

Science Applications International Trading Down 13.9 %

The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 24.05 and a beta of 0.70. The business has a 50 day moving average of $142.46 and a two-hundred day moving average of $130.75.

Science Applications International (NYSE:SAIC) last posted its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 EPS for the quarter, beating the consensus estimate of $1.86 by $0.19. The firm 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 company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $2.05 EPS. Equities analysts predict 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 given a dividend of $0.37 per share. The ex-dividend date was Friday, October 11th. This represents a $1.48 annualized dividend and a yield of 1.16%. Science Applications International’s payout ratio is currently 26.62%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SAIC. Empowered Funds LLC purchased a new stake in shares of Science Applications International in the first quarter worth about $1,069,000. SG Americas Securities LLC grew its holdings in shares of Science Applications International by 7.0% during the first quarter. SG Americas Securities LLC now owns 9,327 shares of the information technology services provider’s stock worth $1,216,000 after purchasing an additional 614 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Science Applications International by 53.9% in the first quarter. Sei Investments Co. now owns 86,541 shares of the information technology services provider’s stock worth $11,284,000 after buying an additional 30,325 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Science Applications International by 22.8% in the first quarter. Russell Investments Group Ltd. now owns 10,146 shares of the information technology services provider’s stock worth $1,323,000 after buying an additional 1,884 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Science Applications International by 1.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 54,717 shares of the information technology services provider’s stock worth $7,135,000 after buying an additional 647 shares during the period. 76.00% of the stock is owned by institutional investors.

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.