Science Applications International (NYSE:SAIC) Shares Gap Up – Here’s What Happened

Science Applications International Co. (NYSE:SAIC)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $123.91, but opened at $132.50. Science Applications International shares last traded at $125.24, with a volume of 225,311 shares.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group assumed coverage on shares of Science Applications International in a research note on Monday. They set a “neutral” rating and a $134.00 price target on the stock. Wells Fargo & Company raised shares of Science Applications International from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $157.00 to $147.00 in a research report on Tuesday, November 26th. Truist Financial raised their target price on shares of Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Citigroup raised their target price 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, StockNews.com cut shares of Science Applications International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Science Applications International presently has a consensus rating of “Hold” and a consensus price target of $147.13.

Science Applications International Trading Down 1.0 %

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 firm’s 50 day simple moving average is $138.80 and its 200-day simple moving average is $129.68. The company has a market capitalization of $6.07 billion, a PE ratio of 22.29 and a beta of 0.64.

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. Science Applications International had a net margin of 3.97% and a return on equity of 22.88%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm earned $2.05 earnings per share. Science Applications International’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities research analysts anticipate that Science Applications International Co. will post 8.21 EPS for the current year.

Science Applications International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.21%. Science Applications International’s dividend payout ratio is currently 26.62%.

Institutional Trading of Science Applications International

A number of hedge funds have recently made changes to their positions in SAIC. Cetera Investment Advisers raised its stake in shares of Science Applications International by 776.8% during the first quarter. Cetera Investment Advisers now owns 18,973 shares of the information technology services provider’s stock valued at $2,474,000 after purchasing an additional 16,809 shares during the period. Cetera Advisors LLC purchased a new stake in shares of Science Applications International during the first quarter valued at approximately $497,000. CWM LLC raised its stake in shares of Science Applications International by 56.8% during the second quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 147 shares during the period. SG Americas Securities LLC raised its stake in shares of Science Applications International by 16.3% during the second quarter. SG Americas Securities LLC now owns 10,845 shares of the information technology services provider’s stock valued at $1,275,000 after purchasing an additional 1,518 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Science Applications International by 4.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,129 shares of the information technology services provider’s stock valued at $485,000 after purchasing an additional 167 shares during the period. Hedge funds and other institutional investors 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.