Science Applications International (NASDAQ:SAIC) Reaches New 52-Week High – Still a Buy?

Science Applications International Corporation (NASDAQ:SAIC) reached a new 52-week high on Thursday. The stock traded as high as $143.23 and last traded at $142.7270, with a volume of 245,587 shares changing hands. The stock had previously closed at $136.74.

Analysts Set New Price Targets

A number of analysts recently issued reports on SAIC shares. Stifel Nicolaus boosted their price objective on Science Applications International from $137.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, September 1st. Truist Financial boosted their price target on Science Applications International from $110.00 to $130.00 and gave the company a “hold” rating in a report on Tuesday, September 1st. Wall Street Zen raised Science Applications International from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 27th. UBS Group raised their target price on shares of Science Applications International from $108.00 to $123.00 and gave the company a “neutral” rating in a research report on Tuesday, September 1st. Finally, The Goldman Sachs Group upped their target price on Science Applications International from $93.00 to $103.00 and gave the company a “sell” rating in a research report on Tuesday, September 8th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Science Applications International presently has a consensus rating of “Hold” and an average target price of $125.22.

Science Applications International Stock Up 5.0%

The company has a debt-to-equity ratio of 1.71, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 16.79 and a beta of 0.31. The firm’s fifty day moving average is $129.39 and its 200-day moving average is $114.62.

Science Applications International (NASDAQ:SAIC) last announced its quarterly earnings results on Monday, August 31st. The company reported $3.01 EPS for the quarter, beating the consensus estimate of $2.31 by $0.70. Science Applications International had a net margin of 5.13% and a return on equity of 34.68%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the business earned $3.63 earnings per share. Science Applications International’s revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Science Applications International Corporation will post 10.77 earnings per share for the current year.

Science Applications International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 9th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, October 9th. Science Applications International’s dividend payout ratio (DPR) is presently 17.31%.

Insider Buying and Selling

In other news, Director C. David Cush bought 1,000 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was bought at an average cost of $132.50 per share, with a total value of $132,500.00. Following the purchase, the director owned 1,000 shares of the company’s stock, valued at approximately $132,500. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Science Applications International

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAIC. Dimensional Fund Advisors LP lifted its position in Science Applications International by 13.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,535,288 shares of the company’s stock worth $145,730,000 after acquiring an additional 185,066 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Science Applications International during the 2nd quarter worth approximately $44,044,000. Bank of America Corp DE increased its stake in Science Applications International by 17.5% in the first quarter. Bank of America Corp DE now owns 380,538 shares of the company’s stock valued at $36,121,000 after purchasing an additional 56,720 shares in the last quarter. MAC Alpha Capital Management LP increased its holdings in Science Applications International by 43.8% during the 2nd quarter. MAC Alpha Capital Management LP now owns 174,892 shares of the company’s stock worth $19,311,000 after purchasing an additional 53,277 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Science Applications International by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 100,737 shares of the company’s stock valued at $9,562,000 after buying an additional 1,743 shares during the last quarter. 76.00% of the stock is owned by institutional investors.

Science Applications International Company Profile

Science Applications International Corporation (SAIC) is a technology integrator and professional services company that supports the U.S. government and its missions. The company provides information technology modernization, systems engineering, mission support, enterprise transformation, and program management services to defense, intelligence, space, federal civilian, and national security customers.

SAIC’s capabilities include cloud computing, artificial intelligence and machine learning, cybersecurity, software development, data analytics, digital engineering, network modernization, and IT infrastructure management.