Science Applications International Co. (NYSE: SAIC – Get Rating) gapped up prior to trading on Monday after the company announced better than expected quarterly earnings. The stock had previously closed at $ 88.10, but opened at $ 93.86. Science Applications International shares last traded at $ 92.95, with a volume of 1,572 shares.
The information technology services provider reported $ 1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 1.77 by $ 0.11. Science Applications International had a return on equity of 25.99% and a net margin of 3.75%. The firm had revenue of $ 2 billion during the quarter, compared to analysts’ expectations of $ 1.93 billion. During the same quarter last year, the business posted $ 1.94 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be given a dividend of $ 0.37 per share. This represents a $ 1.48 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, July 14th. Science Applications International’s dividend payout ratio is currently 31.03%.
Several analysts recently issued reports on the company. Cowen increased their target price on Science Applications International from $ 111.00 to $ 120.00 and gave the stock an “outperform” rating in a research report on Tuesday. Morgan Stanley cut their target price on Science Applications International from $ 101.00 to $ 99.00 and set an “overweight” rating for the company in a research report on Tuesday, March 29th. Wells Fargo & Company increased their price target on Science Applications International from $ 90.00 to $ 96.00 and gave the company an “equal weight” rating in a research note on Thursday, March 24th. Cowen increased their price target on Science Applications International from $ 111.00 to $ 120.00 in a research note on Tuesday. Finally, StockNews.com started coverage on Science Applications International in a research note on Thursday, March 31st. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $ 99.44.
In related news, Director Timothy J. Mayopoulos sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $ 92.94, for a total transaction of $ 325,290.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven G. Mahon sold 4,132 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $ 91.03, for a total value of $ 376,135.96. The disclosure for this sale can be found here. 1.12% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Brinker Capital Investments LLC lifted its stake in shares of Science Applications International by 67.0% during the 4th quarter. Brinker Capital Investments LLC now owns 25,371 shares of the information technology services provider’s stock worth $ 2,121,000 after acquiring an additional 10,179 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Science Applications International during the 4th quarter worth $ 4,732,000. JPMorgan Chase & Co. increased its holdings in Science Applications International by 396.6% during the 4th quarter. JPMorgan Chase & Co. now owns 790,697 shares of the information technology services provider’s stock worth $ 66,094,000 after purchasing an additional 631,486 shares during the period. Farmers & Merchants Investments Inc. increased its holdings in Science Applications International by 0.9% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 40,176 shares of the information technology services provider’s stock worth $ 3,358,000 after purchasing an additional 377 shares during the period. Finally, Bessemer Group Inc. increased its holdings in Science Applications International by 59.0% during the 4th quarter. Bessemer Group Inc. now owns 4,045 shares of the information technology services provider’s stock worth $ 338,000 after purchasing an additional 1,501 shares during the period. 78.35% of the stock is owned by hedge funds and other institutional investors.
The firm has a fifty day simple moving average of $ 86.67 and a 200 day simple moving average of $ 85.93. The company has a market capitalization of $ 5.31 billion, a PE ratio of 19.86 and a beta of 0.79. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.89 and a current ratio of 0.93.
About Science Applications International: (NYSE: SAIC)
Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company offerings include engineering; technology integration; IT modernization; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; 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 cloud migration, managed services, infrastructure modernization, and enterprise IT-as -a-service solutions.
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