Science Applications International Co. (NYSE:SAIC – Get Rating) declared a quarterly dividend on Wednesday, June 1st, Wall Street Journal reports. Investors of record on Friday, July 15th will be paid a dividend of 0.37 per share by the information technology services provider on Friday, July 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Thursday, July 14th.
Science Applications International has increased its dividend by an average of 6.1% per year over the last three years. Science Applications International has a payout ratio of 21.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Science Applications International to earn $7.59 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 19.5%.
Science Applications International stock traded down $0.14 during trading hours on Wednesday, reaching $86.42. The company had a trading volume of 263,490 shares, compared to its average volume of 394,652. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.93 and a quick ratio of 0.89. The company has a 50-day moving average price of $86.82 and a 200 day moving average price of $85.84. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 18.08 and a beta of 0.80. Science Applications International has a 12-month low of $78.10 and a 12-month high of $96.50.
Science Applications International (NYSE:SAIC – Get Rating) last released its quarterly earnings results on Monday, March 28th. The information technology services provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.32. Science Applications International had a return on equity of 25.99% and a net margin of 3.75%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company posted $1.67 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts expect that Science Applications International will post 7.02 earnings per share for the current year.
A number of analysts recently commented on SAIC shares. StockNews.com started coverage on Science Applications International in a research report on Thursday, March 31st. They set a “buy” rating for the company. Wells Fargo & Company upped their price target on Science Applications International from $90.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 24th. Stifel Nicolaus began coverage on Science Applications International in a research report on Thursday, March 17th. They issued a “hold” rating for the company. Morgan Stanley dropped their price objective on Science Applications International from $101.00 to $99.00 and set an “overweight” rating for the company in a research note on Tuesday, March 29th. Finally, Truist Financial lowered Science Applications International from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research note on Friday, April 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $92.86.
In other Science Applications International news, EVP Steven G. Mahon sold 4,132 shares of the stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $91.03, for a total transaction of $376,135.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy J. Mayopoulos sold 3,500 shares of the firm’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $92.94, for a total value of $325,290.00. The disclosure for this sale can be found here. 1.12% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its holdings in Science Applications International by 19.5% in the first quarter. Bank of Montreal Can now owns 11,432 shares of the information technology services provider’s stock valued at $1,073,000 after acquiring an additional 1,862 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Science Applications International in the first quarter valued at approximately $978,000. Metropolitan Life Insurance Co NY raised its position in Science Applications International by 9.3% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 10,306 shares of the information technology services provider’s stock valued at $861,000 after purchasing an additional 877 shares during the period. Mirabella Financial Services LLP purchased a new stake in Science Applications International in the first quarter valued at approximately $738,000. Finally, Graham Capital Management L.P. increased its position in shares of Science Applications International by 153.3% during the first quarter. Graham Capital Management L.P. now owns 7,129 shares of the information technology services provider’s stock worth $657,000 after acquiring an additional 4,314 shares during the period. Institutional investors and hedge funds own 78.35% of the company’s stock.
Science Applications International Company Profile (Get Rating)
Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company’s 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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