Science Applications International (NYSE:SAIC) Trading 2.4% Higher on Insider Buying Activity

Science Applications International Co. (NYSE:SAIC) shares rose 2.4% on Tuesday following insider buying activity. The company traded as high as $124.37 and last traded at $124.02. Approximately 39,490 shares traded hands during trading, a decline of 87% from the average daily volume of 293,350 shares. The stock had previously closed at $121.16.

Specifically, EVP Vincent P. Difronzo bought 795 shares of the stock in a transaction dated Friday, April 12th. The stock was bought at an average cost of $126.04 per share, for a total transaction of $100,201.80. Following the completion of the purchase, the executive vice president now owns 8,772 shares in the company, valued at approximately $1,105,622.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Vincent P. Difronzo bought 795 shares of Science Applications International stock in a transaction dated Friday, April 12th. The shares were bought at an average cost of $126.04 per share, for a total transaction of $100,201.80. Following the completion of the transaction, the executive vice president now owns 8,772 shares of the company’s stock, valued at $1,105,622.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Toni Townes-Whitley purchased 3,000 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was bought at an average cost of $125.96 per share, with a total value of $377,880.00. Following the acquisition, the chief executive officer now owns 46,795 shares of the company’s stock, valued at $5,894,298.20. The disclosure for this purchase can be found here. Insiders own 1.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. StockNews.com upgraded Science Applications International from a “hold” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company raised their target price on shares of Science Applications International from $141.00 to $143.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group dropped their price target on shares of Science Applications International from $113.00 to $110.00 and set a “sell” rating for the company in a research note on Thursday, February 29th. JPMorgan Chase & Co. reduced their price objective on shares of Science Applications International from $142.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 19th. Finally, Truist Financial reiterated a “hold” rating and set a $130.00 target price on shares of Science Applications International in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $127.60.

Science Applications International Stock Up 0.5 %

The business’s 50-day moving average is $133.36 and its two-hundred day moving average is $124.61. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 14.09 and a beta of 0.70. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.97 and a current ratio of 0.98.

Science Applications International (NYSE:SAIC) last posted its earnings results on Monday, March 18th. The information technology services provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.01). Science Applications International had a return on equity of 23.73% and a net margin of 6.41%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the business posted $2.04 earnings per share. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. On average, equities analysts anticipate that Science Applications International Co. will post 8.11 earnings per share for the current year.

Science Applications International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.19%. Science Applications International’s payout ratio is 16.72%.

Institutional Investors Weigh In On Science Applications International

Several large investors have recently modified their holdings of SAIC. BlackDiamond Wealth Management LLC grew its position in shares of Science Applications International by 1.6% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,239 shares of the information technology services provider’s stock valued at $668,000 after purchasing an additional 80 shares during the period. Commonwealth Equity Services LLC lifted its stake in Science Applications International by 2.3% in the second quarter. Commonwealth Equity Services LLC now owns 4,118 shares of the information technology services provider’s stock valued at $463,000 after buying an additional 94 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Science Applications International by 0.6% in the third quarter. Thrivent Financial for Lutherans now owns 14,738 shares of the information technology services provider’s stock valued at $1,303,000 after buying an additional 94 shares during the period. Parallel Advisors LLC increased its position in shares of Science Applications International by 62.9% during the fourth quarter. Parallel Advisors LLC now owns 259 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Science Applications International by 100.0% during the second quarter. Quarry LP now owns 218 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 109 shares during the period. 76.00% of the stock is currently 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.