Science Applications International (NYSE:SAIC) Sets New 52-Week Low – Here’s Why

Science Applications International Co. (NYSE:SAIC)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $111.34 and last traded at $112.92, with a volume of 249397 shares changing hands. The stock had previously closed at $115.96.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group dropped their price target on Science Applications International from $124.00 to $103.00 and set a “sell” rating on the stock in a research report on Thursday. Wells Fargo & Company raised their target price on shares of Science Applications International from $147.00 to $154.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Barclays upped their price target on shares of Science Applications International from $135.00 to $150.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Citigroup raised their price objective on shares of Science Applications International from $160.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, UBS Group initiated coverage on shares of Science Applications International in a research note on Monday, December 2nd. They issued a “neutral” rating and a $134.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.38.

Science Applications International Price Performance

The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 19.31 and a beta of 0.64. The company’s fifty day moving average is $135.92 and its 200 day moving average is $128.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20.

Science Applications International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, January 10th. Science Applications International’s payout ratio is 24.96%.

Insider Activity at Science Applications International

In other news, EVP Barbara Supplee purchased 425 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were purchased at an average cost of $116.36 per share, with a total value of $49,453.00. Following the completion of the transaction, the executive vice president now owns 3,579 shares of the company’s stock, valued at $416,452.44. The trade was a 13.47 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in shares of Science Applications International by 30,868.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,955 shares of the information technology services provider’s stock worth $690,000 after acquiring an additional 4,939 shares during the last quarter. Seizert Capital Partners LLC lifted its stake in shares of Science Applications International by 36.3% during the 3rd quarter. Seizert Capital Partners LLC now owns 38,803 shares of the information technology services provider’s stock worth $5,404,000 after buying an additional 10,326 shares during the last quarter. Van ECK Associates Corp grew its stake in Science Applications International by 21.9% in the 3rd quarter. Van ECK Associates Corp now owns 250,589 shares of the information technology services provider’s stock valued at $36,070,000 after buying an additional 44,990 shares during the last quarter. Cassaday & Co Wealth Management LLC raised its holdings in Science Applications International by 59.7% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 12,834 shares of the information technology services provider’s stock valued at $1,787,000 after acquiring an additional 4,796 shares during the period. Finally, International Assets Investment Management LLC lifted its position in Science Applications International by 36,732.4% during the third quarter. International Assets Investment Management LLC now owns 245,672 shares of the information technology services provider’s stock worth $34,215,000 after acquiring an additional 245,005 shares during the last quarter. 76.00% of the stock is currently owned by institutional investors and hedge funds.

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.