Science Applications International (NYSE:SAIC) Reaches New 52-Week High – Time to Buy?

Science Applications International Co. (NYSE:SAIC)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $148.94 and last traded at $148.90, with a volume of 167516 shares traded. The stock had previously closed at $146.14.

Analysts Set New Price Targets

Several research analysts recently commented on SAIC shares. JPMorgan Chase & Co. raised Science Applications International from a “neutral” rating to an “overweight” rating and increased their price target for the company from $150.00 to $170.00 in a research report on Wednesday, October 2nd. Citigroup raised their target price on shares of Science Applications International from $160.00 to $176.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Truist Financial upped their price target on shares of Science Applications International from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Friday, September 6th. StockNews.com cut Science Applications International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, TD Cowen boosted their price target on Science Applications International from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $150.43.

Science Applications International Stock Performance

The company has a market capitalization of $7.37 billion, a P/E ratio of 26.61 and a beta of 0.70. The company has a fifty day moving average price of $139.46 and a two-hundred day moving average price of $129.63. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85.

Science Applications International (NYSE:SAIC) last issued its earnings results on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.19. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the company posted $2.05 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts forecast that Science Applications International Co. will post 8.2 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a $0.37 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.99%. Science Applications International’s dividend payout ratio is presently 26.62%.

Hedge Funds Weigh In On Science Applications International

A number of hedge funds have recently bought and sold shares of SAIC. GSA Capital Partners LLP bought a new position in shares of Science Applications International in the third quarter valued at approximately $430,000. Versor Investments LP purchased a new position in shares of Science Applications International in the 3rd quarter worth about $1,054,000. Crossmark Global Holdings Inc. grew its position in Science Applications International by 20.0% during the third quarter. Crossmark Global Holdings Inc. now owns 3,727 shares of the information technology services provider’s stock valued at $520,000 after buying an additional 620 shares during the period. Covestor Ltd raised its position in Science Applications International by 45.1% in the third quarter. Covestor Ltd now owns 1,355 shares of the information technology services provider’s stock worth $189,000 after acquiring an additional 421 shares during the period. Finally, Atria Investments Inc boosted its stake in Science Applications International by 56.9% in the third quarter. Atria Investments Inc now owns 3,009 shares of the information technology services provider’s stock valued at $419,000 after acquiring an additional 1,091 shares during the last quarter. 76.00% of the stock is owned by hedge funds and other 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.