Science Applications International (NYSE:SAIC) Hits New 1-Year Low – Time to Sell?

Science Applications International Co. (NYSE:SAIC)’s share 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 trading hands. The stock had previously closed at $115.96.

Analysts Set New Price Targets

A number of analysts recently commented on SAIC shares. TD Cowen boosted their target price on Science Applications International from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, September 6th. UBS Group initiated coverage on Science Applications International in a report on Monday, December 2nd. They issued a “neutral” rating and a $134.00 target price on the stock. Truist Financial upped their price objective on shares of Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Friday, September 6th. JPMorgan Chase & Co. reduced their price objective on shares of Science Applications International from $170.00 to $148.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Finally, Barclays raised 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 research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.25.

Science Applications International Price Performance

The business’s fifty day simple moving average is $137.62 and its 200-day simple moving average is $129.23. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20. The firm has a market cap of $5.62 billion, a P/E ratio of 19.20 and a beta of 0.64.

Science Applications International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a $0.37 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.48 annualized dividend and a dividend yield of 1.30%. Science Applications International’s payout ratio is currently 24.96%.

Institutional Investors Weigh In On Science Applications International

A number of hedge funds have recently made changes to their positions in SAIC. State Street Corp raised its holdings in Science Applications International by 1.0% in the third quarter. State Street Corp now owns 1,577,757 shares of the information technology services provider’s stock worth $219,734,000 after purchasing an additional 15,166 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Science Applications International by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,108,748 shares of the information technology services provider’s stock valued at $130,333,000 after purchasing an additional 56,414 shares during the period. Geode Capital Management LLC grew its holdings in shares of Science Applications International by 1.9% in the third quarter. Geode Capital Management LLC now owns 985,105 shares of the information technology services provider’s stock valued at $137,227,000 after purchasing an additional 18,102 shares in the last quarter. Bank of New York Mellon Corp increased its position in Science Applications International by 4.9% during the second quarter. Bank of New York Mellon Corp now owns 557,299 shares of the information technology services provider’s stock valued at $65,511,000 after acquiring an additional 25,807 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Science Applications International by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 518,915 shares of the information technology services provider’s stock worth $72,269,000 after purchasing an additional 6,780 shares during the period. 76.00% of the stock is currently owned by institutional investors.

Science Applications International Company Profile

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.