Science Applications International (NYSE:SAIC) Shares Down 7.2% – Here’s What Happened

Science Applications International Co. (NYSE:SAIC)’s share price dropped 7.2% on Thursday . The company traded as low as $117.00 and last traded at $111.10. Approximately 59,160 shares traded hands during trading, a decline of 87% from the average daily volume of 453,770 shares. The stock had previously closed at $119.76.

Analyst Upgrades and Downgrades

A number of research firms have commented on SAIC. Wells Fargo & Company cut their target price on shares of Science Applications International from $154.00 to $149.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. UBS Group began coverage on Science Applications International in a research report on Monday, December 2nd. They set a “neutral” rating and a $134.00 price objective for the company. Citigroup raised their target price on Science Applications International from $160.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen lowered shares of Science Applications International from a “buy” rating to a “hold” rating and reduced their price target for the company from $155.00 to $120.00 in a research report on Wednesday, January 8th. Finally, StockNews.com raised shares of Science Applications International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Science Applications International currently has a consensus rating of “Hold” and an average target price of $139.38.

Science Applications International Trading Down 1.5 %

The stock has a 50 day moving average of $116.66 and a 200-day moving average of $127.68. The company has a market capitalization of $5.33 billion, a P/E ratio of 14.95 and a beta of 0.66. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20.

Science Applications International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 10th were paid a $0.37 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.36%. Science Applications International’s dividend payout ratio (DPR) is presently 24.96%.

Insider Activity

In other Science Applications International news, EVP Barbara Supplee purchased 425 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average cost of $116.36 per share, for a total transaction of $49,453.00. Following the purchase, the executive vice president now directly owns 3,579 shares of the company’s stock, valued at $416,452.44. This trade represents a 13.47 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Katharina G. Mcfarland sold 3,239 shares of Science Applications International stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $117.70, for a total transaction of $381,230.30. Following the sale, the director now owns 6,864 shares in the company, valued at approximately $807,892.80. The trade was a 32.06 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SAIC. State Street Corp grew its holdings in shares of 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 valued at $219,734,000 after purchasing an additional 15,166 shares in the last quarter. Geode Capital Management LLC lifted its position in Science Applications International by 1.9% during 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 during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Science Applications International by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 518,915 shares of the information technology services provider’s stock worth $72,269,000 after buying an additional 6,780 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Science Applications International by 9.7% in the 2nd quarter. AQR Capital Management LLC now owns 313,802 shares of the information technology services provider’s stock worth $36,887,000 after buying an additional 27,664 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Science Applications International by 21.9% during 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 in the last quarter. Institutional investors own 76.00% of the company’s stock.

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.