Science Applications International Corp (NYSE:SAIC) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 2,003,360 shares, a growth of 46.7% from the March 29th total of 1,365,666 shares. Based on an average trading volume of 523,320 shares, the days-to-cover ratio is currently 3.8 days. Currently, 3.9% of the shares of the company are sold short.
SAIC has been the topic of several research reports. Wells Fargo & Co boosted their price objective on shares of Science Applications International from $70.00 to $77.00 and gave the stock a “market perform” rating in a report on Friday, March 29th. Goldman Sachs Group initiated coverage on shares of Science Applications International in a report on Thursday, May 9th. They set a “neutral” rating and a $77.00 price objective on the stock. TheStreet downgraded shares of Science Applications International from a “b” rating to a “c+” rating in a report on Tuesday, April 9th. ValuEngine upgraded shares of Science Applications International from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Finally, Zacks Investment Research upgraded shares of Science Applications International from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a report on Tuesday, March 12th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $89.25.
In related news, CEO Anthony J. Moraco sold 1,803 shares of Science Applications International stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $75.00, for a total value of $135,225.00. Following the transaction, the chief executive officer now owns 59,151 shares in the company, valued at approximately $4,436,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.05% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. American Century Companies Inc. acquired a new position in shares of Science Applications International during the fourth quarter worth approximately $2,124,000. Strs Ohio lifted its position in shares of Science Applications International by 10.8% during the fourth quarter. Strs Ohio now owns 4,100 shares of the information technology services provider’s stock worth $261,000 after purchasing an additional 400 shares in the last quarter. Jane Street Group LLC acquired a new position in Science Applications International in the third quarter valued at approximately $322,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Science Applications International in the fourth quarter valued at approximately $1,573,000. Finally, Mackay Shields LLC acquired a new position in Science Applications International in the fourth quarter valued at approximately $598,000. Institutional investors own 64.63% of the company’s stock.
NYSE SAIC traded up $1.47 on Friday, reaching $78.72. The company’s stock had a trading volume of 336,911 shares, compared to its average volume of 461,136. The stock has a market cap of $4.66 billion, a P/E ratio of 15.62, a PEG ratio of 2.84 and a beta of 1.52. Science Applications International has a 52 week low of $58.19 and a 52 week high of $93.31. The company has a quick ratio of 1.52, a current ratio of 1.60 and a debt-to-equity ratio of 1.38.
Science Applications International (NYSE:SAIC) last released its quarterly earnings results on Thursday, March 28th. The information technology services provider reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.28. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. Science Applications International had a net margin of 2.94% and a return on equity of 32.34%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 earnings per share. Research analysts anticipate that Science Applications International will post 5.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a $0.37 dividend. The ex-dividend date was Thursday, April 11th. This is a positive change from Science Applications International’s previous quarterly dividend of $0.31. This represents a $1.48 dividend on an annualized basis and a yield of 1.88%. Science Applications International’s payout ratio is 29.37%.
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About Science Applications International
Science Applications International Corp. engages in the provision of full life cycle services and solutions in the technical, engineering, intelligence, and enterprise information technology markets. It offers technology and equipment platform integration; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; and end-to-end services such as the design, development, integration, deployment, management and operations, and sustainment and security of its customer’s information technology infrastructure.
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