Science Applications International (NYSE:SAIC) Stock Price Down 7.2% – Should You Sell?

Science Applications International Co. (NYSE:SAIC)’s share price dropped 7.2% during trading 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.

Wall Street Analysts Forecast Growth

SAIC has been the topic of several research reports. Wells Fargo & Company cut their price target on shares of Science Applications International from $154.00 to $149.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. UBS Group initiated coverage on shares of Science Applications International in a report on Monday, December 2nd. They set a “neutral” rating and a $134.00 target price for the company. Citigroup lifted their price objective on Science Applications International from $160.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group lowered their target price on Science Applications International from $124.00 to $103.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Finally, StockNews.com upgraded Science Applications International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $139.38.

Science Applications International Trading Down 6.0 %

The company has a 50 day moving average price of $116.97 and a two-hundred day moving average price of $127.80. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of 18.95 and a beta of 0.66. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87.

Science Applications International Announces Dividend

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Science Applications International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of Science Applications International by 1.0% in the 3rd quarter. State Street Corp now owns 1,577,757 shares of the information technology services provider’s stock valued at $219,734,000 after buying an additional 15,166 shares during the period. Geode Capital Management LLC increased its stake 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 worth $137,227,000 after purchasing an additional 18,102 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Science Applications International by 1.3% during 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 in the last quarter. AQR Capital Management LLC boosted its stake in shares of Science Applications International by 9.7% in the second quarter. AQR Capital Management LLC now owns 313,802 shares of the information technology services provider’s stock valued at $36,887,000 after purchasing an additional 27,664 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Science Applications International by 21.9% in the third quarter. Van ECK Associates Corp now owns 250,589 shares of the information technology services provider’s stock valued at $36,070,000 after purchasing an additional 44,990 shares in the last quarter. Institutional investors and hedge funds own 76.00% of the company’s stock.

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.