Science Applications International Corp (NYSE:SAIC) Sees Significant Increase in Short Interest

Science Applications International Corp (NYSE:SAIC) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 1,390,000 shares, a growth of 8.6% from the April 30th total of 1,280,000 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily volume of 651,500 shares, the short-interest ratio is currently 2.1 days.

Several brokerages have issued reports on SAIC. Benchmark cut their price objective on shares of Science Applications International from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Barclays restated a “buy” rating and set a $115.00 price objective on shares of Science Applications International in a research report on Monday, January 27th. Goldman Sachs Group upgraded shares of Science Applications International from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $97.00 in a research report on Monday, April 20th. Wells Fargo & Co raised their price objective on shares of Science Applications International from $85.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Citigroup lowered their target price on shares of Science Applications International from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, March 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $99.73.

Shares of SAIC traded up $0.55 during mid-day trading on Friday, hitting $84.91. 255,321 shares of the company’s stock were exchanged, compared to its average volume of 639,111. Science Applications International has a 52 week low of $45.45 and a 52 week high of $96.80. The stock’s 50-day simple moving average is $80.26 and its 200-day simple moving average is $83.18. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 14.85 and a beta of 1.07. The company has a quick ratio of 1.19, a current ratio of 1.27 and a debt-to-equity ratio of 1.30.

Science Applications International (NYSE:SAIC) last announced its quarterly earnings data on Thursday, March 26th. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.24. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Science Applications International had a net margin of 3.54% and a return on equity of 25.09%. The firm’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same period last year, the firm posted $1.17 earnings per share. Analysts forecast that Science Applications International will post 6.1 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Thursday, April 9th were paid a $0.37 dividend. The ex-dividend date was Wednesday, April 8th. This represents a $1.48 dividend on an annualized basis and a yield of 1.74%. Science Applications International’s dividend payout ratio (DPR) is 26.15%.

In related news, CEO Nazzic S. Keene acquired 14,300 shares of the business’s stock in a transaction on Friday, April 3rd. The stock was purchased at an average cost of $70.75 per share, for a total transaction of $1,011,725.00. Following the completion of the transaction, the chief executive officer now directly owns 51,707 shares of the company’s stock, valued at approximately $3,658,270.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Yvette Kanouff acquired 1,500 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were bought at an average price of $70.35 per share, with a total value of $105,525.00. Following the completion of the transaction, the director now directly owns 2,399 shares of the company’s stock, valued at $168,769.65. The disclosure for this purchase can be found here. Company insiders own 1.64% of the company’s stock.

A number of large investors have recently made changes to their positions in SAIC. Boston Partners increased its stake in Science Applications International by 35.3% in the fourth quarter. Boston Partners now owns 3,177,785 shares of the information technology services provider’s stock valued at $276,555,000 after acquiring an additional 828,510 shares during the last quarter. Norges Bank bought a new position in Science Applications International in the fourth quarter valued at approximately $63,425,000. Silver Lake Advisory LLC increased its stake in Science Applications International by 10,929.8% in the first quarter. Silver Lake Advisory LLC now owns 648,000 shares of the information technology services provider’s stock valued at $505,000 after acquiring an additional 642,125 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Science Applications International in the first quarter valued at approximately $31,546,000. Finally, Sunriver Management LLC acquired a new stake in Science Applications International in the first quarter valued at approximately $28,077,000. 77.11% of the stock is currently owned by institutional investors and hedge funds.

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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