Science Applications International Co. (NYSE:SAIC) announced a quarterly dividend on Friday, September 3rd, Wall Street Journal reports. Investors of record on Friday, October 15th will be paid a dividend of 0.37 per share by the information technology services provider on Friday, October 29th. This represents a $1.48 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Thursday, October 14th.
Science Applications International has increased its dividend payment by 19.4% over the last three years. Science Applications International has a dividend payout ratio of 23.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Science Applications International to earn $7.12 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 20.8%.
SAIC stock opened at $88.17 on Wednesday. The stock’s 50 day simple moving average is $84.80 and its 200 day simple moving average is $87.24. Science Applications International has a fifty-two week low of $72.44 and a fifty-two week high of $103.95. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.87 and a current ratio of 0.97. The company has a market cap of $5.08 billion, a P/E ratio of 18.24 and a beta of 0.90.
Separately, Cowen reaffirmed a “buy” rating on shares of Science Applications International in a research note on Thursday, September 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Science Applications International has an average rating of “Hold” and an average target price of $97.44.
A hedge fund recently raised its stake in Science Applications International stock. Morgan Stanley raised its stake in Science Applications International Co. (NYSE:SAIC) by 12.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 836,110 shares of the information technology services provider’s stock after purchasing an additional 91,475 shares during the quarter. Morgan Stanley owned 1.44% of Science Applications International worth $73,352,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 75.72% of the company’s stock.
About Science Applications International
Science Applications International Corp. is a provider of technical, engineering and enterprise information technology (IT) services primarily to the U.S. government. Its offerings include: engineering; technology integration; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; and end-to-end services spanning the design, development, integration, deployment, management and operations, sustainment and security of its customers’ entire IT infrastructure.
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