Leidos Holdings , Inc. (NYSE:LDOS) director Gary Stephen May has sold 1,000 shares of company stock, according to a recent SEC filing. The transaction, dated August 13, 2024, involved shares sold at a weighted average price of $144.0169, with individual sales ranging from $143.83 to $144.38.
The total value of the shares sold by May amounted to approximately $144,016. Following the sale, May continues to hold 11,264 shares of Leidos Holdings, indicating a sustained interest in the company's performance and prospects.
Leidos Holdings, a leader in computer integrated systems design, has experienced varying market conditions, and such insider transactions are routinely monitored by investors for insights into executive sentiment about the company's future.
The SEC filing also included a footnote stating that May is willing to provide full information regarding the number of shares sold at each separate price within the range cited if requested by Leidos Holdings, its security holders, or the SEC staff.
Investors often consider such sales by directors and officers as a normal part of personal financial management but also keep a close watch for patterns or significant divestitures that might signal a change in the executive's outlook on the company's valuation or strategic direction.
Leidos Holdings, formerly known as SAIC, Inc., has its headquarters in Reston, Virginia, and serves clients with a range of technology and engineering solutions. As of the transaction date, the company's shares are publicly traded on the New York Stock Exchange under the ticker symbol LDOS.
In other recent news, Leidos Holdings, Inc. has been making significant strides in its business operations. The company reported a record quarter with a 7.7% year-over-year increase in revenue, reaching $4.13 billion. The adjusted EBITDA also saw a significant rise, hitting $559 million, a 33% increase from the previous year. Following these robust results, Leidos raised its full-year guidance.
Leidos has secured two notable contracts recently. An $86.4 million contract from the National Geospatial-Intelligence Agency for lifecycle management of analytics systems, and a $191 million contract to provide the U.S. Army with integrated lifecycle software and management solutions. The contracts underline the company's ongoing success and strategic focus.
The company's revenue guidance for 2024 has been raised to a range of $16.1 billion to $16.4 billion, with adjusted EBITDA expected to be around 12%. These are recent developments in the company's performance and strategic focus.
InvestingPro Insights
As investors scrutinize the insider sale by Leidos Holdings, Inc. (NYSE:LDOS) director Gary Stephen May, it's essential to consider the company's broader financial landscape. Leidos has been a steady presence in the Professional Services industry, and recent data from InvestingPro underscores this stability. With a market capitalization of $19.83 billion, the company maintains a significant footprint in the sector.
InvestingPro Tips suggest that Leidos has been consistent in rewarding shareholders, raising its dividend for 5 consecutive years and maintaining dividend payments for 13 consecutive years. This dividend reliability is a critical factor for income-focused investors. Moreover, the company is expected to remain profitable, with net income projected to grow this year. These insights are particularly relevant when juxtaposed with insider trading activity, as they provide a broader context for understanding the company's financial health and future prospects.
Looking at the company's performance metrics, Leidos trades at a P/E ratio of 45.81, which may be considered high, indicating that the stock is trading at a premium compared to earnings. However, it's worth noting that the company has demonstrated a solid revenue growth of 7.86% over the last twelve months as of Q2 2024. Additionally, the company's dividend yield stands at 1.05%, reflecting a commitment to returning value to shareholders.
For those seeking more in-depth analysis, InvestingPro offers additional tips, including insights into the company's trading volatility and debt levels. With 11 more tips available on InvestingPro for Leidos Holdings, investors can access a wealth of information to help inform their investment decisions.
For further details and expert analysis, interested readers can explore the full range of InvestingPro Tips at https://www.investing.com/pro/LDOS.
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