Investors keeping tabs on Science Applications (NASDAQ:SAIC) International Corp (NYSE:SAIC) might be interested to learn that the company's EVP General Counsel and Secretary, Hilary Hageman, has recently made a notable purchase of the company's stock. On April 12, Hageman acquired 100 shares of SAIC common stock at a price of $125.75 per share, totaling an investment of $12,575.
This transaction indicates a vote of confidence from an insider in the company's future performance. Following this acquisition, Hageman's stake in the company has increased to a total of 18,507 shares of common stock, as per the latest filing with the Securities and Exchange Commission.
Science Applications International Corp, known for its services in computer integrated systems design, has been closely watched by investors for signs of growth and stability within the tech sector. Insider transactions such as these are often considered a signal of the leadership's belief in the company's direction and potential for value creation.
While the SEC filing did not disclose any specific reasons for this transaction, it is a routine disclosure that provides transparency into the actions of company executives and their financial dealings with the company's stock. As of now, there are no further details about any additional transactions or plans by Hageman or other executives at SAIC.
Investors and market watchers typically monitor such insider activities to gauge the sentiment of company leadership regarding their own firm's prospects. These transactions are public records and can be found in the filings made with the SEC. Science Applications International Corp has not issued any statements regarding this recent purchase by Hageman.
InvestingPro Insights
Recent insider trading activity by SAIC's EVP, General Counsel and Secretary, Hilary Hageman, has brought the company into the spotlight. To provide investors with a deeper understanding of Science Applications International Corp's (NYSE:SAIC) financial health and market position, we turn to the latest data and analysis from InvestingPro. Here are some key metrics and insights:
- Market Cap (Adjusted): SAIC currently has a market capitalization of $6.26 billion, reflecting its standing in the industry and the scale of its operations.
- P/E Ratio: The company's price-to-earnings (P/E) ratio stands at 13.51, suggesting that the stock might be trading at a reasonable valuation compared to near-term earnings growth.
- Dividend Yield: With a dividend yield of 1.14% as of the latest data, SAIC has demonstrated a commitment to returning value to shareholders, maintaining dividend payments for 12 consecutive years.
From the InvestingPro Tips, two particularly stand out in relation to the article:
- Management's aggressive share buyback strategy is a positive signal that aligns with Hageman's recent stock purchase, indicating a strong belief in the company's valuation and future performance.
- Despite recent challenges, SAIC remains profitable over the last twelve months, and analysts predict profitability for the current year. This could provide investors with reassurance about the company's financial stability.
For those looking to delve further into SAIC's performance and strategic position, InvestingPro offers additional tips on the company. With a total of 9 InvestingPro Tips available, investors can gain a comprehensive view of the company's financials, market performance, and analyst forecasts. To access these insights, visit InvestingPro and don't forget to use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription.
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