Science Applications (NASDAQ:SAIC) International Corp (NYSE:SAIC) executive vice president of Army operations, Jackson James Joshua, has made a significant purchase of the company's stock, according to a recent filing with the Securities and Exchange Commission. The transaction, which occurred on July 10, 2024, involved the acquisition of 400 shares at a price of $114.28 per share, totaling approximately $45,710.
This move by Jackson reflects a notable investment in the company, with the shares acquired adding to his already substantial holdings. Following the transaction, Jackson's direct ownership in SAIC stands at 13,677 shares. Additionally, he holds an indirect interest in 6,299.4852 shares through a key employee stock deferred plan (KESDP), as noted in the SEC filing.
SAIC, a leader in the computer integrated systems design industry, has a strong presence in the technology sector. The company, incorporated in Delaware and headquartered in Reston, Virginia, is well-known for its services to the US government, including the Department of Defense and various federal agencies.
Investors often keep an eye on insider transactions such as these, as they can provide insights into an executive's confidence in the company's future performance. Jackson's recent stock purchase is a positive signal to the market, suggesting that the executive is bullish on SAIC's prospects.
The filing was signed off by Hilary L. Hageman, Attorney-in-fact, on July 11, 2024. Jackson's role as EVP of Army operations at SAIC positions him as a key figure within the organization, with a deep understanding of the company's operations and strategic direction.
Science Applications International Corp's stock is publicly traded on the New York Stock Exchange under the ticker symbol SAIC. Investors and market watchers will likely be watching to see how this insider activity might influence the company's stock performance in the future.
In other recent news, the European Union has initiated tariffs on Chinese electric vehicles, affecting manufacturers like BYD (SZ:002594), Geely, and SAIC. These tariffs range from 17.4% to 37.6% and are part of an ongoing EU anti-subsidy investigation. Similarly, Canada is considering implementing tariffs on Chinese-made electric vehicles, reflecting global concerns over Chinese competitive practices in the electric vehicle sector.
Science Applications International Corp (SAIC) has experienced recent developments in its financial performance and strategy. Jefferies has maintained a 'Hold' rating on SAIC's stock, citing the company's focus on growth vectors and investment plans. SAIC is investing in new capabilities, which are expected to yield quicker returns compared to the transition of existing work.
SAIC has also reported a steady financial performance in the first quarter of fiscal year 2025, with a revenue of $1.85 billion and an adjusted EBITDA of $166 million. The company aims to increase pro-forma organic growth and has committed to repurchasing $350 million to $400 million in shares this fiscal year. These developments reflect SAIC's commitment to long-term growth and market competitiveness.
InvestingPro Insights
Following the significant stock purchase by Science Applications International Corp's (NYSE:SAIC) executive vice president of Army operations, Jackson James Joshua, investors may find additional context from InvestingPro data and tips valuable. The company's current market capitalization stands at $5.96 billion, reflecting its substantial size in the technology services sector. With a P/E ratio of 13.35, SAIC appears to be trading at a relatively low valuation compared to near-term earnings growth, which is further underscored by a PEG ratio of 0.28 over the last twelve months as of Q1 2025. This indicates potential for growth at a reasonable price.
InvestingPro Tips suggest that management's aggressive share buybacks and a high shareholder yield are key factors that might pique the interest of value-oriented investors. Furthermore, the stock's RSI indicates it is in oversold territory, which could signal a buying opportunity for those looking at technical analysis. It's worth noting that SAIC has maintained dividend payments for 12 consecutive years, underscoring its commitment to returning value to shareholders, with a dividend yield of 1.3% as of the last recorded date in 2024.
For investors seeking more comprehensive insights, there are 8 additional InvestingPro Tips available for SAIC, which can be accessed through the dedicated InvestingPro platform. By using the coupon code PRONEWS24, readers can get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, allowing them to leverage advanced tools and insights to make informed investment decisions.
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