SAIC has secured a $170.9 million cybersecurity contract with Texas' DIR to enhance state agency network protection.
Quiver AI Summary
Science Applications International Corp. (SAIC) has secured a $170.9 million contract with the State of Texas’ Department of Information Resources to deliver advanced cybersecurity services aimed at safeguarding state agency networks. This contract reinforces SAIC’s expanding collaboration with state and local governments, which includes support for clients in Virginia, Colorado, and California. The services provided under this contract will include security operations, risk assessment, and compliance management to enhance the overall security environment for DIR customers. SAIC's executive vice president highlighted their commitment to leveraging innovative technologies to improve service delivery and address emerging cybersecurity threats.
Potential Positives
- SAIC has been awarded a significant contract valued at $170.9 million from the State of Texas’ Department of Information Resources, enhancing its position in the cybersecurity sector.
- This contract strengthens SAIC’s partnership with state and local governments, which may lead to future opportunities and increased credibility in providing IT and cybersecurity services.
- The company is recognized as the prime contractor on this project, showcasing its capability and leadership in delivering robust cybersecurity solutions.
- SAIC's commitment to applying cutting-edge technologies to address emerging cybersecurity threats indicates a proactive approach to innovation, potentially attracting more clients and enhancing its market reputation.
Potential Negatives
- The press release contains numerous forward-looking statements that introduce uncertainty regarding the company’s future performance, which could raise concerns among investors about potential discrepancies between projected and actual results.
- The language employed in discussing the risks associated with forward-looking statements may cast doubt on the stability and reliability of SAIC's future financial outlook.
- While SAIC is highlighted as a premier technology integrator, the mention of requiring significant expertise and investment in innovation could indicate reliance on continuously evolving technology demands, which may pose challenges for consistent service delivery.
FAQ
What cybersecurity services will SAIC provide under the Texas contract?
SAIC will offer security operations services, risk management, compliance, and security tool deployment for Texas agencies.
What is the value of SAIC's new contract with Texas?
The contract awarded to SAIC by the State of Texas has a projected value of $170.9 million.
How does SAIC support local and state governments?
SAIC provides IT and cybersecurity services to multiple states, enhancing their cybersecurity capabilities and supporting government agencies.
Where is SAIC headquartered?
SAIC is headquartered in Reston, Virginia.
What are SAIC's key service areas?
SAIC focuses on mission IT, enterprise IT, engineering services, and professional services across defense, space, and civilian markets.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SAIC Congressional Stock Trading
Members of Congress have traded $SAIC stock 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $SAIC stock by members of Congress over the last 6 months:
- REPRESENTATIVE GERALD E. CONNOLLY has traded it 2 times. They made 0 purchases and 2 sales worth up to $30,000 on 10/10, 07/02.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$SAIC Insider Trading Activity
$SAIC insiders have traded $SAIC stock on the open market 5 times in the past 6 months. Of those trades, 5 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $SAIC stock by insiders over the last 6 months:
- BARBARA SUPPLEE (EVP, Navy) has traded it 2 times. They made 2 purchases, buying 575 shares and 0 sales.
- MICHELLE A. O'HARA (EVP, CHRO) purchased 1,000 shares.
- JAMES JOSHUA JACKSON (EVP, Army) purchased 400 shares.
- VINCENT P. DIFRONZO (EVP,-Air Force & Comb Commands) purchased 215 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SAIC Hedge Fund Activity
We have seen 171 institutional investors add shares of $SAIC stock to their portfolio, and 215 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WELLINGTON MANAGEMENT GROUP LLP removed 1,689,028 shares (-38.1%) from their portfolio in Q3 2024
- FULLER & THALER ASSET MANAGEMENT, INC. added 269,759 shares (+18.6%) to their portfolio in Q3 2024
- INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC added 245,005 shares (+36732.4%) to their portfolio in Q3 2024
- CITADEL ADVISORS LLC added 226,081 shares (+401.6%) to their portfolio in Q3 2024
- INVESCO LTD. removed 196,693 shares (-19.2%) from their portfolio in Q3 2024
- FMR LLC removed 166,759 shares (-7.0%) from their portfolio in Q3 2024
- AMERICAN CENTURY COMPANIES INC added 101,451 shares (+26.8%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
RESTON, Va., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Science Applications International Corp. (NASDAQ: SAIC ), has been awarded a new contract from the State of Texas’ Department of Information Resources (DIR) to provide robust cybersecurity services in protection of state agency networks. The contract has a projected value of $170.9 million.
This award builds upon SAIC’s growing partnership and support of state and local governments. In addition to the State of Texas, SAIC also delivers high-end IT and cybersecurity services to clients in the Commonwealth of Virginia, State of Colorado, and State of California.
"We are excited to support our clients’ cybersecurity services by applying cutting-edge technologies to enhance the speed of delivery and stay ahead of emerging threats," said Srini Attili, executive vice president of the Civilian Business Group at SAIC. "This award expands our cybersecurity work in Texas, and is a result of our employees' expertise, investment in innovation and commitment to integrating solutions that will deliver superior service for the Texas government and its citizens."
Under this contract, SAIC will provide security operations services to assist DIR customers in maintaining and deploying security tools; monitoring and managing the overall security environments; assessing, managing, and mitigating risks; and meeting the compliance requirements of the state, federal or industry regulations.
SAIC is the prime contractor on the contract.
About SAIC
SAIC
is a premier Fortune 500® technology integrator focused on advancing the power of technology and innovation to serve and protect our world. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in mission IT, enterprise IT, engineering services and professional services. We integrate emerging technology, rapidly and securely, into mission critical operations that modernize and enable critical national imperatives.
We are approximately 24,000 strong; driven by mission, united by purpose, and inspired by opportunities. SAIC is an Equal Opportunity Employer, fostering a culture of diversity, equity and inclusion, which is core to our values and important to attract and retain exceptional talent. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.4 billion. For more information, visit saic.com . For ongoing news, please visit our newsroom .
Forward-Looking Statements
Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at
saic.com
or on the SEC’s website at
sec.gov
. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.
Media Contact:
Kelly Golden
717.919.7975 |
[email protected]