SAIC secured a $1.8 billion contract to enhance DoD personnel readiness and operational capabilities over five years.
Quiver AI Summary
Science Applications International Corp. (SAIC) has secured a prime position on the $1.8 billion Personnel and Readiness Infrastructure Support Management (PRISM) Multiple Award Task Order Contract to enhance the Department of Defense's (DoD) critical services. The contract spans one base year and four option years, allowing for improved service delivery through Streamline Task Order Ordering Procedures (STOOP), which promise reduced acquisition lead times and greater process flexibility. SAIC aims to strengthen the operational capabilities of the Office of the Under Secretary of Defense for Personnel and Readiness by utilizing advanced data integration and analytics to enhance readiness and decision-making. With a commitment to innovative and cost-effective services, SAIC will contribute to national security by optimizing the defense personnel framework. The company is a Fortune 500 technology integrator with a diverse portfolio focused on mission-critical operations across various sectors.
Potential Positives
- SAIC has been awarded a prime position on a $1.8 billion contract, enhancing its status and potential revenue sources significantly.
- The contract focuses on providing critical services to the Department of Defense, positioning SAIC as a key player in national security and defense readiness.
- SAIC's commitment to innovative and cost-effective services aims to streamline operations and improve decision-making processes for the DoD, showcasing its technological capabilities.
- This award aligns with SAIC's mission to integrate advanced technology and data analytics, strengthening its portfolio and influence in the defense sector.
Potential Negatives
- The press release includes extensive forward-looking statements, which indicate reliance on uncertainty and risk, potentially leading to skepticism about the company's future performance.
- The contract is awarded for a limited timeframe of only one base year with four option years, which may raise concerns regarding long-term stability and revenue predictability.
- There is a heavy emphasis on the need for increased flexibility and reduced acquisition lead time, suggesting past procedures may have been inefficient, potentially reflecting negatively on the company's previous performance or contracts.
FAQ
What is the PRISM Multiple Award Task Order Contract?
The PRISM MATOC is a $1.8 billion contract to support the Department of Defense with critical services efficiently.
How long is the duration of the PRISM contract awarded to SAIC?
The contract includes a base year and four option years for a total potential duration of five years.
What services will SAIC provide under the PRISM contract?
SAIC will provide innovative, cost-effective services focused on data integration, analytics, and mission support to enhance DoD readiness.
How does the PRISM contract improve acquisition processes?
The contract utilizes Streamline Task Order Ordering Procedures to reduce acquisition lead time and increase overall flexibility.
What is SAIC's commitment to national security?
SAIC aims to enhance national security by optimizing readiness and streamlining operations within the Department of Defense.
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 172 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. 16, 2024 (GLOBE NEWSWIRE) -- Science Applications International Corp. (NASDAQ:
SAIC
) has been awarded a prime position on the $1.8 billion Personnel and Readiness Infrastructure Support Management (PRISM) Multiple Award Task Order Contract ("MATOC") vehicle to support the Department of Defense (DoD) and its need to obtain critical services in a shorter time frame. The contract award is for one base year and four option years.
The PRISM contract provides the Office of the Undersecretary of Defense for Personnel and Readiness (OUSD P&R) and strategic partners with innovative and cost-effective services through the use of Streamline Task Order Ordering Procedures ("STOOP"). These procedures result in a significant reduction in acquisition lead time and increased flexibility for the entire acquisition process.
"Under the PRISM MATOC, SAIC aims to enhance the operational capabilities of the Office of the Under Secretary of Defense for Personnel & Readiness (OUSD P&R) and its Directorates," said Josh Jackson, executive vice president and manager, Army Business Group. "We steadfastly commit to providing innovative and cost-effective services as well as leveraging expertise in technology integration, data analytics, and mission support to empower OUSD P&R to streamline operations, optimize readiness, and ensure a resilient and agile defense personnel framework."
Under the contract, SAIC is committed to bolstering Department of Defense (DoD) readiness through advanced data integration and instantaneous analytics. This initiative will refine operational workflows, elevate strategic decision-making, and cultivate a well-informed, proactive defense community. By doing so, SAIC will directly contribute to the reinforcement of national security, delivering it with heightened proficiency and impact.
To learn more, visit
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 Contacts:
Gregory Hicks
619.961.0075 |
Gregory.L.Hicks@saic.com
