SAIC (SAI): S&P Intraday Gainer

NEW YORK ( TheStreet) -- Technical services company SAIC ( SAI) was the best-performing stock in the S&P 500 Wednesday morning.

The S&P was down 0.97 points, or 0.07%, to 1,404.55.

Shares of SAIC rose 6.31% to $13.98. It declared a quarterly dividend of 12 cents a share on Tuesday and its board authorized a buyback program of 40 million shares.

SAIC reported a fourth-quarter loss Tuesday of $161 million, or 49 cents a share, a reversal from year-earlier earnings of $127 million, or 35 cents.

On an adjusted basis, excluding a charge for CityTime, earnings from continuing operations were 31 cents a share, down from 34 cents a year earlier. The company set aside $308 million to cover its settlement of New York's CityTime payroll system scandal.

Analysts were expecting earnings of 27 cents a share.

The stock was raised to sector perform from underperform by analysts at RBC. The analysts' price target is $14.

SAIC has an estimated price-to-earnings ratio for next year of 10.24 times; the average for computer services companies is 24.11. For comparison, both Equinix ( EQIX) and VeriSign ( VRSN) have higher forward P/Es of 39.68 and 16.99, respectively.

Thirteen of the 16 analysts who cover SAIC rated it hold. Two analysts gave the stock a buy rating and one rated it sell.

TheStreet Ratings gives SAIC a C grade and a hold rating. The stock has risen 13.75% year to date.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

-- Written by Alexandra Zendrian

>To contact the writer of this article, click here: Alexandra Zendrian

>To submit a news tip, send an email to: tips@thestreet.com.

>To follow the writer on Twitter, go to Alexandra Zendrian.

The Associated Press contributed to this report.

More from Investing

12 Stocks That Make Up the GLUM Index

12 Stocks That Make Up the GLUM Index

REPLAY: Jim Cramer on Tariff Worries, Oil, Alphabet and Centene

REPLAY: Jim Cramer on Tariff Worries, Oil, Alphabet and Centene

Worth a Stunning $6.6 Trillion, Tech Stocks Have Taken Over the Market

Worth a Stunning $6.6 Trillion, Tech Stocks Have Taken Over the Market

Video: Athens Stock Exchange CEO on What's Next for Greece's Debt Woes

Video: Athens Stock Exchange CEO on What's Next for Greece's Debt Woes

Here's Why Snap Shares Climbed Monday

Here's Why Snap Shares Climbed Monday