Cerity Partners LLC Increases Stake in Science Applications International Co. (NYSE:SAIC)

Cerity Partners LLC grew its position in Science Applications International Co. (NYSE:SAIC - Free Report) by 436.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,397 shares of the information technology services provider's stock after acquiring an additional 6,831 shares during the quarter. Cerity Partners LLC's holdings in Science Applications International were worth $955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Science Applications International during the fourth quarter valued at $63,572,000. Victory Capital Management Inc. raised its position in shares of Science Applications International by 851.8% during the 4th quarter. Victory Capital Management Inc. now owns 148,588 shares of the information technology services provider's stock valued at $16,609,000 after buying an additional 132,976 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Science Applications International by 285.5% in the 4th quarter. Prudential Financial Inc. now owns 138,987 shares of the information technology services provider's stock valued at $17,012,000 after acquiring an additional 102,933 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Science Applications International in the fourth quarter worth about $10,038,000. Finally, Van ECK Associates Corp increased its stake in Science Applications International by 30.4% during the fourth quarter. Van ECK Associates Corp now owns 326,793 shares of the information technology services provider's stock worth $36,529,000 after acquiring an additional 76,204 shares during the last quarter. 76.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SAIC shares. JPMorgan Chase & Co. cut their target price on Science Applications International from $148.00 to $140.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Truist Financial dropped their target price on Science Applications International from $135.00 to $115.00 and set a "hold" rating for the company in a research report on Tuesday, March 18th. Cantor Fitzgerald upgraded Science Applications International to a "hold" rating in a report on Tuesday, February 25th. TD Cowen cut Science Applications International from a "buy" rating to a "hold" rating and dropped their price objective for the company from $155.00 to $120.00 in a report on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their target price on Science Applications International from $148.00 to $132.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $131.33.

Insider Activity

In related news, Director John K. Tien, Jr. purchased 215 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was acquired at an average price of $116.50 per share, with a total value of $25,047.50. Following the completion of the acquisition, the director now owns 919 shares in the company, valued at approximately $107,063.50. This represents a 30.54 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Milford W. Mcguirt bought 500 shares of Science Applications International stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average price of $110.58 per share, with a total value of $55,290.00. Following the purchase, the director now directly owns 6,841 shares in the company, valued at $756,477.78. The trade was a 7.89 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 3,260 shares of company stock worth $365,037. Insiders own 0.67% of the company's stock.

Science Applications International Stock Up 1.5 %

Shares of NYSE:SAIC traded up $1.85 on Thursday, reaching $121.68. The company had a trading volume of 80,448 shares, compared to its average volume of 487,505. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $5.81 billion, a PE ratio of 20.47 and a beta of 0.58. Science Applications International Co. has a 52-week low of $94.68 and a 52-week high of $156.34. The firm's 50 day simple moving average is $108.84 and its 200-day simple moving average is $118.65.

Science Applications International (NYSE:SAIC - Get Free Report) last announced its earnings results on Monday, March 17th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.00 by $0.57. Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the company posted $1.43 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. As a group, analysts expect that Science Applications International Co. will post 8.27 earnings per share for the current fiscal year.

Science Applications International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.22%. The ex-dividend date is Friday, April 11th. Science Applications International's dividend payout ratio is currently 20.58%.

About Science Applications International

Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company's offerings include IT modernization; digital engineering; artificial intelligence; Weapon systems support design, build, modify, integrate, and sustain weapon systems; and end-to-end services, such as design, development, integration, deployment, management and operations, sustainment, and security of its customers' IT infrastructure, as well as training and simulation and ground vehicles support which integrates, modify, upgrades, and sustains ground vehicles for nation's armed forces.