Envestnet Asset Management Inc. Increases Position in Science Applications International Co. (NYSE:SAIC)

Envestnet Asset Management Inc. raised its position in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 10.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,004 shares of the information technology services provider's stock after purchasing an additional 3,222 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of Science Applications International worth $3,913,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC purchased a new position in shares of Science Applications International during the 4th quarter valued at about $28,000. Jones Financial Companies Lllp grew its position in Science Applications International by 32.3% during the fourth quarter. Jones Financial Companies Lllp now owns 639 shares of the information technology services provider's stock valued at $71,000 after acquiring an additional 156 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Science Applications International by 33.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the information technology services provider's stock worth $75,000 after acquiring an additional 167 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Science Applications International in the 3rd quarter worth approximately $200,000. Finally, Catalyst Funds Management Pty Ltd boosted its stake in shares of Science Applications International by 200.0% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 1,800 shares of the information technology services provider's stock valued at $201,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors own 76.00% of the company's stock.

Insiders Place Their Bets

In other Science Applications International news, Director Garth Graham acquired 215 shares of Science Applications International stock in a transaction that occurred on Monday, April 14th. The stock was bought at an average cost of $116.75 per share, for a total transaction of $25,101.25. Following the acquisition, the director now owns 7,159 shares of the company's stock, valued at $835,813.25. This represents a 3.10 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Milford W. Mcguirt bought 500 shares of the stock in a transaction on Thursday, March 27th. The shares were bought at an average price of $110.58 per share, for a total transaction of $55,290.00. Following the purchase, the director now directly owns 6,841 shares in the company, valued at approximately $756,477.78. This trade represents a 7.89 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 3,260 shares of company stock worth $365,037. 0.67% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SAIC has been the topic of a number of analyst reports. Truist Financial decreased their target price on shares of Science Applications International from $135.00 to $115.00 and set a "hold" rating on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company lowered their target price on Science Applications International from $148.00 to $132.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. TD Cowen lowered Science Applications International from a "buy" rating to a "hold" rating and reduced their price target for the stock from $155.00 to $120.00 in a research report on Wednesday, January 8th. Cantor Fitzgerald upgraded Science Applications International to a "hold" rating in a research report on Tuesday, February 25th. Finally, UBS Group raised their target price on shares of Science Applications International from $123.00 to $126.00 and gave the stock a "neutral" rating in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $131.33.

Science Applications International Price Performance

Shares of Science Applications International stock opened at $119.83 on Thursday. The company has a market cap of $5.72 billion, a PE ratio of 20.21 and a beta of 0.58. The business has a 50 day moving average of $108.84 and a 200 day moving average of $118.65. Science Applications International Co. has a 52 week low of $94.68 and a 52 week high of $156.34. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20.

Science Applications International (NYSE:SAIC - Get Free Report) last issued its quarterly earnings data on Monday, March 17th. The information technology services provider reported $2.57 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.81 billion. During the same period in the prior year, the business earned $1.43 EPS. The company's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities research analysts forecast that Science Applications International Co. will post 8.27 earnings per share for the current year.

Science Applications International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a $0.37 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.48 annualized dividend and a yield of 1.24%. Science Applications International's payout ratio is 20.58%.

Science Applications International Profile

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.

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