FIL Ltd Acquires New Stake in Science Applications International Co. (NYSE:SAIC)

FIL Ltd bought a new position in Science Applications International Co. (NYSE:SAIC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,778 shares of the information technology services provider's stock, valued at approximately $2,658,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Empowered Funds LLC grew its holdings in Science Applications International by 18.7% in the fourth quarter. Empowered Funds LLC now owns 5,549 shares of the information technology services provider's stock valued at $620,000 after purchasing an additional 874 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in Science Applications International in the 4th quarter valued at $312,000. Pure Financial Advisors LLC increased its holdings in Science Applications International by 19.0% in the 4th quarter. Pure Financial Advisors LLC now owns 18,447 shares of the information technology services provider's stock worth $2,062,000 after acquiring an additional 2,946 shares in the last quarter. Geode Capital Management LLC increased its holdings in Science Applications International by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 985,105 shares of the information technology services provider's stock worth $137,227,000 after acquiring an additional 18,102 shares in the last quarter. Finally, Truist Financial Corp raised its position in Science Applications International by 6.4% during the fourth quarter. Truist Financial Corp now owns 3,850 shares of the information technology services provider's stock worth $430,000 after acquiring an additional 233 shares during the period. 76.00% of the stock is owned by institutional investors and hedge funds.

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Science Applications International Trading Down 0.3 %

Shares of NYSE SAIC traded down $0.37 during midday trading on Tuesday, reaching $117.18. 437,904 shares of the stock were exchanged, compared to its average volume of 486,242. Science Applications International Co. has a twelve month low of $94.68 and a twelve month high of $156.34. The stock has a market capitalization of $5.59 billion, a P/E ratio of 19.76 and a beta of 0.58. The company has a 50 day simple moving average of $107.17 and a 200 day simple moving average of $119.53. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87.

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

Science Applications International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Friday, April 11th. Science Applications International's dividend payout ratio is currently 20.58%.

Analysts Set New Price Targets

SAIC has been the subject of a number of research reports. TD Cowen cut shares of Science Applications International from a "buy" rating to a "hold" rating and cut their target price for the stock from $155.00 to $120.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their price objective on Science Applications International from $148.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday. Cantor Fitzgerald upgraded Science Applications International to a "hold" rating in a research report on Tuesday, February 25th. Wells Fargo & Company dropped their price target on Science Applications International from $148.00 to $132.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Truist Financial decreased their price objective on Science Applications International from $135.00 to $115.00 and set a "hold" rating on the stock in a report on Tuesday, March 18th. One equities research 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 a consensus target price of $131.33.

Insider Activity at Science Applications International

In other news, Director Milford W. Mcguirt bought 500 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average price of $110.58 per share, for a total transaction of $55,290.00. Following the completion of the purchase, the director now owns 6,841 shares in the company, valued at approximately $756,477.78. This trade represents a 7.89 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Toni Townes-Whitley acquired 2,000 shares of the stock in a transaction dated Friday, March 28th. The shares were acquired at an average cost of $111.67 per share, with a total value of $223,340.00. Following the completion of the transaction, the chief executive officer now owns 45,183 shares in the company, valued at approximately $5,045,585.61. This represents a 4.63 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 3,260 shares of company stock valued at $365,037 over the last 90 days. 0.67% of the stock is owned by corporate insiders.

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.