568,723 Shares in Science Applications International Co. (NYSE:SAIC) Bought by Norges Bank

Norges Bank acquired a new position in Science Applications International Co. (NYSE:SAIC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 568,723 shares of the information technology services provider's stock, valued at approximately $63,572,000. Norges Bank owned 1.16% of Science Applications International at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of Science Applications International by 1.0% in the 3rd quarter. State Street Corp now owns 1,577,757 shares of the information technology services provider's stock worth $219,734,000 after acquiring an additional 15,166 shares in the last quarter. Geode Capital Management LLC increased its holdings in Science Applications International by 1.9% in the third quarter. Geode Capital Management LLC now owns 985,105 shares of the information technology services provider's stock worth $137,227,000 after purchasing an additional 18,102 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Science Applications International by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 523,326 shares of the information technology services provider's stock valued at $58,497,000 after buying an additional 31,374 shares during the period. Horizon Kinetics Asset Management LLC grew its position in shares of Science Applications International by 0.9% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 406,695 shares of the information technology services provider's stock worth $45,460,000 after buying an additional 3,730 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Science Applications International by 30.4% in the 4th quarter. Van ECK Associates Corp now owns 326,793 shares of the information technology services provider's stock valued at $36,529,000 after acquiring an additional 76,204 shares in the last quarter. 76.00% of the stock is currently owned by institutional investors.

Remove Ads

Insiders Place Their Bets

In related news, CEO Toni Townes-Whitley purchased 2,000 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were bought at an average price of $111.67 per share, with a total value of $223,340.00. Following the acquisition, the chief executive officer now owns 45,183 shares of the company's stock, valued at $5,045,585.61. This trade represents a 4.63 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Milford W. Mcguirt acquired 500 shares of Science Applications International stock in a transaction on Thursday, March 27th. The shares were purchased at an average cost of $110.58 per share, with a total value of $55,290.00. Following the completion of the acquisition, the director now owns 6,841 shares of the company's stock, valued at $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 quarter, insiders have acquired 3,045 shares of company stock valued at $339,935. Insiders own 0.67% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wells Fargo & Company reduced their price target on shares of Science Applications International from $148.00 to $132.00 and set an "overweight" rating for the company in a report on Tuesday. StockNews.com upgraded Science Applications International from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, December 18th. Cantor Fitzgerald upgraded Science Applications International to a "hold" rating in a report on Tuesday, February 25th. Truist Financial decreased their price objective on Science Applications International from $135.00 to $115.00 and set a "hold" rating for the company in a report on Tuesday, March 18th. Finally, UBS Group increased their target price on Science Applications International from $123.00 to $126.00 and gave the stock a "neutral" rating in a report on Tuesday, March 18th. 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. Based on data from MarketBeat, Science Applications International currently has an average rating of "Hold" and an average target price of $132.22.

Science Applications International Stock Down 0.1 %

NYSE:SAIC traded down $0.07 during trading hours on Tuesday, hitting $109.01. 798,034 shares of the company traded hands, compared to its average volume of 474,685. Science Applications International Co. has a one year low of $94.68 and a one year 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. The company has a market cap of $5.20 billion, a PE ratio of 18.38 and a beta of 0.58. The firm's 50-day simple moving average is $106.29 and its 200-day simple moving average is $120.34.

Science Applications International (NYSE:SAIC - Get Free Report) last released its quarterly earnings results on Monday, March 17th. The information technology services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.57. The business had revenue of $1.84 billion for 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 firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.43 earnings per share. Equities analysts predict that Science Applications International Co. will post 8.27 earnings per share for the current year.

Science Applications International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, April 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.36%. Science Applications International's dividend payout ratio (DPR) is currently 20.58%.

Science Applications International Company 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.