Science Applications International Co. (NYSE:SAIC) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 21.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 250,589 shares of the information technology services provider's stock after acquiring an additional 44,990 shares during the period. Van ECK Associates Corp owned 0.51% of Science Applications International worth $36,070,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Science Applications International by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,108,748 shares of the information technology services provider's stock worth $130,333,000 after buying an additional 56,414 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Science Applications International by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 557,299 shares of the information technology services provider's stock worth $65,511,000 after buying an additional 25,807 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Science Applications International by 8.1% in the 2nd quarter. American Century Companies Inc. now owns 378,765 shares of the information technology services provider's stock worth $44,524,000 after purchasing an additional 28,304 shares during the period. AQR Capital Management LLC raised its holdings in shares of Science Applications International by 9.7% in the 2nd quarter. AQR Capital Management LLC now owns 313,802 shares of the information technology services provider's stock worth $36,887,000 after purchasing an additional 27,664 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Science Applications International by 36,732.4% in the 3rd quarter. International Assets Investment Management LLC now owns 245,672 shares of the information technology services provider's stock worth $34,215,000 after purchasing an additional 245,005 shares during the period. Institutional investors and hedge funds own 76.00% of the company's stock.

Wall Street Analyst Weigh In

SAIC has been the topic of a number of research reports. Citigroup raised their price objective on Science Applications International from $160.00 to $176.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Wells Fargo & Company raised their price objective on Science Applications International from $122.00 to $157.00 and gave the stock an "equal weight" rating in a report on Friday, October 11th. Truist Financial raised their price objective on Science Applications International from $125.00 to $135.00 and gave the stock a "hold" rating in a report on Friday, September 6th. TD Cowen raised their target price on Science Applications International from $145.00 to $155.00 and gave the company a "buy" rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. upgraded Science Applications International from a "neutral" rating to an "overweight" rating and raised their target price for the company from $150.00 to $170.00 in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $150.43.

Science Applications International Stock Up 1.9 %

SAIC stock traded up $2.76 during midday trading on Tuesday, hitting $148.90. 167,516 shares of the company's stock were exchanged, compared to its average volume of 293,673. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. Science Applications International Co. has a 12-month low of $109.46 and a 12-month high of $148.94. The firm has a 50 day moving average price of $139.87 and a 200-day moving average price of $129.80. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of 26.78 and a beta of 0.70.

Science Applications International (NYSE:SAIC - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.19. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the business earned $2.05 EPS. Science Applications International's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts anticipate that Science Applications International Co. will post 8.2 EPS for the current year.

Science Applications International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, October 11th. This represents a $1.48 annualized dividend and a yield of 0.99%. Science Applications International's dividend payout ratio is presently 26.62%.

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.