Principal Financial Group Inc. Sells 52,155 Shares of Science Applications International Co. (NYSE:SAIC)

Principal Financial Group Inc. lessened its position in Science Applications International Co. (NYSE:SAIC - Free Report) by 30.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,567 shares of the information technology services provider's stock after selling 52,155 shares during the quarter. Principal Financial Group Inc. owned approximately 0.24% of Science Applications International worth $16,513,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Twin Tree Management LP acquired a new stake in Science Applications International in the 1st quarter valued at approximately $649,000. Farther Finance Advisors LLC grew its stake in Science Applications International by 30,868.8% in the third quarter. Farther Finance Advisors LLC now owns 4,955 shares of the information technology services provider's stock valued at $690,000 after purchasing an additional 4,939 shares in the last quarter. Sei Investments Co. grew its stake in Science Applications International by 53.9% in the first quarter. Sei Investments Co. now owns 86,541 shares of the information technology services provider's stock valued at $11,284,000 after purchasing an additional 30,325 shares in the last quarter. Van ECK Associates Corp grew its stake in Science Applications International by 21.9% in the third quarter. Van ECK Associates Corp now owns 250,589 shares of the information technology services provider's stock valued at $36,070,000 after purchasing an additional 44,990 shares in the last quarter. Finally, Apella Capital LLC bought a new position in Science Applications International in the second quarter valued at approximately $820,000. Institutional investors and hedge funds own 76.00% of the company's stock.

Science Applications International Stock Performance

NYSE:SAIC traded down $3.51 during mid-day trading on Friday, hitting $122.40. 1,548,582 shares of the stock were exchanged, compared to its average volume of 307,070. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 22.01 and a beta of 0.70. The firm's 50-day simple moving average is $142.06 and its 200 day simple moving average is $130.66. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. Science Applications International Co. has a fifty-two week low of $112.00 and a fifty-two week high of $156.34.

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

Science Applications International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.21%. Science Applications International's dividend payout ratio (DPR) is currently 26.62%.

Analyst Ratings Changes

A number of research analysts have weighed in on SAIC shares. TD Cowen raised their price target on Science Applications International from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Friday, September 6th. StockNews.com downgraded Science Applications International from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, October 22nd. Truist Financial lifted their target price on Science Applications International from $125.00 to $135.00 and gave the stock a "hold" rating in a research note on Friday, September 6th. Barclays lifted their target price on Science Applications International from $135.00 to $150.00 and gave the stock an "equal weight" rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company lifted their target price on Science Applications International from $122.00 to $157.00 and gave the stock an "equal weight" rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Science Applications International currently has an average rating of "Hold" and a consensus target price of $150.43.

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.