Proficio Capital Partners LLC Invests $1.65 Million in Science Applications International Co. (NYSE:SAIC)

Proficio Capital Partners LLC purchased a new position in shares of Science Applications International Co. (NYSE:SAIC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 14,755 shares of the information technology services provider's stock, valued at approximately $1,649,000.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp boosted its position in Science Applications International by 1.0% during the third quarter. State Street Corp now owns 1,577,757 shares of the information technology services provider's stock worth $219,734,000 after purchasing an additional 15,166 shares in the last quarter. Geode Capital Management LLC boosted its position in Science Applications International by 1.9% during 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 boosted its position in Science Applications International by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 523,326 shares of the information technology services provider's stock worth $58,497,000 after purchasing an additional 31,374 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Science Applications International by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 518,915 shares of the information technology services provider's stock worth $72,269,000 after purchasing an additional 6,780 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Science Applications International by 30.4% during the fourth quarter. Van ECK Associates Corp now owns 326,793 shares of the information technology services provider's stock worth $36,529,000 after purchasing an additional 76,204 shares in the last quarter. Hedge funds and other institutional investors own 76.00% of the company's stock.

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Science Applications International Price Performance

Shares of NYSE:SAIC traded down $0.08 during midday trading on Friday, hitting $105.90. The company had a trading volume of 1,180,355 shares, compared to its average volume of 432,636. Science Applications International Co. has a twelve month low of $94.68 and a twelve month high of $156.34. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 17.86 and a beta of 0.66. The business's 50-day simple moving average is $107.01 and its 200-day simple moving average is $122.46.

Science Applications International (NYSE:SAIC - Get Free Report) last posted its quarterly earnings results on Monday, March 17th. The information technology services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.00 by $0.57. Science Applications International had a return on equity of 24.18% and a net margin of 4.11%. The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter last year, the firm earned $1.43 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts predict 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. Investors of record on Friday, April 11th will be issued a $0.37 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.48 annualized dividend and a dividend yield of 1.40%. Science Applications International's dividend payout ratio is presently 20.58%.

Analysts Set New Price Targets

SAIC has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on 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 increased their target price on Science Applications International from $139.00 to $148.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. UBS Group increased their target price on Science Applications International from $123.00 to $126.00 and gave the company a "neutral" rating in a report on Tuesday, March 18th. Cantor Fitzgerald raised Science Applications International to a "hold" rating in a report on Tuesday, February 25th. Finally, TD Cowen cut Science Applications International from a "buy" rating to a "hold" rating and reduced their target price for the company from $155.00 to $120.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Science Applications International presently has a consensus rating of "Hold" and a consensus target price of $134.00.

Insiders Place Their Bets

In other Science Applications International news, Director Katharina G. Mcfarland sold 3,239 shares of the firm's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $117.70, for a total transaction of $381,230.30. Following the completion of the sale, the director now owns 6,864 shares of the company's stock, valued at $807,892.80. This trade represents a 32.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.67% of the stock is owned by insiders.

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.