California Public Employees Retirement System Lowers Position in Science Applications International Co. (NYSE:SAIC)

California Public Employees Retirement System reduced its stake in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 247,111 shares of the information technology services provider's stock after selling 3,411 shares during the quarter. California Public Employees Retirement System owned approximately 0.51% of Science Applications International worth $27,622,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SAIC. Norges Bank purchased a new stake in Science Applications International in the fourth quarter worth about $63,572,000. Victory Capital Management Inc. lifted its stake in shares of Science Applications International by 851.8% in the 4th quarter. Victory Capital Management Inc. now owns 148,588 shares of the information technology services provider's stock valued at $16,609,000 after purchasing an additional 132,976 shares during the period. Prudential Financial Inc. boosted its position in shares of Science Applications International by 285.5% during the fourth quarter. Prudential Financial Inc. now owns 138,987 shares of the information technology services provider's stock valued at $17,012,000 after purchasing an additional 102,933 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Science Applications International during the 4th quarter valued at $10,038,000. Finally, Van ECK Associates Corp grew its holdings in Science Applications International by 30.4% in 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 during the period. Institutional investors own 76.00% of the company's stock.

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Insider Activity at Science Applications International

In other news, Director Milford W. Mcguirt bought 500 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were bought at an average price of $110.58 per share, for a total transaction of $55,290.00. Following the purchase, the director now owns 6,841 shares in the company, valued at approximately $756,477.78. The trade was a 7.89 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katharina G. Mcfarland sold 3,239 shares of Science Applications International stock in a transaction on Monday, January 13th. The shares were sold at an average price of $117.70, for a total transaction of $381,230.30. Following the transaction, the director now owns 6,864 shares in the company, valued at approximately $807,892.80. This trade represents a 32.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 2,815 shares of company stock worth $314,652. 0.67% of the stock is owned by company insiders.

Analysts Set New Price Targets

SAIC has been the subject of a number of analyst reports. StockNews.com raised Science Applications International from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, December 18th. TD Cowen lowered Science Applications International from a "buy" rating to a "hold" rating and lowered their price target for the stock from $155.00 to $120.00 in a research report on Wednesday, January 8th. UBS Group increased their price objective on shares of Science Applications International from $123.00 to $126.00 and gave the company a "neutral" rating in a research report on Tuesday, March 18th. The Goldman Sachs Group reduced their price objective on shares of Science Applications International from $124.00 to $103.00 and set a "sell" rating for the company in a research note on Thursday, December 12th. Finally, Truist Financial dropped their target price on shares of Science Applications International from $135.00 to $115.00 and set a "hold" rating on the stock in a research note on Tuesday, March 18th. One investment 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $134.00.

Science Applications International Stock Performance

SAIC stock traded up $2.00 on Tuesday, hitting $111.08. The company had a trading volume of 140,281 shares, compared to its average volume of 470,483. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20. Science Applications International Co. has a 12-month low of $94.68 and a 12-month high of $156.34. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 18.72 and a beta of 0.58. The stock's 50-day simple moving average is $106.18 and its 200 day simple moving average is $120.61.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the business posted $1.43 EPS. The company's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities research analysts expect that Science Applications International Co. will post 8.27 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The firm also recently disclosed 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, April 11th. Science Applications International's payout ratio is 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.