Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Position in Science Applications International Co. (NYSE:SAIC)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 21.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,984 shares of the information technology services provider's stock after selling 2,420 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Science Applications International were worth $1,004,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc boosted its holdings in shares of Science Applications International by 56.9% in the 3rd quarter. Atria Investments Inc now owns 3,009 shares of the information technology services provider's stock worth $419,000 after purchasing an additional 1,091 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Science Applications International in the 3rd quarter worth about $430,000. KBC Group NV boosted its holdings in shares of Science Applications International by 15.3% in the 3rd quarter. KBC Group NV now owns 1,474 shares of the information technology services provider's stock worth $205,000 after purchasing an additional 196 shares in the last quarter. CIBC Asset Management Inc purchased a new position in shares of Science Applications International in the 3rd quarter worth about $220,000. Finally, Empowered Funds LLC boosted its holdings in shares of Science Applications International by 11.6% in the 3rd quarter. Empowered Funds LLC now owns 4,675 shares of the information technology services provider's stock worth $651,000 after purchasing an additional 487 shares in the last quarter. 76.00% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Science Applications International

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SAIC shares. JPMorgan Chase & Co. cut their price objective on Science Applications International from $170.00 to $148.00 and set an "overweight" rating for the company in a report on Friday, December 6th. Truist Financial cut 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. The Goldman Sachs Group cut their price objective on Science Applications International from $124.00 to $103.00 and set a "sell" rating for the company in a report on Thursday, December 12th. StockNews.com upgraded Science Applications International from a "buy" rating to a "strong-buy" rating in a report on Wednesday, December 18th. Finally, Cantor Fitzgerald upgraded Science Applications International to a "hold" rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Science Applications International currently has a consensus rating of "Hold" and an average price target of $134.00.

Science Applications International Trading Down 0.1 %

SAIC stock traded down $0.08 during trading on Friday, hitting $105.90. 1,180,355 shares of the company traded hands, compared to its average volume of 432,636. The firm has a market capitalization of $5.18 billion, a PE ratio of 17.86 and a beta of 0.66. Science Applications International Co. has a 1 year low of $94.68 and a 1 year high of $156.34. The company has a 50-day moving average of $107.01 and a 200-day moving average of $122.46. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87.

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 EPS for the quarter, beating analysts' consensus estimates of $2.00 by $0.57. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. Science Applications International had a return on equity of 24.18% and a net margin of 4.11%. Science Applications International's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 EPS. Analysts predict that Science Applications International Co. will post 8.27 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, April 11th. Science Applications International's dividend payout ratio is currently 20.58%.

Science Applications International 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.