Allspring Global Investments Holdings LLC Sells 7,859 Shares of Science Applications International Co. (NYSE:SAIC)

Allspring Global Investments Holdings LLC reduced its position in Science Applications International Co. (NYSE:SAIC) by 47.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,825 shares of the information technology services provider’s stock after selling 7,859 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Science Applications International were worth $1,097,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. National Bank of Canada FI acquired a new position in shares of Science Applications International during the 3rd quarter valued at $890,000. GHP Investment Advisors Inc. lifted its position in shares of Science Applications International by 11.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 13,554 shares of the information technology services provider’s stock valued at $1,546,000 after acquiring an additional 1,432 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of Science Applications International by 80.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 6,180 shares of the information technology services provider’s stock valued at $652,000 after acquiring an additional 2,764 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in shares of Science Applications International during the 3rd quarter valued at $5,256,000. Finally, Xponance Inc. lifted its position in shares of Science Applications International by 11.9% during the 3rd quarter. Xponance Inc. now owns 7,420 shares of the information technology services provider’s stock valued at $783,000 after acquiring an additional 788 shares during the period. 76.00% of the stock is owned by institutional investors.

Science Applications International Stock Performance

Shares of SAIC stock opened at $128.08 on Wednesday. The firm has a 50-day moving average of $132.92 and a 200-day moving average of $125.28. The company has a market cap of $6.62 billion, a P/E ratio of 14.47 and a beta of 0.70. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.98 and a quick ratio of 0.97. Science Applications International Co. has a one year low of $95.43 and a one year high of $145.17.

Science Applications International (NYSE:SAIC) last announced its earnings results on Monday, March 18th. The information technology services provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.01). The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Science Applications International had a net margin of 6.41% and a return on equity of 23.73%. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.04 EPS. Equities research analysts forecast that Science Applications International Co. will post 8.11 EPS for the current fiscal year.

Science Applications International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.48 annualized dividend and a yield of 1.16%. Science Applications International’s payout ratio is currently 16.72%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Science Applications International from a “hold” rating to a “buy” rating in a report on Wednesday, April 17th. The Goldman Sachs Group lowered their price objective on shares of Science Applications International from $113.00 to $110.00 and set a “sell” rating on the stock in a report on Thursday, February 29th. JPMorgan Chase & Co. lowered their price objective on shares of Science Applications International from $142.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, March 19th. Truist Financial restated a “hold” rating and set a $130.00 price objective on shares of Science Applications International in a report on Friday, April 12th. Finally, Wells Fargo & Company upped their price objective on shares of Science Applications International from $141.00 to $143.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $127.60.

Insider Activity at Science Applications International

In related news, CEO Toni Townes-Whitley purchased 3,000 shares of Science Applications International stock in a transaction that occurred on Friday, April 12th. The stock was bought at an average price of $125.96 per share, for a total transaction of $377,880.00. Following the completion of the transaction, the chief executive officer now owns 46,795 shares in the company, valued at $5,894,298.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Science Applications International news, CEO Toni Townes-Whitley bought 3,000 shares of the business’s stock in a transaction on Friday, April 12th. The stock was purchased at an average price of $125.96 per share, for a total transaction of $377,880.00. Following the completion of the transaction, the chief executive officer now directly owns 46,795 shares of the company’s stock, valued at $5,894,298.20. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Katharina G. Mcfarland sold 760 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $125.64, for a total transaction of $95,486.40. Following the transaction, the director now owns 8,653 shares of the company’s stock, valued at approximately $1,087,162.92. The disclosure for this sale can be found here. 1.29% of the stock is owned by company 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.