Retirement Systems of Alabama Reduces Stock Holdings in Science Applications International Co. (NYSE:SAIC)

Retirement Systems of Alabama cut its holdings in Science Applications International Co. (NYSE:SAIC) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,298 shares of the information technology services provider’s stock after selling 733 shares during the period. Retirement Systems of Alabama’s holdings in Science Applications International were worth $8,242,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. acquired a new stake in Science Applications International during the 4th quarter valued at $25,000. CVA Family Office LLC purchased a new stake in Science Applications International during the 4th quarter worth about $26,000. Gradient Investments LLC lifted its holdings in Science Applications International by 1,104.8% in the 3rd quarter. Gradient Investments LLC now owns 253 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 232 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Science Applications International by 92.4% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 433 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 208 shares during the last quarter. Finally, Community Bank N.A. purchased a new stake in shares of Science Applications International during the fourth quarter worth about $66,000. 76.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Science Applications International news, Director Katharina G. Mcfarland sold 760 shares of the business’s 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 in the company, valued at $1,087,162.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Vincent P. Difronzo purchased 795 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was acquired at an average cost of $126.04 per share, with a total value of $100,201.80. Following the acquisition, the executive vice president now owns 8,772 shares in the company, valued at $1,105,622.88. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Katharina G. Mcfarland sold 760 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $125.64, for a total transaction of $95,486.40. Following the completion of the transaction, the director now owns 8,653 shares in the company, valued at approximately $1,087,162.92. The disclosure for this sale can be found here. Insiders own 1.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SAIC. StockNews.com raised shares of Science Applications International from a “hold” rating to a “buy” rating in a research note on Wednesday, April 17th. 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. JPMorgan Chase & Co. lowered their price objective on Science Applications International from $142.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, March 19th. The Goldman Sachs Group reduced their target price on Science Applications International from $113.00 to $110.00 and set a “sell” rating on the stock in a research report on Thursday, February 29th. Finally, Wells Fargo & Company lifted their price target on Science Applications International from $141.00 to $143.00 and gave the company 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $127.60.

Science Applications International Price Performance

Shares of Science Applications International stock opened at $131.55 on Friday. The business’s fifty day moving average price is $132.08 and its 200 day moving average price is $125.91. Science Applications International Co. has a twelve month low of $95.43 and a twelve month high of $145.17. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $6.74 billion, a P/E ratio of 14.86 and a beta of 0.70.

Science Applications International (NYSE:SAIC) last released its quarterly earnings data on Monday, March 18th. The information technology services provider reported $1.43 earnings per share 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 analyst estimates 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 period in the prior year, the firm earned $2.04 earnings per share. As a group, research analysts anticipate that Science Applications International Co. will post 8.11 earnings per share for the current year.

Science Applications International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Thursday, April 11th. Science Applications International’s payout ratio is currently 16.72%.

About Science Applications International

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.