Strs Ohio Reduces Stock Holdings in Science Applications International Co. (NYSE:SAIC)

Strs Ohio reduced its stake in Science Applications International Co. (NYSE:SAIC) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,820 shares of the information technology services provider’s stock after selling 5,522 shares during the period. Strs Ohio owned 0.27% of Science Applications International worth $17,258,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Science Applications International in the fourth quarter valued at approximately $60,582,000. Wellington Management Group LLP boosted its holdings in shares of Science Applications International by 9.4% in the first quarter. Wellington Management Group LLP now owns 5,699,458 shares of the information technology services provider’s stock valued at $525,321,000 after acquiring an additional 491,167 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Science Applications International by 2,399.5% in the first quarter. Envestnet Asset Management Inc. now owns 418,074 shares of the information technology services provider’s stock valued at $1,857,000 after acquiring an additional 401,348 shares during the period. FMR LLC boosted its holdings in shares of Science Applications International by 13.2% in the third quarter. FMR LLC now owns 2,823,285 shares of the information technology services provider’s stock valued at $297,969,000 after acquiring an additional 328,426 shares during the period. Finally, Assetmark Inc. acquired a new stake in shares of Science Applications International during the third quarter worth $19,562,000. 76.00% of the stock is currently owned by hedge funds and other institutional investors.

Science Applications International Price Performance

Science Applications International stock opened at $124.04 on Wednesday. Science Applications International Co. has a one year low of $95.43 and a one year high of $145.17. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.97 and a current ratio of 0.98. The business has a fifty day moving average of $133.43 and a two-hundred day moving average of $124.61. The company has a market cap of $6.41 billion, a P/E ratio of 15.36 and a beta of 0.70.

Science Applications International (NYSE:SAIC) last released its earnings results on Monday, March 18th. The information technology services provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.01). Science Applications International had a net margin of 6.41% and a return on equity of 23.73%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the business posted $2.04 EPS. Science Applications International’s revenue was down 11.7% compared to the same quarter last year. As a group, analysts predict that Science Applications International Co. will post 8.11 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, April 11th. Science Applications International’s dividend payout ratio is currently 16.72%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, CEO Toni Townes-Whitley purchased 3,000 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was acquired 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 in the company, valued at approximately $5,894,298.20. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Toni Townes-Whitley acquired 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 46,795 shares in the company, valued at approximately $5,894,298.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vincent P. Difronzo acquired 795 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were bought at an average price of $126.04 per share, with a total value of $100,201.80. Following the transaction, the executive vice president now owns 8,772 shares in the company, valued at approximately $1,105,622.88. The disclosure for this purchase can be found here. Company insiders own 1.29% of the company’s stock.

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.