Bank of Nova Scotia Trims Stock Position in Science Applications International Co. (NYSE:SAIC)

Bank of Nova Scotia lowered its stake in shares of Science Applications International Co. (NYSE:SAICGet Rating) by 2.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 8,336 shares of the information technology services provider’s stock after selling 237 shares during the period. Bank of Nova Scotia’s holdings in Science Applications International were worth $776,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. M&T Bank Corp raised its stake in shares of Science Applications International by 15.3% during the 2nd quarter. M&T Bank Corp now owns 10,314 shares of the information technology services provider’s stock valued at $954,000 after buying an additional 1,365 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its stake in shares of Science Applications International by 0.4% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 400,467 shares of the information technology services provider’s stock valued at $37,283,000 after purchasing an additional 1,761 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Science Applications International by 70.9% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 34,910 shares of the information technology services provider’s stock valued at $3,250,000 after purchasing an additional 14,483 shares in the last quarter. Seizert Capital Partners LLC increased its stake in shares of Science Applications International by 28.0% in the 2nd quarter. Seizert Capital Partners LLC now owns 43,478 shares of the information technology services provider’s stock valued at $4,048,000 after purchasing an additional 9,510 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Science Applications International by 82.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 17,235 shares of the information technology services provider’s stock valued at $1,605,000 after purchasing an additional 7,799 shares in the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SAIC has been the subject of several recent analyst reports. StockNews.com initiated coverage on Science Applications International in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Jefferies Financial Group lowered Science Applications International from a “buy” rating to a “hold” rating and set a $110.00 price target for the company. in a research note on Thursday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $106.43.

Science Applications International Trading Up 1.4 %

SAIC stock opened at $107.06 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 1.49. Science Applications International Co. has a 12-month low of $78.10 and a 12-month high of $113.03. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 23.43 and a beta of 0.75. The business’s 50-day moving average is $98.42 and its 200 day moving average is $93.32.

Science Applications International (NYSE:SAICGet Rating) last posted its quarterly earnings data on Thursday, September 1st. The information technology services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.07. Science Applications International had a return on equity of 24.18% and a net margin of 3.46%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the firm posted $1.97 EPS. Science Applications International’s revenue was down .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Science Applications International Co. will post 7.11 EPS for the current fiscal year.

Science Applications International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, October 14th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, October 13th. Science Applications International’s dividend payout ratio is currently 32.39%.

Science Applications International Company Profile

(Get Rating)

Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company's offerings include engineering; technology integration; IT modernization; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; 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 cloud migration, managed services, infrastructure modernization, and enterprise IT-as-a-service solutions.

Further Reading

Want to see what other hedge funds are holding SAIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Science Applications International Co. (NYSE:SAICGet Rating).

Institutional Ownership by Quarter for Science Applications International (NYSE:SAIC)

Receive News & Ratings for Science Applications International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Science Applications International and related companies with MarketBeat.com's FREE daily email newsletter.