Allspring Global Investments Holdings LLC lifted its stake in Science Applications International Co. (NYSE:SAIC – Get Rating) by 156.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 20,352 shares of the information technology services provider’s stock after acquiring an additional 12,412 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Science Applications International were worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of SAIC. Wipfli Financial Advisors LLC purchased a new stake in shares of Science Applications International in the 3rd quarter worth $41,000. Ronald Blue Trust Inc. purchased a new stake in shares of Science Applications International in the 2nd quarter worth $57,000. Atlas Capital Advisors LLC purchased a new stake in shares of Science Applications International in the 2nd quarter worth $66,000. Lazard Asset Management LLC increased its stake in shares of Science Applications International by 95.2% in the 2nd quarter. Lazard Asset Management LLC now owns 972 shares of the information technology services provider’s stock worth $90,000 after purchasing an additional 474 shares in the last quarter. Finally, USA Financial Portformulas Corp purchased a new stake in shares of Science Applications International in the 3rd quarter worth $129,000. 76.40% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on SAIC. Wells Fargo & Company increased their price target on Science Applications International from $99.00 to $121.00 in a research note on Tuesday, December 6th. StockNews.com upgraded Science Applications International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. The Goldman Sachs Group increased their price target on Science Applications International from $83.00 to $94.00 and gave the stock a “sell” rating in a research note on Tuesday, December 6th. Citigroup began coverage on Science Applications International in a research note on Thursday, December 8th. They issued a “buy” rating and a $141.00 price target for the company. Finally, 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, November 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Science Applications International presently has a consensus rating of “Hold” and an average target price of $114.50.
Science Applications International Stock Down 1.1 %
Science Applications International (NYSE:SAIC – Get Rating) last posted its quarterly earnings data on Monday, December 5th. The information technology services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.16. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Science Applications International had a return on equity of 23.84% and a net margin of 3.58%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company earned $1.85 EPS. Analysts forecast that Science Applications International Co. will post 7.16 earnings per share for the current fiscal year.
Science Applications International Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, January 13th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, January 12th. Science Applications International’s dividend payout ratio (DPR) is 30.83%.
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 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.
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