Panagora Asset Management Inc. Sells 62,561 Shares of Science Applications International Co. (NYSE:SAIC)

Panagora Asset Management Inc. cut its holdings in Science Applications International Co. (NYSE:SAIC) by 50.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,752 shares of the information technology services provider’s stock after selling 62,561 shares during the period. Panagora Asset Management Inc.’s holdings in Science Applications International were worth $6,528,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SAIC. Norges Bank bought a new position in shares of Science Applications International in the fourth quarter valued at approximately $60,582,000. Wellington Management Group LLP grew its holdings in Science Applications International by 9.4% during 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 purchasing an additional 491,167 shares during the period. Envestnet Asset Management Inc. grew its holdings in Science Applications International by 2,399.5% during 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 purchasing an additional 401,348 shares during the period. Boston Partners grew its holdings in Science Applications International by 4.6% during the first quarter. Boston Partners now owns 3,866,900 shares of the information technology services provider’s stock valued at $414,954,000 after purchasing an additional 171,810 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Science Applications International by 3,897.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 100,932 shares of the information technology services provider’s stock valued at $9,303,000 after purchasing an additional 98,407 shares during the period. 75.31% of the stock is owned by institutional investors.

Science Applications International Trading Up 1.2 %

NYSE:SAIC opened at $119.06 on Friday. The company has a market cap of $6.39 billion, a P/E ratio of 20.25 and a beta of 0.74. The stock’s fifty day moving average price is $116.92 and its two-hundred day moving average price is $108.68. Science Applications International Co. has a 1 year low of $87.93 and a 1 year high of $123.53. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.08 and a quick ratio of 1.03.

Science Applications International (NYSE:SAIC) last posted its earnings results on Monday, June 5th. The information technology services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.31. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.96 billion. Science Applications International had a return on equity of 25.68% and a net margin of 4.20%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.88 earnings per share. As a group, analysts expect that Science Applications International Co. will post 7.13 EPS for the current year.

Insider Buying and Selling

In related news, insider Robert S. Genter sold 3,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $107.70, for a total value of $323,100.00. Following the sale, the insider now owns 58,655 shares in the company, valued at $6,317,143.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com assumed coverage on Science Applications International in a report on Thursday, August 17th. They set a “strong-buy” rating for the company. Truist Financial reduced their price objective on Science Applications International from $120.00 to $115.00 in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.29.

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 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; and data management platform solutions.