Burney Co. Boosts Holdings in Science Applications International Co. (NYSE:SAIC)

Burney Co. increased its stake in shares of Science Applications International Co. (NYSE:SAIC) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,571 shares of the information technology services provider’s stock after purchasing an additional 420 shares during the period. Burney Co.’s holdings in Science Applications International were worth $2,089,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SAIC. Norges Bank acquired a new position in shares of Science Applications International during the fourth quarter valued at approximately $60,582,000. Wellington Management Group LLP lifted its holdings in Science Applications International by 9.4% in the 1st 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 in the last quarter. Envestnet Asset Management Inc. boosted its stake in Science Applications International by 2,399.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 418,074 shares of the information technology services provider’s stock worth $1,857,000 after purchasing an additional 401,348 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Science Applications International during the second quarter worth $35,919,000. Finally, Boston Partners raised its position in shares of Science Applications International by 4.6% in 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 buying an additional 171,810 shares during the last quarter. 75.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SAIC has been the topic of a number of recent research reports. Stifel Nicolaus reissued a “hold” rating and set a $115.00 price objective on shares of Science Applications International in a research note on Monday, October 2nd. Wells Fargo & Company upped their price objective on shares of Science Applications International from $114.00 to $116.00 in a report on Friday, September 8th. Finally, StockNews.com initiated coverage on shares of Science Applications International in a research note on Thursday, October 5th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $113.43.

Insiders Place Their Bets

In other Science Applications International news, EVP Michelle A. O’hara sold 2,004 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $113.87, for a total value of $228,195.48. Following the transaction, the executive vice president now directly owns 30,238 shares in the company, valued at $3,443,201.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Science Applications International news, EVP Michelle A. O’hara sold 2,004 shares of the company’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $113.87, for a total value of $228,195.48. Following the completion of the transaction, the executive vice president now owns 30,238 shares in the company, valued at $3,443,201.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert S. Genter sold 1,500 shares of Science Applications International stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $106.30, for a total value of $159,450.00. Following the sale, the insider now owns 55,605 shares in the company, valued at approximately $5,910,811.50. The disclosure for this sale can be found here. Insiders sold 7,061 shares of company stock valued at $778,169 in the last ninety days. Insiders own 1.29% of the company’s stock.

Science Applications International Price Performance

Science Applications International stock opened at $115.49 on Thursday. The company’s 50 day moving average is $109.70 and its two-hundred day moving average is $110.21. The firm has a market cap of $6.11 billion, a PE ratio of 12.64 and a beta of 0.71. The company has a quick ratio of 1.08, a current ratio of 1.14 and a debt-to-equity ratio of 1.20. Science Applications International Co. has a 52-week low of $95.43 and a 52-week high of $123.53.

Science Applications International (NYSE:SAIC) last issued its quarterly earnings results on Thursday, September 7th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.43. Science Applications International had a net margin of 6.49% and a return on equity of 25.76%. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the firm earned $1.75 earnings per share. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. On average, research analysts expect that Science Applications International Co. will post 7.37 EPS for the current fiscal year.

Science Applications International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 13th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, October 12th. Science Applications International’s dividend payout ratio is presently 16.19%.

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 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.