Sit Investment Associates Inc. Cuts Stake in Science Applications International Co. (NYSE:SAIC)

Sit Investment Associates Inc. decreased its position in Science Applications International Co. (NYSE:SAIC) by 43.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,775 shares of the information technology services provider’s stock after selling 12,360 shares during the period. Sit Investment Associates Inc.’s holdings in Science Applications International were worth $1,774,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of Science Applications International by 32.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 3,416 shares of the information technology services provider’s stock worth $384,000 after purchasing an additional 841 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Science Applications International by 2.4% during the second quarter. Janney Montgomery Scott LLC now owns 8,638 shares of the information technology services provider’s stock worth $972,000 after buying an additional 199 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Science Applications International by 9.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 19,089 shares of the information technology services provider’s stock valued at $2,147,000 after buying an additional 1,616 shares in the last quarter. Silver Oak Securities Incorporated acquired a new stake in shares of Science Applications International during the 1st quarter valued at approximately $250,000. Finally, Alaska Permanent Fund Corp purchased a new stake in shares of Science Applications International during the 2nd quarter worth approximately $740,000. 75.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SAIC has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on Science Applications International from $114.00 to $116.00 in a research note on Friday, September 8th. Stifel Nicolaus reaffirmed a “hold” rating and set a $115.00 price target on shares of Science Applications International in a research note on Monday, October 2nd. Finally, StockNews.com started coverage on shares of Science Applications International in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Science Applications International currently has a consensus rating of “Hold” and a consensus price target of $113.43.

Insider Buying and Selling

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

Science Applications International Stock Down 0.6 %

SAIC opened at $115.49 on Thursday. The business’s fifty day simple moving average is $109.70 and its 200 day simple moving average is $110.21. Science Applications International Co. has a 52 week low of $95.43 and a 52 week high of $123.53. The firm has a market cap of $6.11 billion, a P/E 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 (NYSE:SAIC) last announced its quarterly earnings data on Thursday, September 7th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.43. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.69 billion. Science Applications International had a net margin of 6.49% and a return on equity of 25.76%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.75 earnings per share. As a group, equities research analysts anticipate that Science Applications International Co. will post 7.37 EPS for the current fiscal year.

Science Applications International Announces Dividend

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

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.