Shell Asset Management Co. Reduces Holdings in Science Applications International Co. (NYSE:SAIC)

Shell Asset Management Co. cut its position in Science Applications International Co. (NYSE:SAICFree Report) by 31.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,883 shares of the information technology services provider’s stock after selling 3,101 shares during the quarter. Shell Asset Management Co.’s holdings in Science Applications International were worth $726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Science Applications International by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 507,536 shares of the information technology services provider’s stock worth $53,565,000 after acquiring an additional 10,793 shares during the period. Spire Wealth Management raised its stake in shares of Science Applications International by 56.4% during the third quarter. Spire Wealth Management now owns 7,922 shares of the information technology services provider’s stock valued at $836,000 after purchasing an additional 2,857 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in Science Applications International in the third quarter worth about $71,000. Amalgamated Bank grew its position in Science Applications International by 14.1% in the 3rd quarter. Amalgamated Bank now owns 40,261 shares of the information technology services provider’s stock valued at $4,249,000 after buying an additional 4,967 shares in the last quarter. Finally, Qsemble Capital Management LP increased its stake in Science Applications International by 178.3% during the 3rd quarter. Qsemble Capital Management LP now owns 6,400 shares of the information technology services provider’s stock valued at $675,000 after buying an additional 4,100 shares during the period. 75.31% of the stock is owned by institutional investors and hedge funds.

Science Applications International Stock Performance

Shares of NYSE SAIC opened at $131.52 on Friday. The stock’s fifty day simple moving average is $127.47 and its 200 day simple moving average is $118.48. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 13.92 and a beta of 0.71. The company has a quick ratio of 1.08, a current ratio of 1.13 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 $136.05.

Science Applications International (NYSE:SAICGet Free Report) last issued its quarterly earnings results on Monday, December 4th. The information technology services provider reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.58. Science Applications International had a return on equity of 26.14% and a net margin of 6.67%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the business posted $1.90 EPS. Science Applications International’s revenue was down .7% on a year-over-year basis. As a group, sell-side analysts forecast that Science Applications International Co. will post 7.88 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 12th were given a $0.37 dividend. The ex-dividend date was Thursday, January 11th. This represents a $1.48 annualized dividend and a dividend yield of 1.13%. Science Applications International’s dividend payout ratio (DPR) is presently 15.66%.

Insider Buying and Selling

In other news, insider Robert S. Genter sold 7,024 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $125.00, for a total value of $878,000.00. Following the completion of the sale, the insider now owns 48,204 shares of the company’s stock, valued at $6,025,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Robert S. Genter sold 7,024 shares of the company’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $125.00, for a total value of $878,000.00. Following the transaction, the insider now owns 48,204 shares in the company, valued at approximately $6,025,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michelle A. O’hara sold 4,000 shares of the stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $127.45, for a total transaction of $509,800.00. Following the completion of the sale, the executive vice president now directly owns 26,238 shares of the company’s stock, valued at $3,344,033.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,233 shares of company stock valued at $1,539,058. Company insiders own 1.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SAIC has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Science Applications International from $116.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 5th. StockNews.com downgraded Science Applications International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 5th. JPMorgan Chase & Co. cut Science Applications International from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $130.00 to $142.00 in a research report on Tuesday, December 5th. Finally, Truist Financial upped their price objective on Science Applications International from $115.00 to $130.00 and gave the company a “hold” rating in a report on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $125.33.

Check Out Our Latest Stock Analysis on SAIC

About Science Applications International

(Free Report)

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.

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

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