Fmr LLC Lowers Stock Holdings in Science Applications International Co. (NYSE:SAIC)

Fmr LLC lessened its stake in shares of Science Applications International Co. (NYSE:SAIC) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,230,617 shares of the information technology services provider’s stock after selling 166,759 shares during the period. Fmr LLC owned approximately 4.50% of Science Applications International worth $310,658,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in shares of Science Applications International by 30.4% in the second quarter. Fifth Third Bancorp now owns 360 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 84 shares during the last quarter. Cetera Investment Advisers increased its stake in Science Applications International by 0.5% during the 2nd quarter. Cetera Investment Advisers now owns 19,060 shares of the information technology services provider’s stock valued at $2,240,000 after purchasing an additional 87 shares in the last quarter. Bank of Montreal Can raised its holdings in Science Applications International by 1.2% in the second quarter. Bank of Montreal Can now owns 7,425 shares of the information technology services provider’s stock worth $878,000 after buying an additional 90 shares during the last quarter. CWM LLC lifted its stake in shares of Science Applications International by 56.8% in the second quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock worth $48,000 after buying an additional 147 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Science Applications International by 1.1% during the second quarter. Arizona State Retirement System now owns 14,460 shares of the information technology services provider’s stock valued at $1,700,000 after buying an additional 152 shares during the last quarter. Institutional investors own 76.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SAIC shares. Wells Fargo & Company upgraded shares of Science Applications International from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $157.00 to $147.00 in a report on Tuesday, November 26th. Citigroup increased their price objective on Science Applications International from $160.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Truist Financial lifted their price objective on Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Friday, September 6th. JPMorgan Chase & Co. upgraded shares of Science Applications International from a “neutral” rating to an “overweight” rating and upped their target price for the company from $150.00 to $170.00 in a research note on Wednesday, October 2nd. Finally, TD Cowen lifted their price target on shares of Science Applications International from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Science Applications International currently has a consensus rating of “Moderate Buy” and an average target price of $149.00.

Science Applications International Price Performance

NYSE SAIC opened at $124.25 on Friday. The company has a 50-day moving average price of $139.60 and a 200-day moving average price of $129.95. Science Applications International Co. has a 52 week low of $112.00 and a 52 week high of $156.34. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $6.15 billion, a P/E ratio of 22.35 and a beta of 0.70.

Science Applications International (NYSE:SAIC) last issued its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.19. Science Applications International had a net margin of 3.97% and a return on equity of 22.88%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that Science Applications International Co. will post 8.21 earnings per share for the current year.

Science Applications International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a dividend of $0.37 per share. The ex-dividend date was Friday, October 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.19%. Science Applications International’s payout ratio is currently 26.62%.

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 IT modernization; digital engineering; artificial intelligence; Weapon systems support design, build, modify, integrate, and sustain weapon systems; 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 training and simulation and ground vehicles support which integrates, modify, upgrades, and sustains ground vehicles for nation's armed forces.