Retirement Systems of Alabama Decreases Holdings in Science Applications International Co. (NYSE:SAIC)

Retirement Systems of Alabama reduced its stake in Science Applications International Co. (NYSE:SAIC) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,233 shares of the information technology services provider’s stock after selling 1,048 shares during the period. Retirement Systems of Alabama’s holdings in Science Applications International were worth $8,667,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SAIC. UMB Bank n.a. lifted its position in shares of Science Applications International by 438.5% during the third quarter. UMB Bank n.a. now owns 210 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 171 shares in the last quarter. Larson Financial Group LLC acquired a new position in Science Applications International in the 2nd quarter worth $27,000. GAMMA Investing LLC boosted its position in Science Applications International by 236.0% in the 3rd quarter. GAMMA Investing LLC now owns 289 shares of the information technology services provider’s stock valued at $40,000 after buying an additional 203 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Science Applications International by 30.4% during the second quarter. Fifth Third Bancorp now owns 360 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 84 shares in the last quarter. Finally, CWM LLC increased its position in shares of Science Applications International by 56.8% during the second quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 147 shares during the last quarter. 76.00% of the stock is owned by hedge funds and other institutional investors.

Science Applications International Stock Performance

Science Applications International stock opened at $114.38 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.87 and a quick ratio of 0.87. Science Applications International Co. has a 12 month low of $111.34 and a 12 month high of $156.34. The company has a fifty day moving average price of $134.11 and a two-hundred day moving average price of $128.34. The company has a market cap of $5.59 billion, a PE ratio of 19.29 and a beta of 0.64.

Science Applications International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, January 10th. Science Applications International’s dividend payout ratio is presently 24.96%.

Analysts Set New Price Targets

SAIC has been the subject of a number of analyst reports. Truist Financial increased their price target on Science Applications International from $125.00 to $135.00 and gave the company a “hold” rating in a report on Friday, September 6th. UBS Group initiated coverage on shares of Science Applications International in a research report on Monday, December 2nd. They set a “neutral” rating and a $134.00 price target for the company. The Goldman Sachs Group dropped their price target on shares of Science Applications International from $124.00 to $103.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. JPMorgan Chase & Co. reduced their price objective on shares of Science Applications International from $170.00 to $148.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Finally, TD Cowen boosted their target price on shares of Science Applications International from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.38.

Insider Activity at Science Applications International

In related news, EVP Barbara Supplee bought 425 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was bought at an average cost of $116.36 per share, for a total transaction of $49,453.00. Following the completion of the purchase, the executive vice president now directly owns 3,579 shares in the company, valued at approximately $416,452.44. The trade was a 13.47 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.67% of the company’s stock.

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 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.