Allegiance Financial Group Advisory Services LLC Invests $428,000 in Science Applications International Co. $SAIC

Key Points

• Allegiance Financial Group has invested $428,000 in Science Applications International Co. (SAIC), acquiring 3,804 shares during the second quarter.
• Science Applications International reported an earnings per share (EPS) of $3.63 for the latest quarter, significantly above analysts' estimates of $2.25, although revenue fell short of expectations at $1.77 billion.
• The company has announced a quarterly dividend of $0.37 per share, with an annualized yield of 1.5%, which will be paid on October 24th, 2023.

Allegiance Financial Group Advisory Services LLC acquired a new position in Science Applications International Co. (NYSE:SAIC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,804 shares of the information technology services provider's stock, valued at approximately $428,000.

Several other institutional investors have also recently made changes to their positions in SAIC. Merit Financial Group LLC lifted its stake in shares of Science Applications International by 108.5% in the 1st quarter. Merit Financial Group LLC now owns 4,555 shares of the information technology services provider's stock worth $511,000 after purchasing an additional 2,370 shares during the period. UMB Bank n.a. lifted its stake in shares of Science Applications International by 220.1% in the 1st quarter. UMB Bank n.a. now owns 557 shares of the information technology services provider's stock worth $63,000 after purchasing an additional 383 shares during the period. Pallas Capital Advisors LLC bought a new position in shares of Science Applications International in the 1st quarter worth approximately $546,000. GAMMA Investing LLC lifted its stake in shares of Science Applications International by 96.8% in the 1st quarter. GAMMA Investing LLC now owns 614 shares of the information technology services provider's stock worth $69,000 after purchasing an additional 302 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Science Applications International by 19.4% in the 1st quarter. SG Americas Securities LLC now owns 4,508 shares of the information technology services provider's stock worth $506,000 after purchasing an additional 732 shares during the period. Institutional investors own 76.00% of the company's stock.

Science Applications International Trading Up 0.1%

Shares of SAIC opened at $101.37 on Thursday. 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 1 year low of $94.68 and a 1 year high of $156.34. The company has a 50 day simple moving average of $109.39 and a two-hundred day simple moving average of $112.30. The firm has a market cap of $4.67 billion, a P/E ratio of 17.09 and a beta of 0.44.

Science Applications International (NYSE:SAIC - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The information technology services provider reported $3.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.25 by $1.38. Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the firm posted $2.05 EPS. The company's revenue was down 2.7% on a year-over-year basis. Science Applications International has set its FY 2026 guidance at 9.400-9.600 EPS. On average, equities analysts expect that Science Applications International Co. will post 8.27 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, October 10th. Science Applications International's dividend payout ratio (DPR) is 17.92%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Science Applications International from $130.00 to $115.00 and set a "hold" rating on the stock in a research note on Wednesday, September 10th. Truist Financial raised their target price on shares of Science Applications International from $100.00 to $110.00 and gave the stock a "hold" rating in a research note on Thursday, July 24th. The Goldman Sachs Group decreased their target price on shares of Science Applications International from $104.00 to $91.00 and set a "sell" rating on the stock in a research note on Monday, September 8th. UBS Group decreased their target price on shares of Science Applications International from $111.00 to $110.00 and set a "neutral" rating on the stock in a research note on Friday, September 5th. Finally, Stifel Nicolaus decreased their target price on shares of Science Applications International from $130.00 to $128.00 and set a "buy" rating on the stock in a research note on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $120.64.

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.

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