Allspring Global Investments Holdings LLC Increases Stock Position in Science Applications International Co. (NYSE:SAIC)

Allspring Global Investments Holdings LLC increased its position in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 387.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 126,746 shares of the information technology services provider's stock after purchasing an additional 100,760 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.27% of Science Applications International worth $14,362,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SAIC. Norges Bank bought a new position in shares of Science Applications International during the 4th quarter worth approximately $63,572,000. Fuller & Thaler Asset Management Inc. increased its position in shares of Science Applications International by 27.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,186,547 shares of the information technology services provider's stock valued at $244,412,000 after acquiring an additional 464,989 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Science Applications International during the fourth quarter worth $34,909,000. AQR Capital Management LLC lifted its holdings in Science Applications International by 68.4% during the fourth quarter. AQR Capital Management LLC now owns 443,246 shares of the information technology services provider's stock worth $49,413,000 after acquiring an additional 179,963 shares during the period. Finally, Marshall Wace LLP purchased a new position in Science Applications International in the fourth quarter worth $18,694,000. 76.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

SAIC has been the subject of several research analyst reports. Truist Financial decreased their target price on Science Applications International from $115.00 to $100.00 and set a "hold" rating for the company in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Science Applications International from $148.00 to $140.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Barclays dropped their target price on shares of Science Applications International from $115.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Monday, June 9th. Wells Fargo & Company raised their price target on shares of Science Applications International from $132.00 to $137.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Finally, Stifel Nicolaus started coverage on shares of Science Applications International in a report on Tuesday, June 24th. They issued a "buy" rating and a $130.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $124.73.

Insider Buying and Selling

In other news, Director Garth Graham acquired 215 shares of Science Applications International stock in a transaction that occurred on Monday, April 14th. The stock was bought at an average price of $116.75 per share, with a total value of $25,101.25. Following the completion of the purchase, the director owned 7,159 shares in the company, valued at approximately $835,813.25. The trade was a 3.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carolyn B. Handlon purchased 230 shares of the business's stock in a transaction on Monday, April 7th. The stock was purchased at an average cost of $109.93 per share, with a total value of $25,283.90. Following the completion of the acquisition, the director owned 4,032 shares in the company, valued at approximately $443,237.76. This trade represents a 6.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.44% of the stock is currently owned by company insiders.

Science Applications International Stock Up 1.6%

SAIC opened at $117.56 on Thursday. Science Applications International Co. has a 12 month low of $94.68 and a 12 month high of $156.34. The company has a market cap of $5.51 billion, a PE ratio of 19.82 and a beta of 0.49. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20. The company has a 50 day moving average of $113.59 and a 200 day moving average of $111.18.

Science Applications International (NYSE:SAIC - Get Free Report) last posted its quarterly earnings results on Monday, June 2nd. The information technology services provider reported $1.92 EPS for the quarter, missing analysts' consensus estimates of $2.17 by ($0.25). Science Applications International had a return on equity of 24.18% and a net margin of 4.11%. During the same period in the prior year, the business earned $1.92 earnings per share. Science Applications International's revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts expect that Science Applications International Co. will post 8.27 EPS for the current year.

Science Applications International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, July 11th. Science Applications International's payout ratio is 20.76%.

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.

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