Assetmark Inc. Has $128,000 Stock Holdings in Science Applications International Co. (NYSE:SAIC)

Assetmark Inc. cut its holdings in Science Applications International Co. (NYSE:SAIC - Free Report) by 99.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,141 shares of the information technology services provider's stock after selling 224,592 shares during the quarter. Assetmark Inc.'s holdings in Science Applications International were worth $128,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SAIC. Cetera Investment Advisers raised its stake in Science Applications International by 4.2% during the 1st quarter. Cetera Investment Advisers now owns 18,157 shares of the information technology services provider's stock valued at $2,039,000 after acquiring an additional 731 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of Science Applications International in the first quarter valued at $442,000. KLP Kapitalforvaltning AS grew its stake in Science Applications International by 19.8% in the first quarter. KLP Kapitalforvaltning AS now owns 15,150 shares of the information technology services provider's stock valued at $1,701,000 after purchasing an additional 2,500 shares in the last quarter. Choreo LLC bought a new stake in Science Applications International in the first quarter worth $232,000. Finally, Allianz Asset Management GmbH lifted its holdings in Science Applications International by 76.4% in the 1st quarter. Allianz Asset Management GmbH now owns 41,683 shares of the information technology services provider's stock worth $4,680,000 after purchasing an additional 18,055 shares during the last quarter. 76.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Science Applications International from $132.00 to $137.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. UBS Group reduced their price target on Science Applications International from $121.00 to $111.00 and set a "neutral" rating for the company in a research report on Tuesday, June 3rd. Stifel Nicolaus assumed coverage on Science Applications International in a research report on Tuesday, June 24th. They set a "buy" rating and a $130.00 price target on the stock. Jefferies Financial Group upped their price objective on Science Applications International from $120.00 to $130.00 and gave the company a "hold" rating in a research note on Thursday, May 15th. Finally, Truist Financial increased their price target on shares of Science Applications International from $100.00 to $110.00 and gave the company a "hold" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $125.64.

Science Applications International Stock Performance

Shares of SAIC stock traded up $0.48 during trading on Thursday, reaching $115.62. The company had a trading volume of 152,901 shares, compared to its average volume of 676,757. Science Applications International Co. has a one year low of $94.68 and a one year high of $156.34. The firm's 50 day simple moving average is $110.58 and its two-hundred day simple moving average is $111.33. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $5.42 billion, a PE ratio of 19.49 and a beta of 0.49.

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

Science Applications International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a $0.37 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.48 annualized dividend and a yield of 1.3%. Science Applications International's payout ratio is presently 20.76%.

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.