Bank of New York Mellon Corp Has $56.43 Million Stock Holdings in Science Applications International Co. (NYSE:SAIC)

Bank of New York Mellon Corp trimmed its position in Science Applications International Co. (NYSE:SAIC - Free Report) by 4.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 502,589 shares of the information technology services provider's stock after selling 20,737 shares during the period. Bank of New York Mellon Corp owned 1.05% of Science Applications International worth $56,426,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. boosted its stake in Science Applications International by 27.0% in 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 period. First Trust Advisors LP boosted its stake in Science Applications International by 0.3% in the fourth quarter. First Trust Advisors LP now owns 1,218,137 shares of the information technology services provider's stock valued at $136,163,000 after acquiring an additional 3,078 shares during the period. Norges Bank acquired a new position in Science Applications International in the fourth quarter valued at approximately $63,572,000. LSV Asset Management boosted its stake in Science Applications International by 3.2% in the fourth quarter. LSV Asset Management now owns 494,156 shares of the information technology services provider's stock valued at $55,237,000 after acquiring an additional 15,447 shares during the period. Finally, Northern Trust Corp boosted its stake in Science Applications International by 12.9% in the fourth quarter. Northern Trust Corp now owns 458,560 shares of the information technology services provider's stock valued at $51,258,000 after acquiring an additional 52,422 shares during the period. 76.00% of the stock is currently owned by institutional investors and hedge funds.

Science Applications International Price Performance

SAIC traded down $3.12 during trading on Friday, reaching $113.21. The stock had a trading volume of 771,376 shares, compared to its average volume of 552,827. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 19.09 and a beta of 0.49. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20. Science Applications International Co. has a 1-year low of $94.68 and a 1-year high of $156.34. The stock has a 50 day moving average of $113.06 and a two-hundred day moving average of $111.41.

Science Applications International (NYSE:SAIC - Get Free Report) last released 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 return on equity of 24.18% and a net margin of 4.11%. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $1.92 earnings per share. As a group, equities analysts anticipate that Science Applications International Co. will post 8.27 EPS for the current fiscal year.

Science Applications International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be issued a $0.37 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.48 annualized dividend and a dividend yield of 1.31%. Science Applications International's dividend payout ratio is currently 20.76%.

Insider Activity

In related news, Director Garth Graham purchased 215 shares of the company's stock in a transaction on Monday, April 14th. The shares were bought at an average price of $116.75 per share, with a total value of $25,101.25. Following the completion of the acquisition, the director owned 7,159 shares of the company's stock, valued at approximately $835,813.25. This represents a 3.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.44% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on SAIC shares. JPMorgan Chase & Co. decreased their target price on Science Applications International from $148.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Truist Financial cut their price target on Science Applications International from $115.00 to $100.00 and set a "hold" rating on the stock in a report on Tuesday, June 3rd. Jefferies Financial Group boosted their price objective on Science Applications International from $120.00 to $130.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. Wells Fargo & Company boosted their price objective on Science Applications International from $132.00 to $137.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Finally, UBS Group reduced their price objective 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Science Applications International has a consensus rating of "Hold" and an average target price of $124.73.

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.