Bank of New York Mellon Corp Sells 20,737 Shares of Science Applications International Co. (NYSE:SAIC)

Bank of New York Mellon Corp lessened its stake in Science Applications International Co. (NYSE:SAIC - Free Report) by 4.0% in the 1st quarter, according to its most recent filing with the SEC. The fund 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 about 1.05% of Science Applications International worth $56,426,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC increased its holdings in shares of Science Applications International by 112.1% in the 1st quarter. Parallel Advisors LLC now owns 280 shares of the information technology services provider's stock valued at $31,000 after acquiring an additional 148 shares during the last quarter. True Wealth Design LLC purchased a new position in shares of Science Applications International during the fourth quarter worth about $48,000. Fifth Third Bancorp increased its position in Science Applications International by 22.7% during the first quarter. Fifth Third Bancorp now owns 475 shares of the information technology services provider's stock worth $53,000 after buying an additional 88 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Science Applications International during the 4th quarter worth $58,000. Finally, UMB Bank n.a. grew its position in Science Applications International by 220.1% during 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 last quarter. 76.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on SAIC. Truist Financial dropped their target price on Science Applications International from $115.00 to $100.00 and set a "hold" rating on the stock in a research report on Tuesday, June 3rd. Wells Fargo & Company upped 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. Jefferies Financial Group raised their price objective on shares of Science Applications International from $120.00 to $130.00 and gave the company a "hold" rating in a research note on Thursday, May 15th. UBS Group dropped their price objective on Science Applications International from $121.00 to $111.00 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. Finally, Barclays decreased their target price on Science Applications International from $115.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Monday, June 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Science Applications International has an average rating of "Hold" and a consensus price target of $124.73.

Science Applications International Price Performance

Shares of NYSE SAIC traded up $0.36 during mid-day trading on Wednesday, reaching $111.85. 548,185 shares of the company were exchanged, compared to its average volume of 550,486. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $5.24 billion, a PE ratio of 18.86 and a beta of 0.49. The company's 50 day moving average price is $112.78 and its 200 day moving average price is $111.42. Science Applications International Co. has a 52 week low of $94.68 and a 52 week high of $156.34.

Science Applications International (NYSE:SAIC - Get Free Report) last issued its earnings results on Monday, June 2nd. The information technology services provider reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm posted $1.92 earnings per share. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts forecast that Science Applications International Co. will post 8.27 earnings per share for the current fiscal year.

Science Applications International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, July 11th. Science Applications International's dividend payout ratio is 20.76%.

Science Applications International Company 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.