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Boston Partners Trims Position in Science Applications International Co. (NYSE:SAIC)

Science Applications International logo with Computer and Technology background

Key Points

  • Boston Partners reduced its position in Science Applications International Co. by 9.8%, selling 225,338 shares and now holding approximately 2,077,529 shares valued at $233 million.
  • Multiple institutional investors such as Parallel Advisors LLC, Larson Financial Group LLC, and US Bancorp DE increased their holdings in Science Applications International during the first quarter, showcasing a generally positive institutional interest.
  • Analysts have set a range of new price targets for the stock, with Barclays lowering theirs to $105 while Wells Fargo increased their target to $137, reflecting varied market sentiment.
  • Looking to export and analyze Science Applications International data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Boston Partners decreased its position in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 9.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,077,529 shares of the information technology services provider's stock after selling 225,338 shares during the period. Boston Partners owned 4.35% of Science Applications International worth $233,299,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Parallel Advisors LLC increased its position in Science Applications International by 112.1% during the first quarter. Parallel Advisors LLC now owns 280 shares of the information technology services provider's stock worth $31,000 after purchasing an additional 148 shares during the last quarter. Larson Financial Group LLC increased its position in Science Applications International by 43.2% during the first quarter. Larson Financial Group LLC now owns 325 shares of the information technology services provider's stock worth $36,000 after purchasing an additional 98 shares during the last quarter. US Bancorp DE increased its position in Science Applications International by 38.5% during the first quarter. US Bancorp DE now owns 324 shares of the information technology services provider's stock worth $36,000 after purchasing an additional 90 shares during the last quarter. True Wealth Design LLC acquired a new position in Science Applications International during the fourth quarter worth approximately $48,000. Finally, 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 purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 76.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays dropped their price target on shares of Science Applications International from $115.00 to $105.00 and set an "equal weight" rating for the company in a research report on Monday, June 9th. Jefferies Financial Group upped their price target on shares of Science Applications International from $120.00 to $130.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. Truist Financial upped their price target on shares of Science Applications International from $100.00 to $110.00 and gave the stock a "hold" rating in a research report on Thursday, July 24th. Wells Fargo & Company increased their price objective on shares of 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 dropped their price objective on shares of 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 issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $125.64.

View Our Latest Analysis on SAIC

Science Applications International Price Performance

Science Applications International stock opened at $120.60 on Thursday. The firm has a market capitalization of $5.65 billion, a P/E ratio of 20.34 and a beta of 0.49. The firm has a fifty day moving average of $111.60 and a 200-day moving average of $111.43. 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 52-week low of $94.68 and a 52-week high of $156.34.

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 the consensus estimate of $2.17 by ($0.25). Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.92 earnings per share. As a group, analysts predict that Science Applications International Co. will post 8.27 EPS for the current year.

Science Applications International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders 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 dividend yield of 1.2%. Science Applications International's dividend payout ratio is 20.76%.

About Science Applications International

(Free Report)

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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Institutional Ownership by Quarter for Science Applications International (NYSE:SAIC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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