Science Applications International Co. (NYSE:SAIC) Shares Sold by Burney Co.

Key Points

• Burney Co. has reduced its stake in Science Applications International Co. (SAIC) by 32.7%, selling 5,129 shares and now holding 10,538 shares worth approximately $1.18 million.
• Analysts have mixed ratings for SAIC, with price targets ranging from $105.00 to $137.00, and a consensus rating of "Hold" as of now.
• Science Applications International reported earnings of $1.92 per share, missing the consensus estimate of $2.17, with quarterly revenue up 1.6% year-over-year.

Burney Co. lowered its stake in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 32.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 10,538 shares of the information technology services provider's stock after selling 5,129 shares during the period. Burney Co.'s holdings in Science Applications International were worth $1,183,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Fifth Third Bancorp raised its stake in shares of Science Applications International by 22.7% during the 1st quarter. Fifth Third Bancorp now owns 475 shares of the information technology services provider's stock valued at $53,000 after buying an additional 88 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Science Applications International by 43.2% in the 1st quarter. Larson Financial Group LLC now owns 325 shares of the information technology services provider's stock valued at $36,000 after purchasing an additional 98 shares in the last quarter. Mariner LLC increased its stake in shares of Science Applications International by 2.8% in the 4th quarter. Mariner LLC now owns 3,875 shares of the information technology services provider's stock valued at $433,000 after purchasing an additional 106 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Science Applications International by 2.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 7,029 shares of the information technology services provider's stock valued at $786,000 after purchasing an additional 142 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake 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 purchasing an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 76.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Truist Financial lifted their price target on Science Applications International from $100.00 to $110.00 and gave the company a "hold" rating in a research note on Thursday. Stifel Nicolaus assumed coverage on Science Applications International in a research note on Tuesday, June 24th. They issued a "buy" rating and a $130.00 price target for the company. Wells Fargo & Company lifted their price target on Science Applications International from $132.00 to $137.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. UBS Group cut 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, JPMorgan Chase & Co. cut their price objective 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $125.64.

Science Applications International Price Performance

Shares of Science Applications International stock traded down $1.72 on Monday, hitting $113.09. 75,476 shares of the company were exchanged, compared to its average volume of 693,564. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 19.05 and a beta of 0.49. The company has a 50-day moving average price of $111.69 and a 200 day moving average price of $111.48. Science Applications International Co. has a 1-year low of $94.68 and a 1-year high of $156.34. 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 (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 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%. The company's revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $1.92 EPS. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Friday, July 11th. Science Applications International's dividend 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.