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

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. reduced its stake in Science Applications International Co. (NYSE:SAIC - Free Report) by 32.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Science Applications International by 9.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160 shares of the information technology services provider's stock worth $355,000 after acquiring an additional 271 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in Science Applications International during the first quarter worth about $204,000. SG Americas Securities LLC grew its position in Science Applications International by 19.4% in the 1st quarter. SG Americas Securities LLC now owns 4,508 shares of the information technology services provider's stock worth $506,000 after purchasing an additional 732 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Science Applications International by 96.8% during the first quarter. GAMMA Investing LLC now owns 614 shares of the information technology services provider's stock valued at $69,000 after acquiring an additional 302 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Science Applications International during the fourth quarter worth $1,414,000. Institutional investors and hedge funds own 76.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SAIC. Barclays reduced their target price 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. Stifel Nicolaus assumed coverage on Science Applications International in a research note on Tuesday, June 24th. They set a "buy" rating and a $130.00 price objective for the company. Truist Financial raised their price objective on shares of Science Applications International from $100.00 to $110.00 and gave the company a "hold" rating in a research report on Thursday. Jefferies Financial Group lifted their target price 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. Finally, Wells Fargo & Company raised their price target on shares of Science Applications International from $132.00 to $137.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $125.64.

Science Applications International Stock Down 0.2%

NYSE:SAIC traded down $0.18 during mid-day trading on Friday, hitting $114.81. 313,062 shares of the company's stock were exchanged, compared to its average volume of 698,033. The business has a fifty day moving average price of $111.69 and a 200 day moving average price of $111.51. The company has a market cap of $5.38 billion, a PE ratio of 19.36 and a beta of 0.49. Science Applications International Co. has a one year low of $94.68 and a one year high of $156.34. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.87 and a quick ratio of 0.87.

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%. Science Applications International's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.92 earnings per share. Equities analysts predict that Science Applications International Co. will post 8.27 EPS for the current year.

Science Applications International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, July 11th. This represents a $1.48 annualized dividend and a dividend yield of 1.29%. Science Applications International's 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.