Canada Pension Plan Investment Board Raises Stock Position in Science Applications International Co. $SAIC

Key Points

• The Canada Pension Plan Investment Board increased its stake in Science Applications International Co. by 163.5%, bringing its total holdings to approximately $10.2 million.
• Analysts have set a consensus price target of $125.64 for the company's stock, with ratings ranging from "Buy" to "Hold" from various firms.
• Science Applications International recently announced a quarterly dividend of $0.37 per share, translating to an annual yield of 1.3%.

Canada Pension Plan Investment Board raised its holdings in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 163.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,900 shares of the information technology services provider's stock after acquiring an additional 56,400 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.19% of Science Applications International worth $10,205,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp grew its position in shares of 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 in the last quarter. US Bancorp DE boosted its stake in Science Applications International by 38.5% in the 1st 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 period. Larson Financial Group LLC grew its holdings in Science Applications International by 43.2% during the 1st quarter. Larson Financial Group LLC now owns 325 shares of the information technology services provider's stock valued at $36,000 after buying an additional 98 shares in the last quarter. Wealthspire Advisors LLC raised its position in shares of Science Applications International by 6.7% during the first quarter. Wealthspire Advisors LLC now owns 1,946 shares of the information technology services provider's stock valued at $218,000 after buying an additional 122 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Science Applications International by 112.1% in the first quarter. Parallel Advisors LLC now owns 280 shares of the information technology services provider's stock worth $31,000 after buying an additional 148 shares in the last quarter. Institutional investors own 76.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SAIC shares. Stifel Nicolaus began coverage on shares of Science Applications International in a research note on Tuesday, June 24th. They set a "buy" rating and a $130.00 target price for the company. Wells Fargo & Company increased their price objective on shares of Science Applications International from $132.00 to $137.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Barclays reduced their target price on Science Applications International from $115.00 to $105.00 and set an "equal weight" rating on the stock in a report on Monday, June 9th. UBS Group decreased their target price on Science Applications International from $121.00 to $111.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 3rd. Finally, Truist Financial increased 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, July 24th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. 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 Up 0.5%

Shares of NYSE SAIC opened at $118.27 on Wednesday. The firm's 50-day moving average price is $115.43 and its 200-day moving average price is $112.64. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 19.94 and a beta of 0.49. Science Applications International Co. has a 12-month low of $94.68 and a 12-month high of $156.34.

Science Applications International (NYSE:SAIC - Get Free Report) last released its quarterly earnings results on Monday, June 2nd. The information technology services provider reported $1.92 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 period in the previous year, the business posted $1.92 earnings per share. Science Applications International's revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities research analysts anticipate that Science Applications International Co. will post 8.27 EPS for the current fiscal year.

Science Applications International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.48 annualized dividend and a dividend yield of 1.3%. Science Applications International's payout ratio is currently 20.76%.

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.

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