CCM Investment Group LLC Invests $545,000 in Science Applications International Co. (NYSE:SAIC)

Key Points

• CCM Investment Group LLC has acquired a new stake in Science Applications International Co. (NYSE:SAIC), purchasing 4,841 shares valued at approximately $545,000.
• Science Applications International has received mixed ratings from analysts, with a consensus rating of "Hold" and a price target averaging $125.64.
• The company reported a missed EPS estimate of $1.92 for the recent quarter, falling short of the consensus estimate of $2.17.

CCM Investment Group LLC bought a new stake in shares of Science Applications International Co. (NYSE:SAIC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,841 shares of the information technology services provider's stock, valued at approximately $545,000.

A number of other institutional investors have also recently modified their holdings of the business. Parallel Advisors LLC boosted its holdings in shares of Science Applications International by 112.1% during the 1st 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. US Bancorp DE boosted its holdings in shares of Science Applications International by 38.5% during 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 last quarter. Larson Financial Group LLC boosted its holdings in shares of 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 worth $36,000 after purchasing an additional 98 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of Science Applications International during the 4th quarter worth approximately $48,000. Finally, Fifth Third Bancorp boosted its holdings 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 worth $53,000 after purchasing an additional 88 shares during the last quarter. 76.00% of the stock is currently owned by institutional investors and hedge funds.

Science Applications International Trading Up 1.2%

NYSE SAIC traded up $1.36 on Tuesday, reaching $117.23. The stock had a trading volume of 309,084 shares, compared to its average volume of 670,582. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 19.77 and a beta of 0.49. 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 12-month low of $94.68 and a 12-month high of $156.34. The stock has a fifty day moving average price of $111.23 and a two-hundred day moving average price of $111.37.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.92 earnings per share. As a group, sell-side analysts forecast that Science Applications International Co. will post 8.27 EPS for the current fiscal year.

Science Applications International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.3%. Science Applications International's dividend payout ratio is currently 20.76%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SAIC shares. UBS Group lowered their target price on Science Applications International from $121.00 to $111.00 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. Barclays reduced their price target on shares of 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. Truist Financial lifted their price target 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, July 24th. Wells Fargo & Company lifted their price target on shares of Science Applications International from $132.00 to $137.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Science Applications International from $148.00 to $140.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. One 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $125.64.

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.