Charles Schwab Investment Management Inc. Sells 4,390 Shares of Science Applications International Co. (NYSE:SAIC)

Key Points

• Charles Schwab Investment Management Inc. decreased its holdings in Science Applications International Co. (SAIC) by 0.9%, now owning 501,731 shares worth $56.3 million after selling 4,390 shares in the first quarter.
• Several institutional investors, including Wells Fargo and Envestnet Asset Management, have increased their positions in SAIC during the fourth quarter, with Wells Fargo boosting its holdings by 5.1%.
• Analysts have varied ratings on SAIC shares, with price targets ranging from $105.00 to $137.00, and the overall average rating is currently "Hold" with a target price of $125.64.

Charles Schwab Investment Management Inc. lowered its holdings in Science Applications International Co. (NYSE:SAIC - Free Report) by 0.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 501,731 shares of the information technology services provider's stock after selling 4,390 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.05% of Science Applications International worth $56,329,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Wealthspire Advisors LLC increased its position in shares of Science Applications International by 6.7% in the first quarter. Wealthspire Advisors LLC now owns 1,946 shares of the information technology services provider's stock worth $218,000 after acquiring an additional 122 shares in the last quarter. Connable Office Inc. acquired a new stake in shares of Science Applications International during the 1st quarter valued at about $219,000. Bank of Nova Scotia increased its position in shares of Science Applications International by 22.2% during the 1st quarter. Bank of Nova Scotia now owns 4,109 shares of the information technology services provider's stock worth $461,000 after purchasing an additional 746 shares in the last quarter. LSV Asset Management grew its position in shares of Science Applications International by 8.3% during the 1st quarter. LSV Asset Management now owns 535,295 shares of the information technology services provider's stock worth $60,098,000 after buying an additional 41,139 shares during the period. Finally, US Bancorp DE boosted its stake in 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 acquiring an additional 90 shares during the last quarter. 76.00% of the stock is owned by institutional investors and hedge funds.

Science Applications International Trading Up 0.3%

Shares of NYSE:SAIC traded up $0.32 during midday trading on Friday, reaching $117.63. The company's stock had a trading volume of 239,049 shares, compared to its average volume of 664,087. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 19.84 and a beta of 0.49. Science Applications International Co. has a fifty-two week low of $94.68 and a fifty-two week high of $156.34. The firm has a 50 day moving average price of $112.14 and a two-hundred day moving average price of $111.61. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87.

Science Applications International (NYSE:SAIC - Get Free Report) last released 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 net margin of 4.11% and a return on equity of 24.18%. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.92 EPS. As a group, analysts forecast that Science Applications International Co. will post 8.27 earnings per share for the current year.

Science Applications International Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group reduced 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. Jefferies Financial Group upped their price target on Science Applications International from $120.00 to $130.00 and gave the stock a "hold" rating in a research note on Thursday, May 15th. Barclays lowered 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. Stifel Nicolaus started coverage on Science Applications International in a report on Tuesday, June 24th. They set a "buy" rating and a $130.00 price target for the company. Finally, Truist Financial lifted their target price on Science Applications International from $100.00 to $110.00 and gave the company a "hold" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Science Applications International currently has an average rating of "Hold" and an average price target of $125.64.

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.