Connor Clark & Lunn Investment Management Ltd. Purchases 52,232 Shares of Science Applications International Co. (NYSE:SAIC)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its shareholding in Science Applications International Co. (SAIC) by 52,232 shares, bringing their total to 92,435 shares, valued at approximately $10.38 million.
• Science Applications International reported a 0.4% increase in stock price and has a market capitalization of $5.47 billion, with a P/E ratio of 19.67.
• The firm announced a quarterly dividend of $0.37 per share, reflecting a 1.3% dividend yield and a payout ratio of 20.76% as of the latest financial quarter.

Connor Clark & Lunn Investment Management Ltd. grew its stake in Science Applications International Co. (NYSE:SAIC - Free Report) by 129.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,435 shares of the information technology services provider's stock after purchasing an additional 52,232 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.19% of Science Applications International worth $10,378,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp increased its stake in shares of Science Applications International by 22.7% in the first quarter. Fifth Third Bancorp now owns 475 shares of the information technology services provider's stock valued at $53,000 after purchasing an additional 88 shares during the period. US Bancorp DE boosted its holdings in shares of Science Applications International by 38.5% in the first quarter. US Bancorp DE now owns 324 shares of the information technology services provider's stock valued at $36,000 after acquiring an additional 90 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Science Applications International by 43.2% in the first quarter. Larson Financial Group LLC now owns 325 shares of the information technology services provider's stock valued at $36,000 after acquiring an additional 98 shares in the last quarter. Mariner LLC boosted its holdings in shares of Science Applications International by 2.8% in the fourth quarter. Mariner LLC now owns 3,875 shares of the information technology services provider's stock valued at $433,000 after acquiring an additional 106 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its holdings in 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 worth $218,000 after buying an additional 122 shares in the last quarter. Institutional investors and hedge funds own 76.00% of the company's stock.

Science Applications International Stock Down 0.3%

Shares of Science Applications International stock traded down $0.31 during midday trading on Friday, reaching $117.00. 63,650 shares of the company's stock traded hands, compared to its average volume of 662,923. Science Applications International Co. has a 52 week low of $94.68 and a 52 week high of $156.34. The company's 50 day simple moving average is $111.89 and its 200 day simple moving average is $111.48. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 19.73 and a beta of 0.49.

Science Applications International (NYSE:SAIC - Get Free Report) last posted 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%. During the same quarter last year, the business earned $1.92 earnings per share. The business's revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts expect that Science Applications International Co. will post 8.27 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently weighed in on SAIC shares. Truist Financial raised their target price on shares of Science Applications International from $100.00 to $110.00 and gave the stock a "hold" rating in a report on Thursday, July 24th. 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 report on Monday, June 9th. Stifel Nicolaus started coverage on shares of Science Applications International in a report on Tuesday, June 24th. They set a "buy" rating and a $130.00 target price for the company. Jefferies Financial Group raised their target price on shares of Science Applications International from $120.00 to $130.00 and gave the stock a "hold" rating in a report on Thursday, May 15th. Finally, UBS Group reduced their price target 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $125.64.

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.