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 position in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 129.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,435 shares of the information technology services provider's stock after buying an additional 52,232 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.19% of Science Applications International worth $10,378,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Ontario Teachers Pension Plan Board bought a new stake in shares of Science Applications International in the 1st quarter worth approximately $1,414,000. Wealthspire Advisors LLC raised its holdings in shares of Science Applications International by 6.7% in the 1st quarter. Wealthspire Advisors LLC now owns 1,946 shares of the information technology services provider's stock worth $218,000 after purchasing an additional 122 shares during the period. Connable Office Inc. bought a new stake in shares of Science Applications International in the 1st quarter worth approximately $219,000. Bank of Nova Scotia raised its holdings in shares of Science Applications International by 22.2% in 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 during the period. Finally, LSV Asset Management raised its holdings in shares of Science Applications International by 8.3% in the 1st quarter. LSV Asset Management now owns 535,295 shares of the information technology services provider's stock worth $60,098,000 after purchasing an additional 41,139 shares during the period. Institutional investors own 76.00% of the company's stock.

Science Applications International Stock Up 0.4%

SAIC opened at $116.66 on Monday. The company has a fifty day moving average price of $110.64 and a 200-day moving average price of $111.28. The firm has a market capitalization of $5.47 billion, a P/E ratio of 19.67 and a beta of 0.49. 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 Co. has a one year low of $94.68 and a one year 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 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 business's revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 EPS. Equities research analysts expect that Science Applications International Co. will post 8.27 earnings per share for the current fiscal 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, July 11th. Science Applications International's payout ratio is currently 20.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SAIC shares. Truist Financial lifted their price target 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. JPMorgan Chase & Co. lowered 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 report on Tuesday, April 15th. Stifel Nicolaus initiated coverage on shares of Science Applications International in a research note on Tuesday, June 24th. They issued a "buy" rating and a $130.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Science Applications International from $132.00 to $137.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Finally, Jefferies Financial Group lifted their price objective on shares of Science Applications International from $120.00 to $130.00 and gave the company a "hold" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, six have given 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, the company 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.

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