Crossmark Global Holdings Inc. Acquires 20,790 Shares of Science Applications International Corporation $SAIC

Key Points

• Crossmark Global Holdings increased its Science Applications International position by 190.2% in the third quarter, acquiring 20,790 shares and bringing its total to 31,721 shares valued at approximately $4.06 million.
• SAIC shares recently traded at $145.73, near their 12-month high, while the company reported quarterly revenue of $1.88 billion and adjusted earnings of $3.01 per share, surpassing analyst expectations.
• The company paid a quarterly dividend of $0.37 per share, equivalent to an annualized $1.48 dividend and a 1.0% yield. Analysts maintain an overall “Hold” rating, with an average price target of $125.22.

Crossmark Global Holdings Inc. raised its position in Science Applications International Corporation (NASDAQ:SAIC - Free Report) by 190.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,721 shares of the company's stock after acquiring an additional 20,790 shares during the period. Crossmark Global Holdings Inc. owned about 0.08% of Science Applications International worth $4,064,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SAIC. Dimensional Fund Advisors LP boosted its position in Science Applications International by 13.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,535,288 shares of the company's stock valued at $145,730,000 after buying an additional 185,066 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Science Applications International during the 2nd quarter worth $44,044,000. Bank of America Corp DE raised its position in shares of Science Applications International by 17.5% during the 1st quarter. Bank of America Corp DE now owns 380,538 shares of the company's stock valued at $36,121,000 after acquiring an additional 56,720 shares during the last quarter. MAC Alpha Capital Management LP lifted its stake in shares of Science Applications International by 43.8% in the 2nd quarter. MAC Alpha Capital Management LP now owns 174,892 shares of the company's stock valued at $19,311,000 after purchasing an additional 53,277 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Science Applications International by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 100,737 shares of the company's stock valued at $9,562,000 after purchasing an additional 1,743 shares during the period. 76.00% of the stock is currently owned by institutional investors and hedge funds.

Science Applications International Stock Up 1.5%

Shares of NASDAQ SAIC opened at $145.73 on Friday. Science Applications International Corporation has a 12 month low of $81.08 and a 12 month high of $147.05. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.71. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 17.04 and a beta of 0.31. The stock has a 50-day moving average price of $130.11 and a two-hundred day moving average price of $115.15.

Science Applications International (NASDAQ:SAIC - Get Free Report) last released its quarterly earnings data on Monday, August 31st. The company reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.70. Science Applications International had a return on equity of 34.68% and a net margin of 5.13%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the business posted $3.63 EPS. Science Applications International's revenue for the quarter was up 6.3% on a year-over-year basis. As a group, analysts forecast that Science Applications International Corporation will post 10.77 earnings per share for the current fiscal year.

Science Applications International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 9th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, October 9th. Science Applications International's payout ratio is presently 17.31%.

Insider Activity

In related news, Director C. David Cush acquired 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 22nd. The stock was acquired at an average price of $132.50 per share, for a total transaction of $132,500.00. Following the completion of the acquisition, the director owned 1,000 shares of the company's stock, valued at approximately $132,500. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Science Applications International from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 27th. Jefferies Financial Group upped their price objective on shares of Science Applications International from $130.00 to $140.00 and gave the company a "hold" rating in a research report on Tuesday, September 1st. Stifel Nicolaus raised their price objective on Science Applications International from $137.00 to $154.00 and gave the stock a "buy" rating in a research note on Tuesday, September 1st. UBS Group lifted their target price on Science Applications International from $108.00 to $123.00 and gave the stock a "neutral" rating in a report on Tuesday, September 1st. Finally, The Goldman Sachs Group raised their price target on Science Applications International from $93.00 to $103.00 and gave the stock a "sell" rating in a research report on Tuesday, September 8th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $125.22.

About Science Applications International

Science Applications International Corporation (SAIC) is a technology integrator and professional services company that supports the U.S. government and its missions. The company provides information technology modernization, systems engineering, mission support, enterprise transformation, and program management services to defense, intelligence, space, federal civilian, and national security customers.

SAIC's capabilities include cloud computing, artificial intelligence and machine learning, cybersecurity, software development, data analytics, digital engineering, network modernization, and IT infrastructure management.

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