Econ Financial Services Corp Makes New $520,000 Investment in Science Applications International Co. (NYSE:SAIC)

Econ Financial Services Corp acquired a new stake in shares of Science Applications International Co. (NYSE:SAIC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,628 shares of the information technology services provider's stock, valued at approximately $520,000.

A number of other large investors also recently modified their holdings of SAIC. Parallel Advisors LLC grew its position in 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 acquiring an additional 148 shares during the last quarter. True Wealth Design LLC bought a new position in Science Applications International during the 4th quarter worth approximately $48,000. Fifth Third Bancorp grew its position in 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 acquiring an additional 88 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in Science Applications International during the 4th quarter worth approximately $58,000. Finally, UMB Bank n.a. grew its position in Science Applications International by 220.1% during the 1st quarter. UMB Bank n.a. now owns 557 shares of the information technology services provider's stock worth $63,000 after acquiring an additional 383 shares during the last quarter. 76.00% of the stock is owned by hedge funds and other institutional investors.

Science Applications International Stock Up 0.1%

Shares of NYSE SAIC traded up $0.08 during mid-day trading on Friday, hitting $109.24. 685,453 shares of the stock traded hands, compared to its average volume of 544,132. 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 Co. has a 52 week low of $94.68 and a 52 week high of $156.34. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 18.42 and a beta of 0.50. The stock has a fifty day moving average price of $113.77 and a 200-day moving average price of $111.12.

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 earnings per share 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%. During the same period in the prior year, the business earned $1.92 EPS. The firm's revenue was up 1.6% compared to the same quarter last year. Research analysts anticipate that Science Applications International Co. will post 8.27 EPS for the current year.

Science Applications International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, July 11th. This represents a $1.48 annualized dividend and a dividend yield of 1.35%. Science Applications International's dividend payout ratio is presently 20.76%.

Insider Activity at Science Applications International

In other news, Director John K. Tien, Jr. purchased 215 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were bought at an average cost of $116.50 per share, for a total transaction of $25,047.50. Following the completion of the transaction, the director now directly owns 919 shares of the company's stock, valued at $107,063.50. This trade represents a 30.54% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carolyn B. Handlon bought 230 shares of the company's stock in a transaction on Monday, April 7th. The stock was bought at an average cost of $109.93 per share, for a total transaction of $25,283.90. Following the completion of the acquisition, the director now directly owns 4,032 shares of the company's stock, valued at approximately $443,237.76. This represents a 6.05% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 660 shares of company stock worth $75,433 over the last ninety days. 0.44% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group reduced their price target on Science Applications International from $121.00 to $111.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. reduced their price target on 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. Stifel Nicolaus began coverage on Science Applications International in a research report on Tuesday. They issued a "buy" rating and a $130.00 price objective on the stock. Barclays cut their price objective on 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. Finally, Wells Fargo & Company lifted their price objective on Science Applications International from $132.00 to $137.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $124.73.

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.