Econ Financial Services Corp Purchases Shares of 4,628 Science Applications International Co. (NYSE:SAIC)

Econ Financial Services Corp acquired a new position in shares of Science Applications International Co. (NYSE:SAIC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,628 shares of the information technology services provider's stock, valued at approximately $520,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SAIC. Fifth Third Bancorp lifted its stake in Science Applications International by 22.7% during the first quarter. Fifth Third Bancorp now owns 475 shares of the information technology services provider's stock worth $53,000 after purchasing an additional 88 shares during the last quarter. Xponance Inc. lifted its position in shares of Science Applications International by 1.5% in the 4th quarter. Xponance Inc. now owns 6,869 shares of the information technology services provider's stock worth $768,000 after buying an additional 99 shares during the last quarter. Mariner LLC lifted its position in shares of Science Applications International by 2.8% in the 4th quarter. Mariner LLC now owns 3,875 shares of the information technology services provider's stock worth $433,000 after buying an additional 106 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Science Applications International by 2.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 7,029 shares of the information technology services provider's stock valued at $786,000 after buying an additional 142 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of 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 valued at $31,000 after buying an additional 148 shares during the last quarter. Institutional investors own 76.00% of the company's stock.

Insider Buying and Selling at Science Applications International

In other Science Applications International news, CEO Toni Townes-Whitley acquired 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The stock was purchased at an average cost of $111.67 per share, for a total transaction of $223,340.00. Following the completion of the acquisition, the chief executive officer now owns 45,183 shares of the company's stock, valued at approximately $5,045,585.61. This trade represents a 4.63% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John K. Tien, Jr. bought 215 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were bought at an average price of $116.50 per share, for a total transaction of $25,047.50. Following the completion of the acquisition, the director now owns 919 shares of the company's stock, valued at approximately $107,063.50. This represents a 30.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 2,660 shares of company stock worth $298,773. 0.44% of the stock is currently owned by company insiders.

Science Applications International Trading Up 1.4%

NYSE SAIC traded up $1.56 on Thursday, hitting $109.16. 623,942 shares of the stock were exchanged, compared to its average volume of 541,654. The company's 50-day moving average price is $114.07 and its two-hundred day moving average price is $111.23. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 18.41 and a beta of 0.50. Science Applications International Co. has a 52-week low of $94.68 and a 52-week high of $156.34. 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 (NYSE:SAIC - Get Free Report) last posted 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 last year, the business earned $1.92 EPS. The firm's revenue was up 1.6% on a year-over-year basis. Research analysts predict that Science Applications International Co. will post 8.27 EPS for the current year.

Science Applications International Announces Dividend

The business also recently disclosed 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. This represents a $1.48 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Friday, July 11th. Science Applications International's payout ratio is presently 20.76%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SAIC. JPMorgan Chase & Co. cut their target price 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. Jefferies Financial Group raised their price target on Science Applications International from $120.00 to $130.00 and gave the stock a "hold" rating in a report on Thursday, May 15th. Stifel Nicolaus assumed coverage on Science Applications International in a research note on Tuesday. They set a "buy" rating and a $130.00 price objective for the company. Barclays cut their target price on Science Applications International from $115.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Monday, June 9th. Finally, Wells Fargo & Company upped their price target on shares of 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $124.73.

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.