Edgestream Partners L.P. Reduces Stock Position in Science Applications International Co. (NYSE:SAIC)

Edgestream Partners L.P. reduced its stake in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 81.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,027 shares of the information technology services provider's stock after selling 18,193 shares during the period. Edgestream Partners L.P.'s holdings in Science Applications International were worth $452,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SAIC. Parallel Advisors LLC increased its holdings 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 purchasing an additional 148 shares in the last quarter. True Wealth Design LLC bought a new stake in Science Applications International during the 4th quarter worth approximately $48,000. Fifth Third Bancorp increased its holdings 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 purchasing an additional 88 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in Science Applications International during the 4th quarter worth approximately $58,000. Finally, Hughes Financial Services LLC bought a new stake in Science Applications International during the 1st quarter worth approximately $58,000. 76.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SAIC has been the subject of several recent analyst reports. Truist Financial reduced their target price on Science Applications International from $115.00 to $100.00 and set a "hold" rating for the company in a report on Tuesday, June 3rd. Stifel Nicolaus began coverage on Science Applications International in a research note on Tuesday, June 24th. They issued a "buy" rating and a $130.00 price objective on the stock. Jefferies Financial Group upped their price objective on Science Applications International from $120.00 to $130.00 and gave the company a "hold" rating in a research note on Thursday, May 15th. UBS Group dropped their price objective on Science Applications International from $121.00 to $111.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 3rd. Finally, Barclays dropped 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 note on Monday, June 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $124.73.

Science Applications International Price Performance

Shares of Science Applications International stock traded down $0.16 during trading on Friday, hitting $113.42. The stock had a trading volume of 249,369 shares, compared to its average volume of 551,960. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 19.13 and a beta of 0.49. Science Applications International Co. has a 12 month low of $94.68 and a 12 month high of $156.34. The business's 50-day moving average is $112.29 and its 200 day moving average is $111.46. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20.

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 return on equity of 24.18% and a net margin of 4.11%. Science Applications International's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.92 earnings per share. As a group, sell-side analysts anticipate that Science Applications International Co. will post 8.27 earnings per share for the current year.

Science Applications International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.30%. Science Applications International's dividend payout ratio is presently 20.76%.

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.