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

Edgestream Partners L.P. lessened its stake in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 81.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SAIC. Sumitomo Mitsui Trust Group Inc. boosted its position in Science Applications International by 9.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160 shares of the information technology services provider's stock worth $355,000 after acquiring an additional 271 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in Science Applications International during the 1st quarter worth about $204,000. SG Americas Securities LLC boosted its position in Science Applications International by 19.4% during the 1st quarter. SG Americas Securities LLC now owns 4,508 shares of the information technology services provider's stock worth $506,000 after acquiring an additional 732 shares during the period. GAMMA Investing LLC boosted its position in Science Applications International by 96.8% during the 1st quarter. GAMMA Investing LLC now owns 614 shares of the information technology services provider's stock worth $69,000 after acquiring an additional 302 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Science Applications International during the 4th quarter worth about $1,414,000. Institutional investors and hedge funds own 76.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SAIC. Truist Financial decreased their target price on Science Applications International from $115.00 to $100.00 and set a "hold" rating for the company in a research report on Tuesday, June 3rd. Wells Fargo & Company upped their price target on Science Applications International from $132.00 to $137.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. 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. Jefferies Financial Group increased their target price 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. Finally, JPMorgan Chase & Co. dropped 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Science Applications International presently has a consensus rating of "Hold" and an average price target of $124.73.

Science Applications International Price Performance

Shares of Science Applications International stock traded up $1.49 during trading on Wednesday, reaching $116.06. 454,171 shares of the company's stock were exchanged, compared to its average volume of 552,062. 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 1-year low of $94.68 and a 1-year high of $156.34. The company has a market cap of $5.44 billion, a P/E ratio of 19.57 and a beta of 0.49. The firm's 50-day moving average price is $112.00 and its 200 day moving average price is $111.49.

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 EPS for the quarter, missing analysts' consensus estimates of $2.17 by ($0.25). Science Applications International had a return on equity of 24.18% and a net margin of 4.11%. During the same period last year, the firm posted $1.92 EPS. The business's revenue was up 1.6% on a year-over-year basis. As a group, research analysts anticipate that Science Applications International Co. will post 8.27 earnings per share for the current year.

Science Applications International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be paid a $0.37 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.48 annualized dividend and a dividend yield of 1.28%. Science Applications International's payout ratio is 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.