Federated Hermes Inc. Reduces Stock Holdings in Science Applications International Co. (NYSE:SAIC)

Key Points

• Federated Hermes Inc. has reduced its stake in Science Applications International Co. by 16.1%, selling 3,229 shares and now holds 16,886 shares valued at approximately $1.9 million.
• Science Applications International's last quarterly earnings reported an EPS of $1.92, missing the consensus estimate of $2.17, with a 1.6% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.37, equating to an annual yield of 1.3%, with a payout ratio of 20.76%.

Federated Hermes Inc. lowered its holdings in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 16.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 16,886 shares of the information technology services provider's stock after selling 3,229 shares during the period. Federated Hermes Inc.'s holdings in Science Applications International were worth $1,896,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SAIC. Fifth Third Bancorp raised 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 buying an additional 88 shares during the last quarter. Larson Financial Group LLC raised its stake in Science Applications International by 43.2% during the first quarter. Larson Financial Group LLC now owns 325 shares of the information technology services provider's stock worth $36,000 after buying an additional 98 shares during the last quarter. Mariner LLC raised its stake in Science Applications International by 2.8% during the fourth 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 raised its stake in Science Applications International by 2.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 7,029 shares of the information technology services provider's stock worth $786,000 after buying an additional 142 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in Science Applications International by 112.1% during the first quarter. Parallel Advisors LLC now owns 280 shares of the information technology services provider's stock worth $31,000 after buying an additional 148 shares during the last quarter. Institutional investors own 76.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SAIC shares. UBS Group lowered their target price on shares of Science Applications International from $121.00 to $111.00 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. Wells Fargo & Company raised their price target on shares of Science Applications International from $132.00 to $137.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Stifel Nicolaus initiated coverage on shares of Science Applications International in a report on Tuesday, June 24th. They issued a "buy" rating and a $130.00 price target for the company. JPMorgan Chase & Co. reduced their price target on shares of Science Applications International from $148.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, Jefferies Financial Group raised their price target on shares of Science Applications International from $120.00 to $130.00 and gave the stock a "hold" rating in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $125.64.

Science Applications International Stock Up 0.4%

Shares of NYSE SAIC traded up $0.52 during mid-day trading on Friday, reaching $116.66. 394,999 shares of the company's stock traded hands, compared to its average volume of 675,824. The stock has a market cap of $5.47 billion, a P/E ratio of 19.67 and a beta of 0.49. The business has a 50-day simple moving average of $110.64 and a 200 day simple moving average of $111.33. Science Applications International Co. has a 1-year low of $94.68 and a 1-year 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 issued its quarterly earnings data on Monday, June 2nd. The information technology services provider reported $1.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.17 by ($0.25). Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. Science Applications International's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 EPS. On average, analysts expect that Science Applications International Co. will post 8.27 EPS for the current fiscal year.

Science Applications International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, July 11th. This represents a $1.48 annualized dividend and a yield of 1.3%. Science Applications International's payout ratio is 20.76%.

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.