Federated Hermes Inc. Sells 3,229 Shares of 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. cut its position in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 16.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 institutional investors have also added to or reduced their stakes in SAIC. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Science Applications International by 27.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,186,547 shares of the information technology services provider's stock valued at $244,412,000 after acquiring an additional 464,989 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in Science Applications International during the fourth quarter valued at approximately $34,909,000. AQR Capital Management LLC raised its position in Science Applications International by 68.4% during the fourth quarter. AQR Capital Management LLC now owns 443,246 shares of the information technology services provider's stock valued at $49,413,000 after purchasing an additional 179,963 shares during the period. Marshall Wace LLP bought a new stake in shares of Science Applications International in the 4th quarter valued at approximately $18,694,000. Finally, Bragg Financial Advisors Inc boosted its holdings in shares of Science Applications International by 97.0% in the 4th quarter. Bragg Financial Advisors Inc now owns 209,541 shares of the information technology services provider's stock worth $23,422,000 after purchasing an additional 103,191 shares during the period. Hedge funds and other institutional investors own 76.00% of the company's stock.

Science Applications International Trading Up 0.1%

Shares of Science Applications International stock traded up $0.11 on Wednesday, hitting $115.29. 372,125 shares of the company traded hands, compared to its average volume of 680,338. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20. The company has a market cap of $5.40 billion, a PE ratio of 19.44 and a beta of 0.49. The stock's 50 day moving average price is $110.58 and its 200-day moving average price is $111.33. Science Applications International Co. has a 52 week low of $94.68 and a 52 week high of $156.34.

Science Applications International (NYSE:SAIC - Get Free Report) last released its quarterly earnings data on Monday, June 2nd. The information technology services provider reported $1.92 EPS 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%. During the same period in the previous year, the company earned $1.92 EPS. The business's revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts predict that Science Applications International Co. will post 8.27 EPS for the current year.

Science Applications International Announces Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Science Applications International from $132.00 to $137.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Truist Financial boosted their price objective on shares of Science Applications International from $100.00 to $110.00 and gave the company a "hold" rating in a research report on Thursday, July 24th. Jefferies Financial Group raised their target price 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. Stifel Nicolaus initiated coverage on shares of Science Applications International in a research note on Tuesday, June 24th. They set a "buy" rating and a $130.00 price target for the company. Finally, UBS Group reduced their price objective on shares of 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Science Applications International has an average rating of "Hold" and an average price target of $125.64.

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.