Formidable Asset Management LLC Acquires Shares of 3,784 Science Applications International Co. (NYSE:SAIC)

Formidable Asset Management LLC purchased a new stake in shares of Science Applications International Co. (NYSE:SAIC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,784 shares of the information technology services provider's stock, valued at approximately $423,000.

Several other large investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC purchased a new stake in Science Applications International during the 4th quarter worth approximately $28,000. True Wealth Design LLC purchased a new position in Science Applications International in the 4th quarter valued at $48,000. Kapitalo Investimentos Ltda acquired a new stake in Science Applications International during the 4th quarter worth $58,000. Jones Financial Companies Lllp boosted its stake in Science Applications International by 32.3% during the 4th quarter. Jones Financial Companies Lllp now owns 639 shares of the information technology services provider's stock worth $71,000 after purchasing an additional 156 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Science Applications International by 33.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the information technology services provider's stock valued at $75,000 after buying an additional 167 shares during the last quarter. 76.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on SAIC shares. 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 research note on Thursday, May 15th. Wells Fargo & Company dropped their price objective on shares of Science Applications International from $148.00 to $132.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. UBS Group upped their target price on shares of Science Applications International from $123.00 to $126.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 18th. Cantor Fitzgerald upgraded Science Applications International to a "hold" rating in a report on Tuesday, February 25th. Finally, Truist Financial dropped their price target on Science Applications International from $135.00 to $115.00 and set a "hold" rating on the stock in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $131.20.

Science Applications International Price Performance

SAIC traded down $0.50 on Friday, hitting $114.81. 338,415 shares of the company were exchanged, compared to its average volume of 515,772. Science Applications International Co. has a fifty-two week low of $94.68 and a fifty-two week high of $156.34. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $5.48 billion, a P/E ratio of 19.35 and a beta of 0.55. The business's fifty day moving average is $117.13 and its 200 day moving average is $113.98.

Science Applications International (NYSE:SAIC - Get Free Report) last released its quarterly earnings results on Monday, March 17th. The information technology services provider reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates of $2.00 by $0.57. The business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.81 billion. Science Applications International had a return on equity of 24.18% and a net margin of 4.11%. The company's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 EPS. As a group, sell-side analysts anticipate that Science Applications International Co. will post 8.27 EPS for the current year.

Science Applications International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.29%. Science Applications International's dividend payout ratio (DPR) is currently 20.58%.

Insider Buying and Selling

In other Science Applications International news, Director Carolyn B. Handlon purchased 230 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average price of $109.93 per share, for a total transaction of $25,283.90. Following the completion of the acquisition, the director now owns 4,032 shares of the company's stock, valued at approximately $443,237.76. This represents a 6.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Toni Townes-Whitley purchased 2,000 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was bought at an average price of $111.67 per share, with a total value of $223,340.00. Following the completion of the acquisition, the chief executive officer now owns 45,183 shares in the company, valued at $5,045,585.61. This represents a 4.63% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 3,260 shares of company stock worth $365,037 in the last ninety days. Insiders own 0.44% of the company's stock.

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.