Foundations Investment Advisors LLC Acquires New Holdings in Science Applications International Co. (NYSE:SAIC)

Key Points

• Foundations Investment Advisors LLC has acquired a new stake in Science Applications International Co. (NYSE: SAIC), purchasing 4,412 shares valued at approximately $495,000 in the first quarter of 2023.
• Despite the recent acquisitions by institutional investors, Science Applications International's stock has been downgraded by multiple analysts, with a consensus rating of "Hold" and an average price target of $125.64.
• The company recently paid a quarterly dividend of $0.37, resulting in an annualized dividend yield of 1.3% and a payout ratio of 20.76%.

Foundations Investment Advisors LLC acquired a new stake in Science Applications International Co. (NYSE:SAIC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,412 shares of the information technology services provider's stock, valued at approximately $495,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HB Wealth Management LLC increased its position in shares of Science Applications International by 1.4% in the first quarter. HB Wealth Management LLC now owns 17,748 shares of the information technology services provider's stock valued at $1,993,000 after acquiring an additional 239 shares during the period. Cetera Investment Advisers boosted its stake in shares of Science Applications International by 4.2% in the 1st quarter. Cetera Investment Advisers now owns 18,157 shares of the information technology services provider's stock worth $2,039,000 after buying an additional 731 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Science Applications International during the 1st quarter valued at about $442,000. KLP Kapitalforvaltning AS raised its holdings in Science Applications International by 19.8% in the 1st quarter. KLP Kapitalforvaltning AS now owns 15,150 shares of the information technology services provider's stock worth $1,701,000 after purchasing an additional 2,500 shares during the period. Finally, Choreo LLC bought a new stake in shares of Science Applications International during the 1st quarter valued at $232,000. Hedge funds and other institutional investors own 76.00% of the company's stock.

Analyst Ratings Changes

SAIC has been the subject of a number of recent analyst reports. 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. Barclays lowered their price target on shares of Science Applications International from $115.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Monday, June 9th. JPMorgan Chase & Co. cut their price target on Science Applications International from $148.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Truist Financial increased their price target on shares of Science Applications International from $100.00 to $110.00 and gave the company a "hold" rating in a research note on Thursday, July 24th. Finally, Stifel Nicolaus began coverage on shares of Science Applications International in a research report on Tuesday, June 24th. They issued a "buy" rating and a $130.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $125.64.

Science Applications International Price Performance

SAIC stock traded up $2.50 during midday trading on Tuesday, hitting $115.71. 171,647 shares of the stock were exchanged, compared to its average volume of 680,473. 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 stock's 50-day moving average price is $110.67 and its 200-day moving average price is $111.30. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 19.54 and a beta of 0.49. Science Applications International Co. has a fifty-two week low of $94.68 and a fifty-two week high of $156.34.

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 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%. The company's revenue was up 1.6% on a year-over-year basis. During the same period last year, the business earned $1.92 EPS. Research analysts predict that Science Applications International Co. will post 8.27 earnings per share for the current year.

Science Applications International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, July 11th. Science Applications International's 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.