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 bought a new stake in Science Applications International Co. (NYSE:SAIC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,412 shares of the information technology services provider's stock, valued at approximately $495,000.

Other large investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Science Applications International by 9.4% in 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 purchasing an additional 271 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in Science Applications International in the 1st quarter worth approximately $204,000. SG Americas Securities LLC lifted its holdings in Science Applications International by 19.4% in the 1st quarter. SG Americas Securities LLC now owns 4,508 shares of the information technology services provider's stock worth $506,000 after purchasing an additional 732 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Science Applications International by 17.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 41,141 shares of the information technology services provider's stock worth $4,619,000 after purchasing an additional 6,137 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Science Applications International by 96.8% in the 1st quarter. GAMMA Investing LLC now owns 614 shares of the information technology services provider's stock worth $69,000 after purchasing an additional 302 shares during the last quarter. 76.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SAIC has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their target price on Science Applications International from $148.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group boosted their target price on Science Applications International from $120.00 to $130.00 and gave the stock a "hold" rating in a report on Thursday, May 15th. Truist Financial lifted their price target on Science Applications International from $100.00 to $110.00 and gave the stock a "hold" rating in a research report on Thursday, July 24th. Stifel Nicolaus assumed coverage on Science Applications International in a research report on Tuesday, June 24th. They issued a "buy" rating and a $130.00 price objective for the company. Finally, UBS Group dropped their target price 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 given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Science Applications International has a consensus rating of "Hold" and an average price target of $125.64.

Science Applications International Trading Down 0.8%

Shares of Science Applications International stock opened at $111.48 on Friday. Science Applications International Co. has a 52-week low of $94.68 and a 52-week high of $156.34. The firm has a market capitalization of $5.23 billion, a PE ratio of 18.80 and a beta of 0.49. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.87 and a quick ratio of 0.87. The company's fifty day moving average price is $110.89 and its two-hundred day moving average price is $111.43.

Science Applications International (NYSE:SAIC - Get Free Report) last announced 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%. During the same quarter last year, the firm posted $1.92 earnings per share. The business's quarterly revenue was up 1.6% on a year-over-year basis. On average, analysts expect 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. Stockholders of record on Friday, July 11th were paid a $0.37 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.3%. Science Applications International's dividend payout ratio is currently 20.76%.

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.

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