GSA Capital Partners LLP Cuts Stock Position in Science Applications International Co. (NYSE:SAIC)

Key Points

• GSA Capital Partners LLP reduced its stake in Science Applications International Co. by 23.9% in the first quarter, owning 7,340 shares after selling 2,309 shares.
• Several institutional investors have adjusted their positions, with Fifth Third Bancorp increasing its stake by 22.7% and Parallel Advisors LLC by 112.1% in the same period.
• Analysts have set a new average price target of $125.64 for Science Applications International, with ratings ranging from sell to strong buy.

GSA Capital Partners LLP cut its stake in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 23.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,340 shares of the information technology services provider's stock after selling 2,309 shares during the period. GSA Capital Partners LLP's holdings in Science Applications International were worth $824,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SAIC. Norges Bank acquired a new position in shares of Science Applications International in the fourth quarter valued at approximately $63,572,000. Fuller & Thaler Asset Management Inc. boosted its position in 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 buying an additional 464,989 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of Science Applications International in the fourth quarter worth $34,909,000. AQR Capital Management LLC grew its stake in shares of Science Applications International by 68.4% in the fourth quarter. AQR Capital Management LLC now owns 443,246 shares of the information technology services provider's stock worth $49,413,000 after acquiring an additional 179,963 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Science Applications International during the fourth quarter worth $18,694,000. 76.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SAIC has been the subject of a number of recent research reports. Jefferies Financial Group lifted their target price on Science Applications International from $120.00 to $130.00 and gave the company a "hold" rating in a report on Thursday, May 15th. Wells Fargo & Company lifted their price objective on Science Applications International from $132.00 to $137.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. UBS Group lowered their price objective on Science Applications International from $121.00 to $111.00 and set a "neutral" rating for the company in a research report on Tuesday, June 3rd. Truist Financial raised their target price on shares of Science Applications International from $100.00 to $110.00 and gave the company a "hold" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. decreased 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 research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $125.64.

Science Applications International Stock Down 0.7%

SAIC stock traded down $0.75 during midday trading on Friday, reaching $110.73. 534,079 shares of the company were exchanged, compared to its average volume of 686,720. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 18.67 and a beta of 0.49. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87. Science Applications International Co. has a 1-year low of $94.68 and a 1-year high of $156.34. The stock's 50-day simple moving average is $110.76 and its 200 day simple moving average is $111.36.

Science Applications International (NYSE:SAIC - Get Free Report) last posted its earnings results on Monday, June 2nd. The information technology services provider reported $1.92 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 in the previous year, the company earned $1.92 earnings per share. The business's revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts forecast that Science Applications International Co. will post 8.27 earnings per share for the current year.

Science Applications International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors 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 was Friday, July 11th. Science Applications International's dividend payout ratio (DPR) is currently 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.