Headlands Technologies LLC Trims Position in Science Applications International Co. (NYSE:SAIC)

Key Points

• Headlands Technologies LLC significantly reduced its holdings in Science Applications International Co. (NYSE:SAIC) by 85.0%, ending the 1st quarter with only 1,173 shares valued at $132,000.
• Science Applications International reported a quarterly EPS of $1.92, which missed analysts' expectations by $0.25, despite a 1.6% increase in revenue year-over-year.
• Institutional investors hold 76.00% of the company's stock, and recent analyst ratings show a mix of hold and buy positions, with an average price target of $125.64.

Headlands Technologies LLC cut its stake in Science Applications International Co. (NYSE:SAIC - Free Report) by 85.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,173 shares of the information technology services provider's stock after selling 6,645 shares during the period. Headlands Technologies LLC's holdings in Science Applications International were worth $132,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SAIC. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Science Applications International by 27.0% in the fourth 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 last quarter. First Trust Advisors LP raised its holdings in shares of Science Applications International by 0.3% in the fourth quarter. First Trust Advisors LP now owns 1,218,137 shares of the information technology services provider's stock valued at $136,163,000 after buying an additional 3,078 shares during the last quarter. LSV Asset Management raised its holdings in shares of Science Applications International by 8.3% in the first quarter. LSV Asset Management now owns 535,295 shares of the information technology services provider's stock valued at $60,098,000 after buying an additional 41,139 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Science Applications International by 12.9% in the fourth quarter. Northern Trust Corp now owns 458,560 shares of the information technology services provider's stock valued at $51,258,000 after buying an additional 52,422 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings 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 valued at $49,413,000 after buying an additional 179,963 shares during the last quarter. 76.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SAIC shares. UBS Group reduced 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 report on Tuesday, June 3rd. Barclays dropped 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 note on Monday, June 9th. Wells Fargo & Company boosted their price target on shares of Science Applications International from $132.00 to $137.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Truist Financial boosted their price target on shares of Science Applications International from $100.00 to $110.00 and gave the stock a "hold" rating in a research note on Thursday, July 24th. Finally, Jefferies Financial Group boosted their price target 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Science Applications International currently has a consensus rating of "Hold" and an average price target of $125.64.

Science Applications International Price Performance

Science Applications International stock traded up $0.01 during mid-day trading on Friday, reaching $117.32. The company had a trading volume of 104,822 shares, compared to its average volume of 663,205. The stock's 50-day simple moving average is $111.89 and its 200-day simple moving average is $111.48. The company has a market capitalization of $5.50 billion, a P/E ratio of 19.78 and a beta of 0.49. Science Applications International Co. has a 1 year low of $94.68 and a 1 year high of $156.34. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.87 and a quick ratio of 0.87.

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 net margin of 4.11% and a return on equity of 24.18%. Science Applications International's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.92 earnings per share. On average, equities 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 declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a $0.37 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.48 annualized dividend and a dividend yield of 1.3%. Science Applications International's dividend payout ratio 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.