Hsbc Holdings PLC Purchases Shares of 14,315 Science Applications International Co. $SAIC

Key Points

• Hsbc Holdings PLC has acquired a new position in Science Applications International Co. (SAIC), purchasing 14,315 shares valued at approximately $1.61 million during the first quarter.
• Several institutional investors have increased their stakes in SAIC, indicating strong institutional interest in the company, which is now 76% owned by such investors.
• Analyst ratings for SAIC vary, with a consensus rating of "Hold" and target prices ranging from $110.00 to $137.00, demonstrating mixed expectations among research firms.

Hsbc Holdings PLC bought a new stake in Science Applications International Co. (NYSE:SAIC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 14,315 shares of the information technology services provider's stock, valued at approximately $1,610,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in shares of Science Applications International by 112.1% in the 1st quarter. Parallel Advisors LLC now owns 280 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 148 shares during the period. Larson Financial Group LLC lifted its stake in shares of Science Applications International by 43.2% in the 1st quarter. Larson Financial Group LLC now owns 325 shares of the information technology services provider's stock valued at $36,000 after purchasing an additional 98 shares during the period. US Bancorp DE lifted its stake in shares of Science Applications International by 38.5% in the 1st quarter. US Bancorp DE now owns 324 shares of the information technology services provider's stock valued at $36,000 after purchasing an additional 90 shares during the period. Fifth Third Bancorp lifted its stake in shares of Science Applications International by 22.7% in the 1st quarter. Fifth Third Bancorp now owns 475 shares of the information technology services provider's stock valued at $53,000 after purchasing an additional 88 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Science Applications International in the 4th quarter valued at approximately $58,000. Hedge funds and other institutional investors own 76.00% of the company's stock.

Science Applications International Stock Performance

Shares of SAIC traded down $0.14 during trading hours on Monday, hitting $117.70. The stock had a trading volume of 490,174 shares, compared to its average volume of 643,570. 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 Co. has a 12 month low of $94.68 and a 12 month high of $156.34. The firm has a market capitalization of $5.52 billion, a PE ratio of 19.85 and a beta of 0.49. The stock has a fifty day moving average price of $114.90 and a 200 day moving average price of $112.49.

Science Applications International (NYSE:SAIC - Get Free Report) last issued its quarterly earnings data 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%.During the same period in the prior year, the business posted $1.92 earnings per share. The firm's revenue was up 1.6% compared to the same quarter last year. Analysts anticipate that Science Applications International Co. will post 8.27 EPS for the current year.

Science Applications International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, October 10th. Science Applications International's payout ratio is currently 20.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Barclays lowered their price objective on Science Applications International from $115.00 to $105.00 and set an "equal weight" rating for the company in a research note on Monday, June 9th. Truist Financial lifted their target price on Science Applications International from $100.00 to $110.00 and gave the stock a "hold" rating in a report on Thursday, July 24th. UBS Group reduced their target price on Science Applications International from $121.00 to $111.00 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. Stifel Nicolaus assumed coverage on Science Applications International in a report on Tuesday, June 24th. They issued a "buy" rating and a $130.00 target price for the company. Finally, Jefferies Financial Group lifted 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. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $125.64.

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.