Hsbc Holdings PLC Buys New Stake in 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 position in shares of Science Applications International Co. (NYSE:SAIC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,315 shares of the information technology services provider's stock, valued at approximately $1,610,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SAIC. Parallel Advisors LLC grew its position in Science Applications International by 112.1% in the first quarter. Parallel Advisors LLC now owns 280 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 148 shares in the last quarter. US Bancorp DE lifted its position in Science Applications International by 38.5% during the first quarter. US Bancorp DE now owns 324 shares of the information technology services provider's stock valued at $36,000 after buying an additional 90 shares during the period. Larson Financial Group LLC lifted its position in Science Applications International by 43.2% during the first quarter. Larson Financial Group LLC now owns 325 shares of the information technology services provider's stock valued at $36,000 after buying an additional 98 shares during the period. Fifth Third Bancorp grew its stake in shares of Science Applications International by 22.7% in the first quarter. Fifth Third Bancorp now owns 475 shares of the information technology services provider's stock worth $53,000 after acquiring an additional 88 shares during the last quarter. Finally, Hughes Financial Services LLC purchased a new stake in shares of Science Applications International in the first quarter worth $58,000. Hedge funds and other institutional investors own 76.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wells Fargo & Company increased their target price on Science Applications International from $132.00 to $137.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. UBS Group decreased their price target on 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. Stifel Nicolaus initiated coverage on Science Applications International in a research note on Tuesday, June 24th. They issued a "buy" rating and a $130.00 price target for the company. Barclays decreased their price target 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. Finally, Jefferies Financial Group boosted their price target on Science Applications International from $120.00 to $130.00 and gave the stock a "hold" rating in a research note on Thursday, May 15th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $125.64.

Science Applications International Stock Performance

Shares of NYSE:SAIC traded down $4.16 during midday trading on Wednesday, hitting $114.11. The company had a trading volume of 824,950 shares, compared to its average volume of 644,218. 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 has a market cap of $5.35 billion, a price-to-earnings ratio of 19.24 and a beta of 0.49. Science Applications International Co. has a 12-month low of $94.68 and a 12-month high of $156.34. The company has a fifty day moving average of $115.56 and a two-hundred day moving average of $112.66.

Science Applications International (NYSE:SAIC - Get Free Report) last posted 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 previous year, the business earned $1.92 earnings per share. The company's quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts expect that Science Applications International Co. will post 8.27 EPS for the current fiscal year.

Science Applications International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, October 10th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.3%. Science Applications International's payout ratio is 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.