Huber Capital Management LLC Trims Position in Science Applications International Co. $SAIC

Key Points

• Huber Capital Management LLC reduced its stake in Science Applications International Co. by 35.1%, now holding approximately 49,562 shares after selling 26,800 shares during the first quarter.
• Science Applications International reported $1.92 earnings per share for the last quarter, missing analysts' consensus estimates of $2.17, with revenue up 1.6% compared to the previous year.
• Analysts have issued mixed ratings on the stock, with four rated as Buy, six as Hold, and one as Sell, while the average price target stands at $125.64.

Huber Capital Management LLC lessened its position in Science Applications International Co. (NYSE:SAIC - Free Report) by 35.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,562 shares of the information technology services provider's stock after selling 26,800 shares during the period. Science Applications International comprises 1.0% of Huber Capital Management LLC's portfolio, making the stock its 29th largest holding. Huber Capital Management LLC owned about 0.10% of Science Applications International worth $5,564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SAIC. Mariner LLC lifted its stake in shares of Science Applications International by 2.8% in the fourth quarter. Mariner LLC now owns 3,875 shares of the information technology services provider's stock worth $433,000 after buying an additional 106 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Science Applications International by 6.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,480 shares of the information technology services provider's stock worth $3,519,000 after buying an additional 1,783 shares in the last quarter. Northern Trust Corp lifted its stake 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 worth $51,258,000 after buying an additional 52,422 shares in the last quarter. AQR Capital Management LLC lifted 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 buying an additional 179,963 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its position in Science Applications International by 1,441.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,756 shares of the information technology services provider's stock valued at $2,544,000 after purchasing an additional 21,280 shares during the period. Institutional investors own 76.00% of the company's stock.

Science Applications International Stock Performance

SAIC stock traded down $0.15 during midday trading on Tuesday, reaching $117.55. 170,666 shares of the company's stock traded hands, compared to its average volume of 640,639. Science Applications International Co. has a 52-week low of $94.68 and a 52-week high of $156.34. The stock has a market cap of $5.51 billion, a P/E ratio of 19.82 and a beta of 0.49. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20. The stock's 50-day moving average is $115.17 and its 200 day moving average is $112.61.

Science Applications International (NYSE:SAIC - Get Free Report) last announced 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%. The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.92 EPS. As a group, analysts anticipate that Science Applications International Co. will post 8.27 EPS for the current year.

Science Applications International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be paid a $0.37 dividend. The ex-dividend date of this dividend 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 dividend payout ratio is 20.76%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of Science Applications International from $115.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Monday, June 9th. Stifel Nicolaus assumed coverage on shares of Science Applications International in a research report on Tuesday, June 24th. They set a "buy" rating and a $130.00 price objective on the stock. Jefferies Financial Group increased their price objective on shares of Science Applications International from $120.00 to $130.00 and gave the company a "hold" rating in a research report on Thursday, May 15th. Wells Fargo & Company increased their price objective on shares of Science Applications International from $132.00 to $137.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Finally, UBS Group lowered their price objective 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. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $125.64.

Science Applications International Company 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.