Science Applications International Co. (NYSE:SAIC) Shares Acquired by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Science Applications International Co. by 19.8% during Q1, raising its holdings to $1.70 million with a total of 15,150 shares.
• Several analysts have revised their price targets for Science Applications International, with Wells Fargo boosting its target from $132 to $137 and maintaining an "overweight" rating.
• The company recently announced a quarterly dividend of $0.37, resulting in an annualized dividend yield of 1.29%.

KLP Kapitalforvaltning AS lifted its position in Science Applications International Co. (NYSE:SAIC - Free Report) by 19.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,150 shares of the information technology services provider's stock after acquiring an additional 2,500 shares during the period. KLP Kapitalforvaltning AS's holdings in Science Applications International were worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp lifted its position in Science Applications International by 22.7% during the first quarter. Fifth Third Bancorp now owns 475 shares of the information technology services provider's stock worth $53,000 after buying an additional 88 shares in the last quarter. 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 worth $36,000 after buying an additional 98 shares in the last quarter. Mariner LLC raised its position in 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 valued at $433,000 after purchasing an additional 106 shares during the period. Pictet Asset Management Holding SA raised its position in Science Applications International by 2.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 7,029 shares of the information technology services provider's stock valued at $786,000 after purchasing an additional 142 shares during the period. Finally, Parallel Advisors LLC raised 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 valued at $31,000 after purchasing an additional 148 shares during the period. 76.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SAIC has been the topic of a number of research analyst reports. Stifel Nicolaus initiated coverage on Science Applications International in a research report on Tuesday, June 24th. They issued a "buy" rating and a $130.00 target price on the stock. Barclays reduced their target price on 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. Wells Fargo & Company lifted their target price on Science Applications International from $132.00 to $137.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Truist Financial boosted their price objective on Science Applications International from $100.00 to $110.00 and gave the company a "hold" rating in a report on Thursday, July 24th. Finally, Jefferies Financial Group boosted their price objective on Science Applications International from $120.00 to $130.00 and gave the company a "hold" rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Science Applications International has an average rating of "Hold" and an average target price of $125.64.

Science Applications International Stock Down 1.2%

Shares of NYSE:SAIC traded down $1.33 on Wednesday, hitting $112.33. 305,896 shares of the company's stock were exchanged, compared to its average volume of 689,577. The firm's 50-day moving average is $111.11 and its 200 day moving average is $111.48. The company has a market capitalization of $5.27 billion, a PE ratio of 18.94 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 quick ratio of 0.87 and a current ratio of 0.87.

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 earnings per share 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%. During the same period in the previous year, the company earned $1.92 earnings per share. The company's revenue was up 1.6% on a year-over-year basis. Sell-side 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 announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders 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 dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, July 11th. Science Applications International's dividend payout ratio (DPR) 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.