Northern Trust Corp Sells 28,126 Shares of Science Applications International Co. $SAIC

Key Points

• Northern Trust Corp reduced its holdings in Science Applications International Co. (SAIC) by 6.1%, now owning 430,434 shares valued at approximately $48.33 million.
• Institutional investors collectively own 76.00% of Science Applications International's stock, with several firms, including Parallel Advisors LLC and US Bancorp DE, increasing their holdings in the first quarter.
• Science Applications reported $1.92 EPS, missing consensus estimates of $2.17, while analysts predict 8.27 EPS for the current year.

Northern Trust Corp reduced its holdings in Science Applications International Co. (NYSE:SAIC - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 430,434 shares of the information technology services provider's stock after selling 28,126 shares during the quarter. Northern Trust Corp owned approximately 0.90% of Science Applications International worth $48,325,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. increased its position in Science Applications International by 30.2% in the 1st quarter. Raymond James Financial Inc. now owns 116,900 shares of the information technology services provider's stock valued at $13,124,000 after acquiring an additional 27,095 shares during the period. Cresset Asset Management LLC acquired a new position in Science Applications International in the 1st quarter valued at approximately $223,000. Weik Capital Management acquired a new position in Science Applications International in the 1st quarter valued at approximately $202,000. Wealthedge Investment Advisors LLC increased its position in Science Applications International by 12.5% in the 1st quarter. Wealthedge Investment Advisors LLC now owns 4,495 shares of the information technology services provider's stock valued at $505,000 after acquiring an additional 500 shares during the period. Finally, American Century Companies Inc. increased its position in Science Applications International by 3.0% in the 1st quarter. American Century Companies Inc. now owns 362,188 shares of the information technology services provider's stock valued at $40,663,000 after acquiring an additional 10,417 shares during the period. 76.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on SAIC shares. Jefferies Financial Group upped their price target 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. UBS Group decreased their price target on shares of Science Applications International from $121.00 to $111.00 and set a "neutral" rating for the company in a research report on Tuesday, June 3rd. Stifel Nicolaus started coverage on shares of Science Applications International in a research note on Tuesday, June 24th. They issued a "buy" rating and a $130.00 price objective on the stock. Wells Fargo & Company upped 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 note on Wednesday, June 4th. Finally, Truist Financial upped their price objective on shares of Science Applications International from $100.00 to $110.00 and gave the company a "hold" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Science Applications International has a consensus rating of "Hold" and an average target price of $125.64.

Science Applications International Stock Up 0.5%

NYSE SAIC traded up $0.57 on Tuesday, hitting $118.27. 571,434 shares of the company were exchanged, compared to its average volume of 643,135. The company has a market cap of $5.54 billion, a PE ratio of 19.94 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 stock has a fifty day moving average of $115.43 and a 200-day moving average of $112.64. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20.

Science Applications International (NYSE:SAIC - Get Free Report) last issued its earnings results on Monday, June 2nd. The information technology services provider reported $1.92 earnings per share (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%.The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.92 EPS. As a group, analysts forecast that Science Applications International Co. will post 8.27 earnings per share for the current year.

Science Applications International Dividend Announcement

The business 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 of this dividend is Friday, October 10th. This represents a $1.48 annualized dividend and a yield of 1.3%. Science Applications International's dividend payout ratio is currently 20.76%.

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.