Cerity Partners LLC Cuts Holdings in Science Applications International Co. (NYSE:SAIC)

Cerity Partners LLC cut its stake in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 36.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,321 shares of the information technology services provider's stock after selling 3,076 shares during the period. Cerity Partners LLC's holdings in Science Applications International were worth $597,000 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 stock. Fifth Third Bancorp raised its stake in Science Applications International by 22.7% during the 1st quarter. Fifth Third Bancorp now owns 475 shares of the information technology services provider's stock valued at $53,000 after acquiring an additional 88 shares during the last quarter. Mariner LLC raised its stake in Science Applications International by 2.8% during the 4th quarter. Mariner LLC now owns 3,875 shares of the information technology services provider's stock valued at $433,000 after acquiring an additional 106 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Science Applications International by 2.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 7,029 shares of the information technology services provider's stock worth $786,000 after purchasing an additional 142 shares during the period. Parallel Advisors LLC increased its position in Science Applications International by 112.1% during the 1st quarter. Parallel Advisors LLC now owns 280 shares of the information technology services provider's stock worth $31,000 after purchasing an additional 148 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Science Applications International by 9.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160 shares of the information technology services provider's stock worth $355,000 after purchasing an additional 271 shares during the period. 76.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Science Applications International Price Performance

NYSE SAIC traded down $1.57 during mid-day trading on Monday, hitting $113.24. The stock had a trading volume of 306,390 shares, compared to its average volume of 695,255. The company has a 50 day simple moving average of $111.50 and a 200 day simple moving average of $111.45. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 19.10 and a beta of 0.49. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20. Science Applications International Co. has a 52-week low of $94.68 and a 52-week high of $156.34.

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 business's quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $1.92 EPS. Equities analysts forecast that Science Applications International Co. will post 8.27 EPS for the current fiscal year.

Science Applications International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Friday, July 11th. Science Applications International's dividend payout ratio (DPR) is presently 20.76%.

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.