Envestnet Asset Management Inc. Acquires 6,137 Shares of Science Applications International Co. (NYSE:SAIC)

Key Points

• Envestnet Asset Management Inc. increased its stake in Science Applications International Co. by 17.5%, owning 41,141 shares worth $4.6 million as of the end of the recent quarter.
• Science Applications International reported an EPS of $1.92, missing expectations by $0.25, while its quarterly revenue increased by 1.6% year-over-year.
• The company announced a quarterly dividend of $0.37 per share, yielding 1.29%, and the dividend payout ratio is currently at 20.76%.

Envestnet Asset Management Inc. lifted its stake in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 17.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,141 shares of the information technology services provider's stock after acquiring an additional 6,137 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.09% of Science Applications International worth $4,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Fifth Third Bancorp lifted its stake in 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 valued at $53,000 after buying an additional 88 shares during the period. Mariner LLC lifted its stake 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 buying an additional 106 shares during the period. Pictet Asset Management Holding SA lifted its stake 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 buying an additional 142 shares during the period. Parallel Advisors LLC increased its holdings in shares of Science Applications International by 112.1% during the first quarter. Parallel Advisors LLC now owns 280 shares of the information technology services provider's stock valued at $31,000 after acquiring an additional 148 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Science Applications International by 9.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160 shares of the information technology services provider's stock valued at $355,000 after acquiring an additional 271 shares in the last quarter. 76.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Science Applications International from $132.00 to $137.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Barclays decreased their price objective on Science Applications International from $115.00 to $105.00 and set an "equal weight" rating for the company in a report on Monday, June 9th. Truist Financial upped their price target on Science Applications International from $100.00 to $110.00 and gave the stock a "hold" rating in a report on Thursday, July 24th. Jefferies Financial Group upped their price target on Science Applications International from $120.00 to $130.00 and gave the stock a "hold" rating in a report on Thursday, May 15th. Finally, UBS Group cut their price objective on 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Science Applications International currently has an average rating of "Hold" and an average price target of $125.64.

Science Applications International Stock Performance

Shares of NYSE SAIC traded up $0.62 during trading on Tuesday, reaching $113.86. 19,485 shares of the stock traded hands, compared to its average volume of 690,461. Science Applications International Co. has a 52-week low of $94.68 and a 52-week high of $156.34. 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 50-day moving average of $111.50 and a 200-day moving average of $111.45. The stock has a market capitalization of $5.34 billion, a P/E ratio of 19.21 and a beta of 0.49.

Science Applications International (NYSE:SAIC - Get Free Report) last issued its quarterly earnings data on Monday, June 2nd. The information technology services provider reported $1.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company's quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.92 EPS. Analysts forecast that Science Applications International Co. will post 8.27 EPS for the current fiscal year.

Science Applications International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, July 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.30%. Science Applications International's dividend payout ratio (DPR) is 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.