Envestnet Asset Management Inc. Buys 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. grew its holdings in Science Applications International Co. (NYSE:SAIC - Free Report) by 17.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,141 shares of the information technology services provider's stock after purchasing an additional 6,137 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of Science Applications International worth $4,619,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Science Applications International by 9.4% in 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 buying an additional 271 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of Science Applications International during the 1st quarter worth approximately $204,000. SG Americas Securities LLC increased its position in shares of Science Applications International by 19.4% during the first quarter. SG Americas Securities LLC now owns 4,508 shares of the information technology services provider's stock valued at $506,000 after purchasing an additional 732 shares during the period. GAMMA Investing LLC raised its stake in shares of Science Applications International by 96.8% in the first quarter. GAMMA Investing LLC now owns 614 shares of the information technology services provider's stock valued at $69,000 after purchasing an additional 302 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Science Applications International in the fourth quarter worth $1,414,000. 76.00% of the stock is owned by institutional investors and hedge funds.

Science Applications International Price Performance

Shares of NYSE SAIC traded down $0.18 during mid-day trading on Friday, hitting $114.81. 313,062 shares of the stock were exchanged, compared to its average volume of 698,033. The company has a market cap of $5.38 billion, a P/E ratio of 19.36 and a beta of 0.49. The stock's fifty day simple moving average is $111.69 and its two-hundred day simple moving average is $111.51. 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 Co. has a twelve month low of $94.68 and a twelve month high of $156.34.

Science Applications International (NYSE:SAIC - Get Free Report) last issued its quarterly earnings results on Monday, June 2nd. The information technology services provider reported $1.92 earnings per share 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 revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Friday, July 11th. Science Applications International's dividend payout ratio is currently 20.76%.

Wall Street Analyst Weigh In

SAIC has been the topic of several analyst reports. Barclays lowered their price target on shares of Science Applications International from $115.00 to $105.00 and set an "equal weight" rating on the stock in a report on Monday, June 9th. Jefferies Financial Group increased their price target on shares of Science Applications International from $120.00 to $130.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. dropped their price target on shares of Science Applications International from $148.00 to $140.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company increased their price target on shares of Science Applications International from $132.00 to $137.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Finally, UBS Group dropped 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average 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.