Science Applications International Co. $SAIC Shares Acquired by First Trust Advisors LP

Key Points

• First Trust Advisors LP boosted its Q3 position in SAIC by 3.7% to 1,519,046 shares (3.30% ownership), worth about $150.9 million, and institutional investors now hold roughly 76% of the stock.
• Wall Street has a consensus rating of "Hold" with a $116.44 target amid mixed views—three Buys, five Holds and one Sell—including Goldman cutting its target to $82 while Citi raised theirs to $133.
• SAIC beat quarterly EPS expectations ($2.58 vs. $2.07) despite revenue declining 5.6% year-over-year, and CEO James Reagan purchased 1,000 shares at an average price of $100.17.

First Trust Advisors LP boosted its position in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 3.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,519,046 shares of the information technology services provider's stock after buying an additional 53,895 shares during the quarter. First Trust Advisors LP owned 3.30% of Science Applications International worth $150,947,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SAIC. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Science Applications International by 324.1% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 246 shares of the information technology services provider's stock valued at $28,000 after purchasing an additional 188 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Science Applications International in the 3rd quarter worth approximately $29,000. Rakuten Securities Inc. raised its holdings in shares of Science Applications International by 1,915.4% in the 2nd quarter. Rakuten Securities Inc. now owns 262 shares of the information technology services provider's stock worth $30,000 after purchasing an additional 249 shares in the last quarter. True Wealth Design LLC lifted its stake in Science Applications International by 315.5% during the second quarter. True Wealth Design LLC now owns 349 shares of the information technology services provider's stock valued at $39,000 after purchasing an additional 265 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in Science Applications International by 281.1% during the third quarter. Hantz Financial Services Inc. now owns 465 shares of the information technology services provider's stock valued at $46,000 after purchasing an additional 343 shares during the last quarter. 76.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SAIC shares. The Goldman Sachs Group reduced their target price on shares of Science Applications International from $94.00 to $82.00 and set a "sell" rating for the company in a report on Thursday, February 12th. UBS Group increased their price objective on Science Applications International from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Monday, December 8th. JPMorgan Chase & Co. raised their price objective on Science Applications International from $115.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, December 5th. Finally, Citigroup lifted their target price on Science Applications International from $122.00 to $133.00 and gave the stock a "buy" rating in a report on Tuesday, January 13th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Science Applications International presently has a consensus rating of "Hold" and a consensus target price of $116.44.

Science Applications International Stock Performance

Shares of SAIC opened at $95.40 on Friday. The company has a 50-day moving average of $99.42 and a two-hundred day moving average of $99.33. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 16.09 and a beta of 0.31. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.87 and a quick ratio of 0.87. Science Applications International Co. has a one year low of $81.08 and a one year high of $124.11.

Science Applications International (NYSE:SAIC - Get Free Report) last issued its quarterly earnings results on Thursday, December 4th. The information technology services provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.07 by $0.51. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.87 billion. Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The firm's quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.61 EPS. On average, equities research analysts expect that Science Applications International Co. will post 8.27 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO James Reagan acquired 1,000 shares of the stock in a transaction on Tuesday, December 16th. The shares were purchased at an average cost of $100.17 per share, for a total transaction of $100,170.00. Following the transaction, the chief executive officer owned 26,460 shares in the company, valued at approximately $2,650,498.20. This trade represents a 3.93% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.44% of the company's stock.

About Science Applications International

Science Applications International Corp. NYSE: SAIC is an American technology integrator that delivers a broad range of engineering, systems integration and information technology (IT) services primarily to U.S. government clients. Founded in 1969 by J. Robert Beyster, the company has built a reputation for supporting defense, intelligence, federal civilian, health and energy agencies with specialized solutions that address mission-critical requirements. SAIC's offerings span the full lifecycle of complex programs, from concept and design through development, deployment and sustainment.

The company's core capabilities include systems engineering and integration, enterprise IT modernization, cloud computing, cybersecurity, data analytics and artificial intelligence.

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