California State Teachers Retirement System Has $5.52 Million Stock Position in Science Applications International Corporation $SAIC

Key Points

• CalSTRS reduced its SAIC stake by 6.4% in the second quarter, selling 3,398 shares and retaining 50,001 shares valued at approximately $5.52 million. Institutional investors collectively own about 76% of the company.
• SAIC reported quarterly EPS of $3.01, beating expectations of $2.31, while revenue reached $1.88 billion, up 6.3% year over year and above analysts’ estimates.
• The company declared a quarterly dividend of $0.37 per share, representing a 1.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $125.22.

California State Teachers Retirement System trimmed its stake in shares of Science Applications International Corporation (NASDAQ:SAIC - Free Report) by 6.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,001 shares of the company's stock after selling 3,398 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Science Applications International worth $5,520,610 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. HB Wealth Management LLC increased its stake in shares of Science Applications International by 1.2% in the second quarter. HB Wealth Management LLC now owns 18,974 shares of the company's stock worth $2,095,000 after buying an additional 219 shares during the period. Syon Capital LLC bought a new position in shares of Science Applications International in the 2nd quarter worth $250,000. Concurrent Investment Advisors LLC increased its stake in shares of Science Applications International by 5.0% in the second quarter. Concurrent Investment Advisors LLC now owns 5,523 shares of the company's stock worth $610,000 after acquiring an additional 261 shares during the period. Nykredit A S acquired a new stake in Science Applications International in the 2nd quarter worth about $345,000. Finally, Two Sigma Securities LLC purchased a new stake in Science Applications International in the second quarter valued at $212,000. Hedge funds and other institutional investors own 76.00% of the company's stock.

Science Applications International Stock Performance

SAIC stock traded up $3.48 during trading on Tuesday, hitting $135.49. The company had a trading volume of 196,774 shares, compared to its average volume of 571,402. The firm has a market cap of $5.68 billion, a PE ratio of 15.85 and a beta of 0.30. Science Applications International Corporation has a 1-year low of $81.08 and a 1-year high of $142.66. The firm has a 50-day moving average price of $122.22 and a 200-day moving average price of $107.66. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.71.

Science Applications International (NASDAQ:SAIC - Get Free Report) last released its earnings results on Monday, August 31st. The company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.70. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.76 billion. Science Applications International had a net margin of 5.13% and a return on equity of 34.68%. The company's revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.63 EPS. On average, analysts expect that Science Applications International Corporation will post 10.78 earnings per share for the current year.

Science Applications International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 9th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, October 9th. Science Applications International's payout ratio is 17.31%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Weiss Ratings upgraded Science Applications International from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 24th. Jefferies Financial Group upped their price target on shares of Science Applications International from $130.00 to $140.00 and gave the stock a "hold" rating in a research report on Tuesday, September 1st. BNP Paribas Exane started coverage on Science Applications International in a report on Wednesday, May 27th. They set a "neutral" rating and a $95.00 price target for the company. The Goldman Sachs Group upped their target price on Science Applications International from $93.00 to $103.00 and gave the company a "sell" rating in a research report on Tuesday, September 8th. Finally, TD Cowen restated a "hold" rating on shares of Science Applications International in a research report on Monday, August 31st. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $125.22.

About Science Applications International

Science Applications International Corporation (SAIC) is a technology integrator and government services contractor that provides mission-critical solutions to the U.S. government. The company supports defense, intelligence, space, civilian, and federal law enforcement organizations with services designed to improve operational performance, modernize legacy systems, and address complex national security and public-sector challenges.

SAIC's offerings include information technology modernization, cloud computing, cybersecurity, artificial intelligence and data analytics, digital engineering, software development, systems integration, and enterprise IT services.

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