Sovereign s Capital Management LLC Acquires New Shares in Science Applications International Co. (NYSE:SAIC)

Sovereign s Capital Management LLC acquired a new stake in Science Applications International Co. (NYSE:SAIC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,831 shares of the information technology services provider's stock, valued at approximately $428,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Science Applications International by 27.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,186,547 shares of the information technology services provider's stock valued at $244,412,000 after purchasing an additional 464,989 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Science Applications International by 0.3% in the 4th quarter. First Trust Advisors LP now owns 1,218,137 shares of the information technology services provider's stock valued at $136,163,000 after purchasing an additional 3,078 shares in the last quarter. Norges Bank acquired a new position in shares of Science Applications International in the 4th quarter valued at about $63,572,000. Bank of New York Mellon Corp raised its holdings in shares of Science Applications International by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 523,326 shares of the information technology services provider's stock valued at $58,497,000 after buying an additional 31,374 shares during the period. Finally, LSV Asset Management lifted its position in Science Applications International by 3.2% during the 4th quarter. LSV Asset Management now owns 494,156 shares of the information technology services provider's stock worth $55,237,000 after acquiring an additional 15,447 shares in the last quarter. 76.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Toni Townes-Whitley acquired 2,000 shares of Science Applications International stock in a transaction that occurred on Friday, March 28th. The stock was acquired at an average price of $111.67 per share, for a total transaction of $223,340.00. Following the transaction, the chief executive officer now directly owns 45,183 shares of the company's stock, valued at $5,045,585.61. This trade represents a 4.63% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carolyn B. Handlon acquired 230 shares of Science Applications International stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average price of $109.93 per share, with a total value of $25,283.90. Following the transaction, the director now directly owns 4,032 shares in the company, valued at approximately $443,237.76. This trade represents a 6.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 3,260 shares of company stock worth $365,037. 0.44% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on SAIC shares. Truist Financial reduced their price target on Science Applications International from $135.00 to $115.00 and set a "hold" rating on the stock in a research report on Tuesday, March 18th. UBS Group raised their price target on shares of Science Applications International from $123.00 to $126.00 and gave the company a "neutral" rating in a report on Tuesday, March 18th. Cantor Fitzgerald raised shares of Science Applications International to a "hold" rating in a research note on Tuesday, February 25th. Wells Fargo & Company decreased their price objective on shares of Science Applications International from $148.00 to $132.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lowered their target price on Science Applications International from $148.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $131.20.

Science Applications International Stock Down 0.6%

SAIC stock traded down $0.69 during midday trading on Wednesday, hitting $122.45. 464,498 shares of the company's stock were exchanged, compared to its average volume of 508,252. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20. Science Applications International Co. has a 12-month low of $94.68 and a 12-month high of $156.34. The firm has a 50 day moving average price of $116.16 and a 200-day moving average price of $115.30. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 20.65 and a beta of 0.55.

Science Applications International (NYSE:SAIC - Get Free Report) last posted its quarterly earnings data on Monday, March 17th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.57. Science Applications International had a return on equity of 24.18% and a net margin of 4.11%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the business earned $1.43 EPS. Science Applications International's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, analysts anticipate that Science Applications International Co. will post 8.27 EPS for the current year.

Science Applications International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a $0.37 dividend. The ex-dividend date was Friday, April 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.21%. Science Applications International's dividend payout ratio (DPR) is 20.58%.

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.