Vestcor Inc Sells 3,074 Shares of Science Applications International Co. (NYSE:SAIC)

Key Points

• Vestcor Inc significantly reduced its stake in Science Applications International Co. by 74.5%, holding only 1,054 shares worth $118,000 after selling 3,074 shares in the first quarter.
• Science Applications International's stock recently traded at $115.18, with a market cap of $5.40 billion, and reported a quarterly earnings miss with an EPS of $1.92.
• The company declared a quarterly dividend of $0.37, representing an annualized dividend of $1.48 and a yield of 1.3%, with a dividend payout ratio of 20.76%.

Vestcor Inc trimmed its holdings in Science Applications International Co. (NYSE:SAIC - Free Report) by 74.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,054 shares of the information technology services provider's stock after selling 3,074 shares during the period. Vestcor Inc's holdings in Science Applications International were worth $118,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Pictet Asset Management Holding SA raised its position in shares of Science Applications International by 2.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 7,029 shares of the information technology services provider's stock valued at $786,000 after acquiring an additional 142 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Science Applications International during the 4th quarter valued at approximately $549,000. Wells Fargo & Company MN increased its position in Science Applications International by 5.1% in the fourth quarter. Wells Fargo & Company MN now owns 59,140 shares of the information technology services provider's stock worth $6,611,000 after buying an additional 2,891 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Science Applications International in the fourth quarter worth $228,000. Finally, Envestnet Asset Management Inc. increased its position in Science Applications International by 10.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 35,004 shares of the information technology services provider's stock worth $3,913,000 after buying an additional 3,222 shares during the period. 76.00% of the stock is owned by institutional investors and hedge funds.

Science Applications International Price Performance

Shares of Science Applications International stock traded down $0.22 during midday trading on Friday, hitting $115.92. 155,422 shares of the company were exchanged, compared to its average volume of 674,132. 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 firm has a market cap of $5.43 billion, a P/E ratio of 19.55 and a beta of 0.49. Science Applications International Co. has a 52 week low of $94.68 and a 52 week high of $156.34. The firm has a 50 day simple moving average of $110.59 and a 200-day simple moving average of $111.36.

Science Applications International (NYSE:SAIC - Get Free Report) last posted its earnings results on Monday, June 2nd. The information technology services provider reported $1.92 EPS for the quarter, missing the consensus estimate 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 business's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.92 EPS. Research analysts forecast that Science Applications International Co. will post 8.27 earnings per share for the current year.

Science Applications International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a $0.37 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.48 annualized dividend and a yield of 1.3%. Science Applications International's payout ratio is presently 20.76%.

Analyst Ratings Changes

Several research firms have recently issued reports on SAIC. Barclays decreased their price target on Science Applications International from $115.00 to $105.00 and set an "equal weight" rating for the company in a research note on Monday, June 9th. Stifel Nicolaus assumed coverage on Science Applications International in a research report on Tuesday, June 24th. They issued a "buy" rating and a $130.00 price target for the company. Wells Fargo & Company increased their price objective on Science Applications International from $132.00 to $137.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. UBS Group cut their price target on Science Applications International from $121.00 to $111.00 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. cut their price target 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 given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Science Applications International presently has an average rating of "Hold" and a consensus price target of $125.64.

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.