VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 6,800 Shares of Science Applications International Corporation $SAIC

Key Points

• Virginia Retirement Systems increased its SAIC stake by 25.4% in the third quarter, purchasing 6,800 shares and bringing its holdings to 33,530 shares valued at approximately $4.28 million. Institutional investors and hedge funds own 76% of the company.
• SAIC reported quarterly earnings of $3.01 per share, exceeding estimates of $2.31, while revenue rose 6.3% year over year to $1.88 billion. The company also pays a quarterly dividend of $0.37, representing a 1.0% annualized yield.
• Analyst sentiment remains mixed, with two Buy ratings, eight Holds, and one Sell; the consensus rating is Hold with an average price target of $125.22, below the stock’s stated price of $151.86.

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of Science Applications International Corporation (NASDAQ:SAIC - Free Report) by 25.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,530 shares of the company's stock after buying an additional 6,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.08% of Science Applications International worth $4,277,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SAIC. Choreo LLC lifted its holdings in Science Applications International by 15.3% in the 3rd quarter. Choreo LLC now owns 3,664 shares of the company's stock valued at $467,000 after acquiring an additional 487 shares during the last quarter. Fonville Wealth Management LLC acquired a new stake in Science Applications International during the third quarter valued at approximately $204,000. Pinnacle Wealth Planning Services Inc. lifted its stake in Science Applications International by 2,257.1% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 825 shares of the company's stock valued at $105,000 after purchasing an additional 790 shares during the last quarter. Park Avenue Securities LLC bought a new stake in Science Applications International during the third quarter worth approximately $253,000. Finally, Citizens Financial Group Inc. RI bought a new stake in Science Applications International during the third quarter worth approximately $208,000. 76.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director C. David Cush purchased 1,000 shares of the business's stock in a transaction dated Tuesday, September 22nd. The stock was bought at an average cost of $132.50 per share, with a total value of $132,500.00. Following the purchase, the director directly owned 1,000 shares of the company's stock, valued at approximately $132,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.65% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SAIC shares. TD Cowen reaffirmed a "hold" rating on shares of Science Applications International in a report on Monday, August 31st. Weiss Ratings upgraded Science Applications International from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, October 9th. Wall Street Zen raised shares of Science Applications International from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 27th. UBS Group raised their target price on shares of Science Applications International from $108.00 to $123.00 and gave the stock a "neutral" rating in a report on Tuesday, September 1st. Finally, The Goldman Sachs Group lifted their target price on shares of Science Applications International from $93.00 to $103.00 and gave the stock a "sell" rating in a research report on Tuesday, September 8th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Science Applications International currently has an average rating of "Hold" and an average price target of $125.22.

Science Applications International Price Performance

SAIC opened at $151.86 on Monday. The firm has a market capitalization of $6.36 billion, a P/E ratio of 17.76 and a beta of 0.31. The stock has a fifty day moving average of $132.46 and a 200-day moving average of $110.94. 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 Corporation has a 12-month low of $81.08 and a 12-month high of $154.46.

Science Applications International (NASDAQ:SAIC - Get Free Report) last posted its quarterly earnings results on Monday, August 31st. The company reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.70. Science Applications International had a return on equity of 34.68% and a net margin of 5.13%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the firm earned $3.63 earnings per share. Science Applications International's quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts forecast that Science Applications International Corporation will post 10.77 EPS for the current fiscal year.

Science Applications International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 9th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, October 9th. Science Applications International's dividend payout ratio is currently 17.31%.

Science Applications International Company Profile

Science Applications International Corporation (SAIC) is a technology integrator and professional services company that supports the U.S. government and its missions. The company provides information technology modernization, systems engineering, mission support, enterprise transformation, and program management services to defense, intelligence, space, federal civilian, and national security customers.

SAIC's capabilities include cloud computing, artificial intelligence and machine learning, cybersecurity, software development, data analytics, digital engineering, network modernization, and IT infrastructure management.

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