Virtu Financial LLC Invests $900,000 in Science Applications International Co. (NYSE:SAIC)

Key Points

• Virtu Financial LLC invested approximately $900,000 in Science Applications International Co., acquiring 8,019 shares of the company in the first quarter.
• Research analysts have mixed ratings for SAIC, with one sell rating, six hold ratings, four buy ratings, and a consensus target price of $125.64.
• Science Applications International recently declared a quarterly dividend of $0.37 per share, representing an annualized dividend yield of 1.3%.

Virtu Financial LLC bought a new position in shares of Science Applications International Co. (NYSE:SAIC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,019 shares of the information technology services provider's stock, valued at approximately $900,000.

A number of other large investors have also modified their holdings of the business. Fifth Third Bancorp grew its holdings in shares of Science Applications International by 22.7% during the first quarter. Fifth Third Bancorp now owns 475 shares of the information technology services provider's stock worth $53,000 after buying an additional 88 shares in the last quarter. US Bancorp DE grew its holdings in shares of Science Applications International by 38.5% during the first quarter. US Bancorp DE now owns 324 shares of the information technology services provider's stock worth $36,000 after buying an additional 90 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Science Applications International by 43.2% during the first quarter. Larson Financial Group LLC now owns 325 shares of the information technology services provider's stock worth $36,000 after buying an additional 98 shares in the last quarter. Mariner LLC grew its holdings in shares of Science Applications International by 2.8% during the fourth quarter. Mariner LLC now owns 3,875 shares of the information technology services provider's stock worth $433,000 after buying an additional 106 shares in the last quarter. Finally, Wealthspire Advisors LLC grew its holdings in shares of Science Applications International by 6.7% during the first quarter. Wealthspire Advisors LLC now owns 1,946 shares of the information technology services provider's stock worth $218,000 after buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 76.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SAIC shares. Truist Financial boosted their price target on shares of Science Applications International from $100.00 to $110.00 and gave the company a "hold" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. lowered their price target on shares of Science Applications International from $148.00 to $140.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Jefferies Financial Group boosted their price target on shares of Science Applications International from $120.00 to $130.00 and gave the company a "hold" rating in a research report on Thursday, May 15th. UBS Group lowered their price target on shares of Science Applications International from $121.00 to $111.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 3rd. Finally, Stifel Nicolaus started coverage on shares of Science Applications International in a research report on Tuesday, June 24th. They set a "buy" rating and a $130.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Science Applications International has a consensus rating of "Hold" and a consensus target price of $125.64.

Science Applications International Trading Up 1.2%

NYSE SAIC opened at $117.23 on Wednesday. The firm's 50-day moving average is $111.23 and its two-hundred day moving average is $111.37. Science Applications International Co. has a 12 month low of $94.68 and a 12 month high of $156.34. 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 stock has a market capitalization of $5.49 billion, a P/E ratio of 19.77 and a beta of 0.49.

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 analysts' consensus estimates of $2.17 by ($0.25). Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.92 earnings per share. On average, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, July 11th. Science Applications International's dividend payout ratio is currently 20.76%.

About Science Applications International

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.

Want to see what other hedge funds are holding SAIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Science Applications International Co. (NYSE:SAIC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.