Wedge Capital Management L L P NC Sells 6,132 Shares of Science Applications International Co. (NYSE:SAIC)

Wedge Capital Management L L P NC trimmed its position in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,404 shares of the information technology services provider's stock after selling 6,132 shares during the period. Wedge Capital Management L L P NC owned 0.10% of Science Applications International worth $5,547,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Planning Group LLC purchased a new position in shares of Science Applications International in the fourth quarter worth about $28,000. Parallel Advisors LLC boosted its holdings in Science Applications International by 112.1% in the 1st quarter. Parallel Advisors LLC now owns 280 shares of the information technology services provider's stock worth $31,000 after buying an additional 148 shares during the period. True Wealth Design LLC purchased a new position in Science Applications International in the 4th quarter valued at approximately $48,000. Kapitalo Investimentos Ltda purchased a new position in Science Applications International in the 4th quarter valued at approximately $58,000. Finally, UMB Bank n.a. raised its holdings in Science Applications International by 220.1% during the 1st quarter. UMB Bank n.a. now owns 557 shares of the information technology services provider's stock valued at $63,000 after acquiring an additional 383 shares during the period. 76.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Science Applications International news, Director Carolyn B. Handlon acquired 230 shares of the stock in a transaction dated Monday, April 7th. The stock was purchased at an average cost of $109.93 per share, for a total transaction of $25,283.90. Following the acquisition, the director now owns 4,032 shares in the company, valued at $443,237.76. The trade was a 6.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Milford W. Mcguirt bought 500 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average price of $110.58 per share, for a total transaction of $55,290.00. Following the transaction, the director now owns 6,841 shares in the company, valued at $756,477.78. This trade represents a 7.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 3,260 shares of company stock valued at $365,037 over the last 90 days. Insiders own 0.44% of the company's stock.

Science Applications International Price Performance

Shares of SAIC stock traded up $1.11 during trading on Thursday, hitting $104.91. The company had a trading volume of 463,973 shares, compared to its average volume of 536,911. The stock's 50-day moving average is $115.73 and its two-hundred day moving average is $112.45. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 17.69 and a beta of 0.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20. Science Applications International Co. has a 52 week low of $94.68 and a 52 week high of $156.34.

Science Applications International (NYSE:SAIC - Get Free Report) last issued its quarterly 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 return on equity of 24.18% and a net margin of 4.11%. During the same quarter in the prior year, the business posted $1.92 earnings per share. The company's quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts predict that Science Applications International Co. will post 8.27 EPS for the current fiscal year.

Science Applications International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.41%. Science Applications International's payout ratio is 20.76%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SAIC shares. 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 report on Tuesday, June 3rd. Jefferies Financial Group increased their price objective on Science Applications International from $120.00 to $130.00 and gave the stock a "hold" rating in a report on Thursday, May 15th. Truist Financial cut their target price on Science Applications International from $115.00 to $100.00 and set a "hold" rating for the company in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. decreased their price target on 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. Finally, Barclays lowered their price target on shares of Science Applications International from $115.00 to $105.00 and set an "equal weight" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $124.20.

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.