Sumitomo Mitsui Trust Holdings Inc. Purchases New Shares in Science Applications International Co. (NYSE:SAIC)

Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Science Applications International Co. (NYSE:SAIC) during the second quarter, HoldingsChannel reports. The fund acquired 2,266 shares of the information technology services provider’s stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackDiamond Wealth Management LLC lifted its position in shares of Science Applications International by 1.6% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,239 shares of the information technology services provider’s stock worth $668,000 after purchasing an additional 80 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Science Applications International by 0.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 15,000 shares of the information technology services provider’s stock valued at $1,956,000 after buying an additional 100 shares during the period. Parallel Advisors LLC raised its position in shares of Science Applications International by 62.9% during the fourth quarter. Parallel Advisors LLC now owns 259 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Science Applications International by 0.8% during the first quarter. State of Michigan Retirement System now owns 12,755 shares of the information technology services provider’s stock valued at $1,663,000 after acquiring an additional 100 shares during the period. Finally, Oliver Luxxe Assets LLC lifted its stake in shares of Science Applications International by 1.3% during the first quarter. Oliver Luxxe Assets LLC now owns 9,102 shares of the information technology services provider’s stock valued at $1,187,000 after acquiring an additional 119 shares during the period. Institutional investors and hedge funds own 76.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com cut Science Applications International from a “buy” rating to a “hold” rating in a report on Tuesday, June 4th. Truist Financial dropped their price target on shares of Science Applications International from $130.00 to $125.00 and set a “hold” rating for the company in a research note on Tuesday, June 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Science Applications International from $140.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $125.00.

Insider Transactions at Science Applications International

In related news, EVP Vincent P. Difronzo bought 215 shares of the company’s stock in a transaction on Monday, June 24th. The shares were purchased at an average cost of $116.72 per share, for a total transaction of $25,094.80. Following the acquisition, the executive vice president now owns 2,267 shares of the company’s stock, valued at approximately $264,604.24. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Science Applications International news, EVP Vincent P. Difronzo acquired 215 shares of the stock in a transaction dated Monday, June 24th. The shares were bought at an average cost of $116.72 per share, for a total transaction of $25,094.80. Following the completion of the acquisition, the executive vice president now directly owns 2,267 shares of the company’s stock, valued at $264,604.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michelle A. O’hara purchased 1,000 shares of the stock in a transaction on Friday, July 12th. The stock was acquired at an average price of $118.00 per share, for a total transaction of $118,000.00. Following the completion of the purchase, the executive vice president now directly owns 33,497 shares in the company, valued at approximately $3,952,646. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,715 shares of company stock valued at $430,207 over the last 90 days. 0.67% of the stock is owned by company insiders.

Science Applications International Stock Performance

Shares of NYSE:SAIC opened at $129.56 on Friday. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 15.17 and a beta of 0.69. The firm’s 50 day simple moving average is $120.32 and its 200 day simple moving average is $127.46. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.95 and a quick ratio of 0.95. Science Applications International Co. has a fifty-two week low of $104.26 and a fifty-two week high of $145.17.

Science Applications International (NYSE:SAIC) last announced its quarterly earnings results on Monday, June 3rd. The information technology services provider reported $1.92 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.92. Science Applications International had a net margin of 6.28% and a return on equity of 22.56%. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm posted $2.14 earnings per share. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Science Applications International Co. will post 8.1 earnings per share for the current year.

Science Applications International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were issued a $0.37 dividend. The ex-dividend date was Friday, July 12th. This represents a $1.48 annualized dividend and a dividend yield of 1.14%. Science Applications International’s dividend payout ratio (DPR) is currently 17.33%.

Science Applications International Company 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.