1,580 Shares in Science Applications International Co. (NYSE:SAIC) Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc purchased a new position in shares of Science Applications International Co. (NYSE:SAIC) in the third quarter, Holdings Channel reports. The fund purchased 1,580 shares of the information technology services provider’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also bought and sold shares of SAIC. UMB Bank n.a. grew its holdings in Science Applications International by 438.5% during the third quarter. UMB Bank n.a. now owns 210 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 171 shares during the period. Larson Financial Group LLC purchased a new position in shares of Science Applications International during the 2nd quarter valued at approximately $27,000. GAMMA Investing LLC lifted its stake in shares of Science Applications International by 236.0% in the 3rd quarter. GAMMA Investing LLC now owns 289 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 203 shares during the period. Fifth Third Bancorp boosted its holdings in Science Applications International by 30.4% during the second quarter. Fifth Third Bancorp now owns 360 shares of the information technology services provider’s stock worth $42,000 after buying an additional 84 shares in the last quarter. Finally, CWM LLC grew its position in Science Applications International by 56.8% during the second quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 147 shares during the period. 76.00% of the stock is currently owned by institutional investors and hedge funds.

Science Applications International Price Performance

Science Applications International stock opened at $124.20 on Friday. The company has a fifty day simple moving average of $140.79 and a 200-day simple moving average of $130.37. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 22.34 and a beta of 0.70. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. Science Applications International Co. has a 52-week low of $112.00 and a 52-week high of $156.34.

Science Applications International (NYSE:SAIC) last released its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.19. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Science Applications International had a net margin of 3.97% and a return on equity of 22.88%. Science Applications International’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 EPS. On average, equities analysts anticipate that Science Applications International Co. will post 8.2 EPS for the current fiscal year.

Science Applications International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.48 annualized dividend and a dividend yield of 1.19%. Science Applications International’s dividend payout ratio is presently 26.62%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SAIC shares. StockNews.com lowered shares of Science Applications International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. TD Cowen raised their price objective on Science Applications International from $145.00 to $155.00 and gave the company a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. upgraded Science Applications International from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $150.00 to $170.00 in a research report on Wednesday, October 2nd. Citigroup lifted their price target on shares of Science Applications International from $160.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Barclays upped their price objective on shares of Science Applications International from $135.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $150.43.

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.