Merit Financial Group LLC bought a new position in Science Applications International Co. (NYSE:SAIC – Free Report) in the fourth quarter, HoldingsChannel reports. The fund bought 2,185 shares of the information technology services provider’s stock, valued at approximately $244,000.
Several other hedge funds and other institutional investors have also bought and sold shares of SAIC. Envestnet Asset Management Inc. grew its stake in shares of Science Applications International by 12.1% in the second quarter. Envestnet Asset Management Inc. now owns 28,223 shares of the information technology services provider’s stock worth $3,318,000 after acquiring an additional 3,048 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Science Applications International by 12.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,583 shares of the information technology services provider’s stock worth $421,000 after purchasing an additional 383 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Science Applications International during the 2nd quarter valued at $306,000. Bank of Montreal Can lifted its holdings in shares of Science Applications International by 1.2% during the 2nd quarter. Bank of Montreal Can now owns 7,425 shares of the information technology services provider’s stock valued at $878,000 after buying an additional 90 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Science Applications International during the 2nd quarter valued at $909,000. Institutional investors own 76.00% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently commented on the company. The Goldman Sachs Group reduced their price objective on Science Applications International from $124.00 to $103.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. TD Cowen cut shares of Science Applications International from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $155.00 to $120.00 in a research note on Wednesday, January 8th. Wells Fargo & Company dropped their price objective on shares of Science Applications International from $154.00 to $149.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price target on shares of Science Applications International from $170.00 to $148.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Finally, Citigroup lifted their price target on shares of Science Applications International from $160.00 to $176.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $139.38.
Science Applications International Price Performance
Shares of NYSE:SAIC opened at $108.96 on Friday. The company has a market capitalization of $5.33 billion, a P/E ratio of 18.37 and a beta of 0.66. Science Applications International Co. has a 1-year low of $107.59 and a 1-year high of $156.34. The firm’s 50 day simple moving average is $116.39 and its two-hundred day simple moving average is $127.64. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.87 and a quick ratio of 0.87.
Science Applications International Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 10th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, January 10th. Science Applications International’s dividend payout ratio (DPR) is 24.96%.
Insider Buying and Selling
In related news, Director Katharina G. Mcfarland sold 3,239 shares of Science Applications International stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $117.70, for a total transaction of $381,230.30. Following the sale, the director now owns 6,864 shares of the company’s stock, valued at approximately $807,892.80. This trade represents a 32.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Barbara Supplee purchased 425 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average cost of $116.36 per share, for a total transaction of $49,453.00. Following the completion of the acquisition, the executive vice president now owns 3,579 shares in the company, valued at $416,452.44. This represents a 13.47 % increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by insiders.
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.
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