Envestnet Portfolio Solutions Inc. Acquires 1,425 Shares of Science Applications International Co. (NYSE:SAIC)

Envestnet Portfolio Solutions Inc. boosted its holdings in Science Applications International Co. (NYSE:SAIC) by 92.9% during the fourth quarter, Holdings Channel reports. The fund owned 2,959 shares of the information technology services provider’s stock after purchasing an additional 1,425 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Science Applications International were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its position in Science Applications International by 1.0% during the third quarter. State Street Corp now owns 1,577,757 shares of the information technology services provider’s stock worth $219,734,000 after acquiring an additional 15,166 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Science Applications International by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 985,105 shares of the information technology services provider’s stock worth $137,227,000 after purchasing an additional 18,102 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Science Applications International by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 523,326 shares of the information technology services provider’s stock valued at $58,497,000 after purchasing an additional 31,374 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Science Applications International by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 518,915 shares of the information technology services provider’s stock valued at $72,269,000 after buying an additional 6,780 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Science Applications International by 30.4% during the 4th quarter. Van ECK Associates Corp now owns 326,793 shares of the information technology services provider’s stock worth $36,529,000 after buying an additional 76,204 shares during the period. Institutional investors and hedge funds own 76.00% of the company’s stock.

Analysts Set New Price Targets

SAIC has been the subject of a number of recent research reports. UBS Group boosted their target price on shares of Science Applications International from $123.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, March 18th. The Goldman Sachs Group cut their price objective on shares of Science Applications International from $124.00 to $103.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Truist Financial lowered their target price on shares of Science Applications International from $135.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Wells Fargo & Company boosted their price target on Science Applications International from $139.00 to $148.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. lowered their price objective on Science Applications International from $170.00 to $148.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Science Applications International presently has an average rating of “Hold” and an average price target of $134.00.

Science Applications International Stock Up 1.6 %

NYSE SAIC opened at $111.36 on Friday. Science Applications International Co. has a fifty-two week low of $94.68 and a fifty-two week high of $156.34. The business has a fifty day moving average price of $106.43 and a two-hundred day moving average price of $121.90. 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 $5.32 billion, a PE ratio of 18.78 and a beta of 0.66.

Science Applications International (NYSE:SAIC) last released its earnings results on Monday, March 17th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.57. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Science Applications International had a return on equity of 24.18% and a net margin of 4.11%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.43 earnings per share. Equities analysts expect that Science Applications International Co. will post 8.27 earnings per share for the current fiscal year.

Science Applications International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Friday, April 11th. Science Applications International’s dividend payout ratio is 20.58%.

Insider Activity at Science Applications International

In related news, Director Katharina G. Mcfarland sold 3,239 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $117.70, for a total value of $381,230.30. Following the completion of the transaction, the director now owns 6,864 shares in the company, valued at $807,892.80. This trade represents a 32.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Milford W. Mcguirt bought 500 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average price of $110.58 per share, for a total transaction of $55,290.00. Following the completion of 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. 0.67% of the stock is owned by insiders.

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.