Science Applications International Co. (NYSE:SAIC) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in shares of Science Applications International Co. (NYSE:SAIC) by 12.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 28,223 shares of the information technology services provider’s stock after purchasing an additional 3,048 shares during the period. Envestnet Asset Management Inc.’s holdings in Science Applications International were worth $3,318,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in shares of Science Applications International by 5.0% in the fourth quarter. Wellington Management Group LLP now owns 4,062,059 shares of the information technology services provider’s stock worth $504,995,000 after buying an additional 194,160 shares during the last quarter. Bank of New York Mellon Corp raised its position in Science Applications International by 4.9% during the second quarter. Bank of New York Mellon Corp now owns 557,299 shares of the information technology services provider’s stock valued at $65,511,000 after acquiring an additional 25,807 shares in the last quarter. American Century Companies Inc. lifted its holdings in Science Applications International by 8.1% in the second quarter. American Century Companies Inc. now owns 378,765 shares of the information technology services provider’s stock valued at $44,524,000 after acquiring an additional 28,304 shares during the period. Van ECK Associates Corp boosted its position in Science Applications International by 122.7% in the 2nd quarter. Van ECK Associates Corp now owns 205,599 shares of the information technology services provider’s stock worth $24,168,000 after purchasing an additional 113,260 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Science Applications International by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 196,064 shares of the information technology services provider’s stock worth $25,565,000 after purchasing an additional 1,715 shares during the period. 76.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Science Applications International news, EVP James Joshua Jackson acquired 400 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was bought at an average price of $114.28 per share, with a total value of $45,712.00. Following the purchase, the executive vice president now owns 13,677 shares in the company, valued at $1,563,007.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP James Joshua Jackson acquired 400 shares of Science Applications International stock in a transaction that occurred on Wednesday, July 10th. The shares were purchased at an average price of $114.28 per share, for a total transaction of $45,712.00. Following the completion of the transaction, the executive vice president now owns 13,677 shares in the company, valued at approximately $1,563,007.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michelle A. O’hara bought 1,000 shares of the company’s stock in a transaction on Friday, July 12th. The stock was bought at an average price of $118.00 per share, with a total value of $118,000.00. Following the completion of the acquisition, the executive vice president now owns 33,497 shares in the company, valued at $3,952,646. The disclosure for this purchase can be found here. Insiders acquired 1,550 shares of company stock worth $184,319 over the last three months. Insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

SAIC has been the subject of several analyst reports. Citigroup boosted their target price on shares of Science Applications International from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Truist Financial increased their target price on shares of Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. upgraded Science Applications International from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $150.00 to $170.00 in a research note on Wednesday. StockNews.com raised Science Applications International from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $146.14.

Science Applications International Trading Up 0.5 %

SAIC stock opened at $144.04 on Friday. Science Applications International Co. has a 12-month low of $104.46 and a 12-month high of $145.17. The business’s 50-day moving average is $130.06 and its 200 day moving average is $126.87. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 16.87 and a beta of 0.70.

Science Applications International (NYSE:SAIC) last released its earnings results on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.19. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the business posted $2.05 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Science Applications International Co. will post 8.17 EPS for the current fiscal year.

Science Applications International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, October 11th. Science Applications International’s payout ratio is 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.