Science Applications International Co. (NYSE:SAIC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in Science Applications International Co. (NYSE:SAIC) by 30.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,567 shares of the information technology services provider’s stock after selling 52,155 shares during the period. Principal Financial Group Inc.’s holdings in Science Applications International were worth $16,513,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sei Investments Co. increased its position in shares of Science Applications International by 53.9% during the 1st quarter. Sei Investments Co. now owns 86,541 shares of the information technology services provider’s stock worth $11,284,000 after purchasing an additional 30,325 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Science Applications International by 22.8% during the first quarter. Russell Investments Group Ltd. now owns 10,146 shares of the information technology services provider’s stock worth $1,323,000 after buying an additional 1,884 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Science Applications International by 1.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 54,717 shares of the information technology services provider’s stock valued at $7,135,000 after acquiring an additional 647 shares during the last quarter. Twin Tree Management LP purchased a new stake in shares of Science Applications International in the 1st quarter valued at approximately $649,000. Finally, Natixis acquired a new position in shares of Science Applications International in the 1st quarter worth approximately $678,000. Institutional investors and hedge funds own 76.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SAIC shares. Truist Financial lifted their target price on shares of Science Applications International from $125.00 to $135.00 and gave the company a “hold” rating in a report on Friday, September 6th. Citigroup lifted their price objective on Science Applications International from $160.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. raised Science Applications International from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $150.00 to $170.00 in a research note on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on Science Applications International from $122.00 to $157.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Finally, Barclays increased their price target 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Science Applications International presently has an average rating of “Hold” and an average price target of $150.43.

Science Applications International Price Performance

Shares of NYSE SAIC opened at $122.40 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 21.74 and a beta of 0.70. The stock’s 50-day moving average is $142.27 and its two-hundred day moving average is $130.71. Science Applications International Co. has a 1-year low of $112.00 and a 1-year high of $156.34.

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, topping analysts’ consensus estimates of $1.86 by $0.19. Science Applications International had a net margin of 3.97% and a return on equity of 22.88%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts forecast that Science Applications International Co. will post 8.2 EPS for the current fiscal year.

Science Applications International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Friday, October 11th. Science Applications International’s dividend payout ratio (DPR) is 26.62%.

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.