Victory Capital Management Inc. Reduces Stake in Science Applications International Co. (NYSE:SAIC)

Victory Capital Management Inc. decreased its holdings in shares of Science Applications International Co. (NYSE:SAIC) by 37.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 15,612 shares of the information technology services provider’s stock after selling 9,254 shares during the quarter. Victory Capital Management Inc.’s holdings in Science Applications International were worth $2,174,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its position in shares of 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 purchasing an additional 84 shares in the last quarter. Cetera Investment Advisers lifted its stake in Science Applications International by 0.5% in the second quarter. Cetera Investment Advisers now owns 19,060 shares of the information technology services provider’s stock valued at $2,240,000 after buying an additional 87 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Science Applications International by 1.2% in the second quarter. Bank of Montreal Can now owns 7,425 shares of the information technology services provider’s stock valued at $878,000 after acquiring an additional 90 shares during the period. CWM LLC grew its position in shares of Science Applications International by 56.8% during the second quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 147 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Science Applications International by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 14,460 shares of the information technology services provider’s stock valued at $1,700,000 after acquiring an additional 152 shares during the period. 76.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SAIC shares. TD Cowen increased their price target on shares of Science Applications International from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Barclays raised their price target on Science Applications International from $135.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. JPMorgan Chase & Co. upgraded Science Applications International from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $150.00 to $170.00 in a research report on Wednesday, October 2nd. StockNews.com cut Science Applications International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial boosted their target price on Science Applications International from $125.00 to $135.00 and gave the company a “hold” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $150.43.

Science Applications International Stock Down 0.5 %

SAIC opened at $124.20 on Monday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. Science Applications International Co. has a 12 month low of $112.00 and a 12 month high of $156.34. The stock has a market capitalization of $6.15 billion, a P/E ratio of 22.34 and a beta of 0.70. The business has a 50 day simple moving average of $140.79 and a 200-day simple moving average of $130.32.

Science Applications International (NYSE:SAIC) last released its earnings results 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. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company earned $2.05 earnings per share. Science Applications International’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Science Applications International Co. will post 8.2 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.37 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.19%. Science Applications International’s dividend payout ratio (DPR) is presently 26.62%.

Science Applications International 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.