Principal Financial Group Inc. Sells 25,342 Shares of Science Applications International Co. (NYSE:SAIC)

Principal Financial Group Inc. decreased its holdings in Science Applications International Co. (NYSE:SAIC) by 12.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 170,722 shares of the information technology services provider’s stock after selling 25,342 shares during the quarter. Principal Financial Group Inc. owned approximately 0.33% of Science Applications International worth $20,068,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Science Applications International by 5.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,404 shares of the information technology services provider’s stock valued at $1,341,000 after purchasing an additional 552 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Science Applications International in the 2nd quarter valued at $1,054,000. Bank of New York Mellon Corp raised its position in Science Applications International by 4.9% in the 2nd 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 purchasing an additional 25,807 shares during the last quarter. Macroview Investment Management LLC bought a new position in Science Applications International in the 2nd quarter valued at $158,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in Science Applications International in the 2nd quarter valued at $203,000. Institutional investors own 76.00% of the company’s stock.

Science Applications International Stock Down 1.9 %

Shares of Science Applications International stock opened at $128.11 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.13. Science Applications International Co. has a 12 month low of $104.26 and a 12 month high of $145.17. The business has a fifty day simple moving average of $122.13 and a 200 day simple moving average of $127.29. The stock has a market cap of $6.56 billion, a PE ratio of 15.00 and a beta of 0.70.

Science Applications International (NYSE:SAIC) last announced its quarterly earnings data on Monday, June 3rd. The information technology services provider reported $1.92 EPS for the quarter, hitting analysts’ consensus estimates of $1.92. Science Applications International had a return on equity of 22.56% and a net margin of 6.28%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the firm earned $2.14 earnings per share. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. Research analysts predict that Science Applications International Co. will post 8.06 EPS for the current year.

Science Applications International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.16%. Science Applications International’s dividend payout ratio (DPR) is presently 17.33%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SAIC. Truist Financial dropped their target price on Science Applications International from $130.00 to $125.00 and set a “hold” rating for the company in a research report on Tuesday, June 4th. StockNews.com downgraded Science Applications International from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th. Finally, JPMorgan Chase & Co. dropped their target price on Science Applications International from $140.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, Science Applications International presently has an average rating of “Hold” and a consensus target price of $125.00.

Insider Buying and Selling

In related news, EVP Vincent P. Difronzo acquired 215 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was acquired at an average cost of $116.72 per share, with a total value of $25,094.80. Following the completion of the purchase, the executive vice president now directly owns 2,267 shares in the company, valued at $264,604.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Science Applications International news, EVP Vincent P. Difronzo bought 215 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was purchased at an average cost of $116.72 per share, with a total value of $25,094.80. Following the completion of the purchase, the executive vice president now owns 2,267 shares in the company, valued at $264,604.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michelle A. O’hara bought 1,000 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was acquired at an average cost of $118.00 per share, with a total value of $118,000.00. Following the completion of the purchase, the executive vice president now owns 33,497 shares of the company’s stock, valued at approximately $3,952,646. The disclosure for this purchase can be found here. Insiders purchased a total of 3,715 shares of company stock valued at $430,207 over the last three months. Company insiders own 0.67% of the company’s stock.

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.