Allspring Global Investments Holdings LLC Increases Stake in Science Applications International Co. (NYSE:SAIC)

Allspring Global Investments Holdings LLC boosted its position in shares of Science Applications International Co. (NYSE:SAIC) by 60.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,536 shares of the information technology services provider’s stock after acquiring an additional 11,512 shares during the period. Allspring Global Investments Holdings LLC owned about 0.06% of Science Applications International worth $4,253,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Larson Financial Group LLC purchased a new position in Science Applications International during the 2nd quarter worth $27,000. UMB Bank n.a. boosted its position in shares of Science Applications International by 438.5% in the third quarter. UMB Bank n.a. now owns 210 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 171 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Science Applications International by 236.0% in the third quarter. GAMMA Investing LLC now owns 289 shares of the information technology services provider’s stock worth $40,000 after acquiring an additional 203 shares during the last quarter. Fifth Third Bancorp raised its holdings in Science Applications International by 30.4% in the second quarter. Fifth Third Bancorp now owns 360 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 84 shares during the period. Finally, CWM LLC raised its holdings in Science Applications International by 56.8% in the second quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 147 shares during the period. Institutional investors and hedge funds own 76.00% of the company’s stock.

Science Applications International Price Performance

Shares of Science Applications International stock opened at $144.83 on Tuesday. 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 company’s 50-day moving average price is $137.64 and its two-hundred day moving average price is $128.85. Science Applications International Co. has a 52 week low of $106.59 and a 52 week high of $148.65. The stock has a market cap of $7.17 billion, a PE ratio of 26.05 and a beta of 0.70.

Science Applications International (NYSE:SAIC) last issued its quarterly earnings results on Thursday, September 5th. The information technology services provider reported $2.05 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.80 billion. During the same period in the previous year, the business earned $2.05 earnings per share. Science Applications International’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Science Applications International Co. will post 8.2 EPS for the current fiscal year.

Science Applications International Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.48 annualized dividend and a yield of 1.02%. Science Applications International’s payout ratio is presently 26.62%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SAIC. Barclays lifted their price objective on shares of Science Applications International from $135.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. raised shares of Science Applications International from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $150.00 to $170.00 in a report on Wednesday, October 2nd. Citigroup boosted their price target on shares of Science Applications International from $160.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, October 10th. StockNews.com downgraded shares of Science Applications International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, TD Cowen lifted their price objective on shares of Science Applications International from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Science Applications International presently has a consensus rating of “Hold” and a consensus price target of $150.43.

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.