Victory Capital Management Inc. Cuts Stock Position 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% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,612 shares of the information technology services provider’s stock after selling 9,254 shares during the period. Victory Capital Management Inc.’s holdings in Science Applications International were worth $2,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in SAIC. Russell Investments Group Ltd. increased its stake in Science Applications International by 22.8% during the 1st 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 in the last quarter. Advisors Asset Management Inc. raised its stake in Science Applications International by 86.2% in the 1st quarter. Advisors Asset Management Inc. now owns 7,515 shares of the information technology services provider’s stock valued at $980,000 after purchasing an additional 3,480 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Science Applications International by 68.5% in the 1st quarter. Lazard Asset Management LLC now owns 2,814 shares of the information technology services provider’s stock valued at $366,000 after purchasing an additional 1,144 shares in the last quarter. Caxton Associates LP acquired a new stake in Science Applications International during the 1st quarter worth $937,000. Finally, Burney Co. raised its position in shares of Science Applications International by 0.9% in the first quarter. Burney Co. now owns 17,686 shares of the information technology services provider’s stock valued at $2,306,000 after buying an additional 166 shares during the last quarter. Institutional investors and hedge funds own 76.00% of the company’s stock.

Science Applications International Trading Down 0.5 %

Shares of SAIC stock opened at $124.20 on Monday. Science Applications International Co. has a 1-year low of $112.00 and a 1-year high of $156.34. The firm has a market cap of $6.15 billion, a PE ratio of 22.34 and a beta of 0.70. The company has a 50-day moving average of $140.79 and a two-hundred day moving average of $130.32. 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 (NYSE:SAIC) last posted 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 net margin of 3.97% and a return on equity of 22.88%. The firm 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 firm earned $2.05 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts predict that Science Applications International Co. will post 8.2 EPS for the current year.

Science Applications International Dividend Announcement

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

Analysts Set New Price Targets

SAIC has been the subject of a number of recent research reports. TD Cowen increased their price objective on shares of Science Applications International from $145.00 to $155.00 and gave the company a “buy” rating in a report on Friday, September 6th. StockNews.com lowered Science Applications International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded 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 research report on Wednesday, October 2nd. Truist Financial upped 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. Finally, Wells Fargo & Company lifted their price target on Science Applications International from $122.00 to $157.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $150.43.

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.