Janney Montgomery Scott LLC Sells 2,989 Shares of Science Applications International Co. (NYSE:SAIC)

Janney Montgomery Scott LLC cut its holdings in shares of Science Applications International Co. (NYSE:SAIC) by 15.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,553 shares of the information technology services provider’s stock after selling 2,989 shares during the period. Janney Montgomery Scott LLC’s holdings in Science Applications International were worth $2,305,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. UMB Bank n.a. increased its holdings in Science Applications International by 438.5% in the 3rd quarter. UMB Bank n.a. now owns 210 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 171 shares in the last quarter. Larson Financial Group LLC acquired a new position in shares of Science Applications International during the second quarter worth approximately $27,000. GAMMA Investing LLC grew its holdings in shares of Science Applications International by 236.0% during the third quarter. GAMMA Investing LLC now owns 289 shares of the information technology services provider’s stock valued at $40,000 after buying an additional 203 shares during the last quarter. Fifth Third Bancorp increased its holdings in Science Applications International by 30.4% during the 2nd 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. Finally, CWM LLC grew its holdings in 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 buying an additional 147 shares in the last quarter. Institutional investors and hedge funds own 76.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Science Applications International Stock Performance

Science Applications International stock opened at $153.33 on Wednesday. Science Applications International Co. has a fifty-two week low of $112.00 and a fifty-two week high of $156.34. The stock’s 50 day simple moving average is $141.58 and its two-hundred day simple moving average is $130.46. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 27.72 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 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.19. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 earnings per share. As a group, analysts expect that Science Applications International Co. will post 8.2 earnings per share for the current fiscal year.

Science Applications International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.48 dividend on an annualized basis and a yield of 0.97%. Science Applications International’s dividend payout ratio (DPR) is currently 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.