Science Applications International Co. (NYSE:SAIC) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lessened its holdings in shares of Science Applications International Co. (NYSE:SAICGet Rating) by 2.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,155 shares of the information technology services provider’s stock after selling 300 shares during the quarter. State of Michigan Retirement System’s holdings in Science Applications International were worth $1,318,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its position in Science Applications International by 210.7% in the first quarter. Daiwa Securities Group Inc. now owns 63,827 shares of the information technology services provider’s stock valued at $5,883,000 after acquiring an additional 43,285 shares in the last quarter. Mutual of America Capital Management LLC grew its position in Science Applications International by 0.8% in the first quarter. Mutual of America Capital Management LLC now owns 51,925 shares of the information technology services provider’s stock valued at $4,786,000 after acquiring an additional 434 shares in the last quarter. Parsons Capital Management Inc. RI grew its position in Science Applications International by 13.3% in the first quarter. Parsons Capital Management Inc. RI now owns 22,141 shares of the information technology services provider’s stock valued at $2,041,000 after acquiring an additional 2,596 shares in the last quarter. Hohimer Wealth Management LLC grew its position in Science Applications International by 11.6% in the first quarter. Hohimer Wealth Management LLC now owns 24,629 shares of the information technology services provider’s stock valued at $2,270,000 after acquiring an additional 2,551 shares in the last quarter. Finally, abrdn plc purchased a new position in shares of Science Applications International during the 1st quarter valued at approximately $1,514,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Science Applications International in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $105.83.

Science Applications International Stock Performance

SAIC stock opened at $107.13 on Monday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.95 and a current ratio of 1.07. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 23.44 and a beta of 0.75. Science Applications International Co. has a 1 year low of $78.10 and a 1 year high of $113.03. The stock’s fifty day moving average is $97.05 and its two-hundred day moving average is $92.57.

Science Applications International (NYSE:SAICGet Rating) last issued its quarterly earnings results on Thursday, September 1st. The information technology services provider reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.07. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.82 billion. Science Applications International had a return on equity of 24.18% and a net margin of 3.46%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company earned $1.97 earnings per share. On average, research analysts predict that Science Applications International Co. will post 7.11 EPS for the current year.

Science Applications International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, October 14th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, October 13th. Science Applications International’s payout ratio is currently 32.39%.

About Science Applications International

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Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company's offerings include engineering; technology integration; IT modernization; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; 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 cloud migration, managed services, infrastructure modernization, and enterprise IT-as-a-service solutions.

See Also

Institutional Ownership by Quarter for Science Applications International (NYSE:SAIC)

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