Bank of New York Mellon Corp Sells 65,223 Shares of Science Applications International Co. (NYSE:SAIC)

Bank of New York Mellon Corp decreased its position in shares of Science Applications International Co. (NYSE:SAIC – Get Rating) by 9.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 629,032 shares of the information technology services provider’s stock after selling 65,223 shares during the period. Bank of New York Mellon Corp owned approximately 1.14% of Science Applications International worth $55,624,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Redwood Investment Management LLC acquired a new stake in shares of Science Applications International during the 3rd quarter worth $1,266,000. Royal Bank of Canada boosted its stake in Science Applications International by 2.4% in the third quarter. Royal Bank of Canada now owns 16,857 shares of the information technology services provider’s stock valued at $1,489,000 after buying an additional 399 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Science Applications International in the third quarter valued at about $7,548,000. Ergoteles LLC boosted its stake in Science Applications International by 454.9% in the third quarter. Ergoteles LLC now owns 19,388 shares of the information technology services provider’s stock valued at $1,714,000 after buying an additional 15,894 shares in the last quarter. Finally, MML Investors Services LLC acquired a new stake in Science Applications International in the third quarter valued at about $307,000. Institutional investors own 76.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SAIC. Morgan Stanley lowered Science Applications International from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $108.00 to $114.00 in a research note on Tuesday, January 3rd. Wells Fargo & Company increased their target price on Science Applications International from $99.00 to $121.00 in a research report on Tuesday, December 6th. StockNews.com downgraded Science Applications International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Jefferies Financial Group downgraded Science Applications International from a “buy” rating to a “hold” rating and set a $110.00 target price for the company. in a research report on Thursday, November 17th. Finally, Truist Financial increased their target price on Science Applications International from $105.00 to $120.00 in a research report on Tuesday, December 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Science Applications International has a consensus rating of “Hold” and a consensus target price of $114.50.

Science Applications International Trading Down 1.1 %

Shares of Science Applications International stock opened at $104.89 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.90 and a current ratio of 1.01. Science Applications International Co. has a 52 week low of $79.33 and a 52 week high of $117.94. The stock has a 50 day moving average price of $106.06 and a two-hundred day moving average price of $102.91. The stock has a market capitalization of $5.73 billion, a PE ratio of 21.85 and a beta of 0.69.

Science Applications International (NYSE:SAIC – Get Rating) last announced its quarterly earnings data on Monday, December 5th. The information technology services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.16. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Science Applications International had a return on equity of 23.84% and a net margin of 3.58%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.85 earnings per share. As a group, equities analysts anticipate that Science Applications International Co. will post 7.16 earnings per share for the current fiscal year.

Science Applications International Profile

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Science Applications International Corp. is a provider of technical, engineering and enterprise information technology (IT) services. Its offerings include engineering, systems integration and information technology offerings for large, complex government projects and offer a broad range of services with a targeted emphasis on higher end, differentiated technology services, and end-to-end services spanning the entire spectrum of its customers IT infrastructure.