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

Allspring Global Investments Holdings LLC lessened its stake in Science Applications International Co. (NYSE:SAIC) by 47.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,825 shares of the information technology services provider’s stock after selling 7,859 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Science Applications International were worth $1,097,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. FMR LLC raised its position in Science Applications International by 13.2% in the 3rd quarter. FMR LLC now owns 2,823,285 shares of the information technology services provider’s stock worth $297,969,000 after buying an additional 328,426 shares during the last quarter. Assetmark Inc. purchased a new stake in shares of Science Applications International during the 3rd quarter valued at about $19,562,000. Qube Research & Technologies Ltd increased its position in shares of Science Applications International by 3,071.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 134,195 shares of the information technology services provider’s stock valued at $14,163,000 after purchasing an additional 129,963 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Science Applications International by 12,348.8% during the 4th quarter. International Assets Investment Management LLC now owns 91,872 shares of the information technology services provider’s stock valued at $11,422,000 after purchasing an additional 91,134 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Science Applications International during the 3rd quarter valued at about $8,911,000. Hedge funds and other institutional investors own 76.00% of the company’s stock.

Insider Activity at Science Applications International

In other Science Applications International news, EVP Vincent P. Difronzo bought 795 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was purchased at an average cost of $126.04 per share, with a total value of $100,201.80. Following the completion of the acquisition, the executive vice president now owns 8,772 shares in the company, valued at approximately $1,105,622.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Science Applications International news, EVP Vincent P. Difronzo bought 795 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was acquired at an average cost of $126.04 per share, for a total transaction of $100,201.80. Following the completion of the transaction, the executive vice president now owns 8,772 shares in the company, valued at $1,105,622.88. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Toni Townes-Whitley bought 3,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were acquired at an average price of $125.96 per share, with a total value of $377,880.00. Following the completion of the transaction, the chief executive officer now owns 46,795 shares of the company’s stock, valued at approximately $5,894,298.20. The disclosure for this purchase can be found here. 1.29% of the stock is currently owned by insiders.

Science Applications International Trading Up 2.4 %

SAIC stock opened at $128.08 on Wednesday. Science Applications International Co. has a 1-year low of $95.43 and a 1-year high of $145.17. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.98 and a quick ratio of 0.97. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 14.47 and a beta of 0.70. The business has a 50 day simple moving average of $132.92 and a two-hundred day simple moving average of $125.28.

Science Applications International (NYSE:SAIC) last posted its earnings results on Monday, March 18th. The information technology services provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.01). Science Applications International had a net margin of 6.41% and a return on equity of 23.73%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the business posted $2.04 earnings per share. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. Research analysts anticipate that Science Applications International Co. will post 8.11 EPS for the current fiscal year.

Science Applications International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, April 11th. Science Applications International’s dividend payout ratio (DPR) is presently 16.72%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SAIC. JPMorgan Chase & Co. cut their price objective on Science Applications International from $142.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, March 19th. StockNews.com upgraded Science Applications International from a “hold” rating to a “buy” rating in a research note on Wednesday, April 17th. Truist Financial reiterated a “hold” rating and set a $130.00 price objective on shares of Science Applications International in a research note on Friday, April 12th. The Goldman Sachs Group cut their price objective on Science Applications International from $113.00 to $110.00 and set a “sell” rating for the company in a research note on Thursday, February 29th. Finally, Wells Fargo & Company boosted their price objective on Science Applications International from $141.00 to $143.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Science Applications International has a consensus rating of “Hold” and an average price target of $127.60.

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.