Bank of Nova Scotia Cuts Stock Position in Science Applications International Co. (NYSE:SAIC)

Bank of Nova Scotia trimmed its position in shares of Science Applications International Co. (NYSE:SAICFree Report) by 8.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,407 shares of the information technology services provider’s stock after selling 302 shares during the quarter. Bank of Nova Scotia’s holdings in Science Applications International were worth $424,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Contravisory Investment Management Inc. purchased a new position in shares of Science Applications International in the fourth quarter valued at approximately $25,000. CVA Family Office LLC purchased a new position in Science Applications International in the 4th quarter valued at approximately $26,000. Parallel Advisors LLC grew its stake in shares of Science Applications International by 62.9% in the fourth quarter. Parallel Advisors LLC now owns 259 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in shares of Science Applications International by 92.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 433 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 208 shares during the period. Finally, Community Bank N.A. acquired a new stake in shares of Science Applications International in the fourth quarter valued at $66,000. 76.00% of the stock is owned by institutional investors and hedge funds.

Science Applications International Trading Down 0.9 %

NYSE SAIC opened at $115.70 on Friday. The firm’s fifty day moving average price is $129.73 and its 200 day moving average price is $129.72. Science Applications International Co. has a 12 month low of $102.61 and a 12 month high of $145.17. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.95 and a quick ratio of 0.97. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 13.55 and a beta of 0.73.

Science Applications International (NYSE:SAICGet Free Report) last posted its earnings results on Monday, June 3rd. The information technology services provider reported $1.92 EPS for the quarter, hitting analysts’ consensus estimates of $1.92. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Science Applications International had a return on equity of 22.56% and a net margin of 6.28%. The business’s revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.14 earnings per share. On average, sell-side analysts expect that Science Applications International Co. will post 8.11 earnings per share for the current fiscal year.

Science Applications International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be issued a $0.37 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.28%. Science Applications International’s payout ratio is 17.33%.

Wall Street Analyst Weigh In

SAIC has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Science Applications International from $141.00 to $143.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. lowered their price target on shares of Science Applications International from $142.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, March 19th. StockNews.com downgraded shares of Science Applications International from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. Truist Financial cut their price target on Science Applications International from $130.00 to $125.00 and set a “hold” rating on the stock in a research note on Tuesday, June 4th. Finally, The Goldman Sachs Group lowered their price objective on Science Applications International from $113.00 to $110.00 and set a “sell” rating for the company in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $126.60.

Get Our Latest Stock Analysis on SAIC

Insider Activity at Science Applications International

In other Science Applications International news, EVP Vincent P. Difronzo acquired 795 shares of the company’s stock in a transaction on Friday, April 12th. The shares were bought at an average cost of $126.04 per share, for a total transaction of $100,201.80. Following the completion of the purchase, the executive vice president now owns 8,772 shares in the company, valued at approximately $1,105,622.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Vincent P. Difronzo purchased 795 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were purchased at an average price of $126.04 per share, with a total value of $100,201.80. Following the completion of the acquisition, the executive vice president now directly owns 8,772 shares in the company, valued at approximately $1,105,622.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Katharina G. Mcfarland sold 760 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $125.64, for a total value of $95,486.40. Following the completion of the transaction, the director now owns 8,653 shares in the company, valued at approximately $1,087,162.92. The disclosure for this sale can be found here. 0.67% of the stock is owned by insiders.

Science Applications International Company Profile

(Free Report)

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.

Further Reading

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

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