JPMorgan Chase & Co. Has $22.76 Million Stock Position in Science Applications International Co. (NYSE:SAIC)

JPMorgan Chase & Co. lessened its position in shares of Science Applications International Co. (NYSE:SAIC) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 203,642 shares of the information technology services provider’s stock after selling 10,664 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.42% of Science Applications International worth $22,763,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SAIC. HighTower Advisors LLC boosted its stake in Science Applications International by 11.7% during the third quarter. HighTower Advisors LLC now owns 39,856 shares of the information technology services provider’s stock worth $5,555,000 after buying an additional 4,175 shares in the last quarter. State Street Corp lifted its holdings in shares of Science Applications International by 1.0% during the 3rd quarter. State Street Corp now owns 1,577,757 shares of the information technology services provider’s stock worth $219,734,000 after acquiring an additional 15,166 shares during the period. Geode Capital Management LLC boosted its position in shares of Science Applications International by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 985,105 shares of the information technology services provider’s stock valued at $137,227,000 after acquiring an additional 18,102 shares in the last quarter. Coldstream Capital Management Inc. acquired a new stake in shares of Science Applications International during the 3rd quarter valued at about $249,000. Finally, Arete Wealth Advisors LLC increased its stake in Science Applications International by 42.0% in the third quarter. Arete Wealth Advisors LLC now owns 7,635 shares of the information technology services provider’s stock valued at $1,063,000 after acquiring an additional 2,260 shares during the period. 76.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SAIC shares. TD Cowen downgraded Science Applications International from a “buy” rating to a “hold” rating and decreased their price objective for the company from $155.00 to $120.00 in a report on Wednesday, January 8th. The Goldman Sachs Group cut their target price on Science Applications International from $124.00 to $103.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Truist Financial lowered their price target on Science Applications International from $135.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Cantor Fitzgerald raised Science Applications International to a “hold” rating in a report on Tuesday, February 25th. Finally, StockNews.com upgraded shares of Science Applications International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $132.22.

Science Applications International Stock Up 3.6 %

Shares of NYSE SAIC opened at $112.92 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 19.04 and a beta of 0.58. Science Applications International Co. has a 12-month low of $94.68 and a 12-month high of $156.34. The firm’s 50-day simple moving average is $106.46 and its 200 day simple moving average is $120.11.

Science Applications International (NYSE:SAIC) last released its quarterly earnings results on Monday, March 17th. The information technology services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.00 by $0.57. Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. Science Applications International’s revenue was up 5.8% compared to the same quarter last year. On average, research analysts expect that Science Applications International Co. will post 8.27 earnings per share for the current fiscal year.

Science Applications International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, April 11th. Science Applications International’s dividend payout ratio is 20.58%.

Insiders Place Their Bets

In other news, Director Katharina G. Mcfarland sold 3,239 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $117.70, for a total value of $381,230.30. Following the sale, the director now directly owns 6,864 shares in the company, valued at $807,892.80. The trade was a 32.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carolyn B. Handlon bought 230 shares of the business’s stock in a transaction on Monday, April 7th. The stock was purchased at an average price of $109.93 per share, for a total transaction of $25,283.90. Following the purchase, the director now directly owns 4,032 shares in the company, valued at approximately $443,237.76. This represents a 6.05 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 3,045 shares of company stock valued at $339,935. Company insiders own 0.67% of the company’s stock.

About Science Applications International

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.