Ritholtz Wealth Management Trims Position in Science Applications International Co. (NYSE:SAIC)

Ritholtz Wealth Management trimmed its holdings in Science Applications International Co. (NYSE:SAIC) by 42.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,301 shares of the information technology services provider’s stock after selling 1,720 shares during the period. Ritholtz Wealth Management’s holdings in Science Applications International were worth $258,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SAIC. Parallel Advisors LLC increased its stake in shares of Science Applications International by 112.1% during the first quarter. Parallel Advisors LLC now owns 280 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 148 shares during the period. True Wealth Design LLC acquired a new position in shares of Science Applications International during the fourth quarter worth about $48,000. Fifth Third Bancorp increased its stake in shares of Science Applications International by 22.7% during the first quarter. Fifth Third Bancorp now owns 475 shares of the information technology services provider’s stock worth $53,000 after acquiring an additional 88 shares during the period. Kapitalo Investimentos Ltda acquired a new position in shares of Science Applications International during the fourth quarter worth about $58,000. Finally, UMB Bank n.a. increased its stake in shares of Science Applications International by 220.1% during the first quarter. UMB Bank n.a. now owns 557 shares of the information technology services provider’s stock worth $63,000 after acquiring an additional 383 shares during the period. 76.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Milford W. Mcguirt purchased 500 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were bought at an average price of $110.58 per share, with a total value of $55,290.00. Following the completion of the purchase, the director now directly owns 6,841 shares in the company, valued at approximately $756,477.78. This trade represents a 7.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Garth Graham purchased 215 shares of the business’s stock in a transaction on Monday, April 14th. The shares were bought at an average cost of $116.75 per share, for a total transaction of $25,101.25. Following the purchase, the director now owns 7,159 shares of the company’s stock, valued at $835,813.25. This trade represents a 3.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 3,260 shares of company stock worth $365,037. 0.67% of the stock is owned by insiders.

Science Applications International Stock Down 1.0%

Shares of NYSE SAIC opened at $103.65 on Friday. Science Applications International Co. has a 1 year low of $94.68 and a 1 year high of $156.34. The firm’s 50 day moving average price is $114.76 and its 200 day moving average price is $111.55. The firm has a market cap of $4.86 billion, a P/E ratio of 17.48 and a beta of 0.50. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87.

Science Applications International (NYSE:SAIC) last announced its earnings results on Monday, June 2nd. The information technology services provider reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.25). Science Applications International had a return on equity of 24.18% and a net margin of 4.11%. During the same quarter last year, the business posted $1.92 EPS. Science Applications International’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Science Applications International Co. will post 8.27 earnings per share for the current year.

Science Applications International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, July 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.43%. Science Applications International’s dividend payout ratio (DPR) is currently 20.76%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SAIC. Jefferies Financial Group boosted their price target on shares of Science Applications International from $120.00 to $130.00 and gave the stock a “hold” rating in a research note on Thursday, May 15th. Wells Fargo & Company upped their target price on shares of Science Applications International from $132.00 to $137.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. UBS Group lowered their target price on shares of Science Applications International from $121.00 to $111.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 3rd. Barclays lowered their target price on shares of Science Applications International from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday, June 9th. Finally, Cantor Fitzgerald upgraded shares of Science Applications International to a “hold” rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $124.20.

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.