Envestnet Portfolio Solutions Inc. Reduces Stock Holdings in Science Applications International Co. (NYSE:SAIC)

Envestnet Portfolio Solutions Inc. lowered its holdings in Science Applications International Co. (NYSE:SAICFree Report) by 39.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,785 shares of the information technology services provider’s stock after selling 1,174 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Science Applications International were worth $200,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. grew its position in Science Applications International by 27.0% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,186,547 shares of the information technology services provider’s stock worth $244,412,000 after purchasing an additional 464,989 shares during the period. First Trust Advisors LP boosted its stake in shares of Science Applications International by 0.3% in the fourth quarter. First Trust Advisors LP now owns 1,218,137 shares of the information technology services provider’s stock worth $136,163,000 after buying an additional 3,078 shares during the last quarter. Norges Bank acquired a new stake in Science Applications International during the fourth quarter worth about $63,572,000. Bank of New York Mellon Corp raised its position in Science Applications International by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 523,326 shares of the information technology services provider’s stock valued at $58,497,000 after acquiring an additional 31,374 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in Science Applications International by 3.2% in the fourth quarter. LSV Asset Management now owns 494,156 shares of the information technology services provider’s stock valued at $55,237,000 after acquiring an additional 15,447 shares during the period. Hedge funds and other institutional investors own 76.00% of the company’s stock.

Science Applications International Stock Up 3.1%

NYSE SAIC opened at $112.61 on Tuesday. The business has a fifty day moving average price of $113.69 and a 200 day moving average price of $111.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $5.28 billion, a P/E ratio of 18.99 and a beta of 0.50. Science Applications International Co. has a one year low of $94.68 and a one year high of $156.34.

Science Applications International (NYSE:SAICGet Free Report) last posted its quarterly earnings results on Monday, June 2nd. The information technology services provider reported $1.92 earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the company earned $1.92 earnings per share. Science Applications International’s revenue for the quarter was up 1.6% on a year-over-year basis. Research analysts anticipate that Science Applications International Co. will post 8.27 EPS for the current fiscal year.

Science Applications International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be issued a $0.37 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.48 annualized dividend and a dividend yield of 1.31%. Science Applications International’s dividend payout ratio is presently 20.76%.

Wall Street Analyst Weigh In

SAIC has been the topic of a number of analyst reports. Barclays dropped their price objective on shares of Science Applications International from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday, June 9th. Wells Fargo & Company lifted their price objective on shares of Science Applications International from $132.00 to $137.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Stifel Nicolaus assumed coverage on shares of Science Applications International in a research report on Tuesday, June 24th. They issued a “buy” rating and a $130.00 price objective for the company. Truist Financial cut their price target on Science Applications International from $115.00 to $100.00 and set a “hold” rating for the company in a research note on Tuesday, June 3rd. Finally, UBS Group lowered their price target on 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $124.73.

Get Our Latest Stock Analysis on Science Applications International

Insider Buying and Selling

In related news, Director Carolyn B. Handlon bought 230 shares of the company’s stock in a transaction on Monday, April 7th. The stock was bought at an average cost of $109.93 per share, for a total transaction of $25,283.90. Following the acquisition, the director directly owned 4,032 shares in the company, valued at $443,237.76. This represents a 6.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Garth Graham purchased 215 shares of the stock in a transaction dated Monday, April 14th. The shares were purchased at an average cost of $116.75 per share, for a total transaction of $25,101.25. Following the transaction, the director owned 7,159 shares in the company, valued at approximately $835,813.25. The trade was a 3.10% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 660 shares of company stock worth $75,433. 0.44% of the stock is owned by corporate insiders.

About Science Applications International

(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.

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

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