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

Posted by Defense World Staff on Jul 8th, 2023

Allspring Global Investments Holdings LLC raised its position in shares of Science Applications International Co. (NYSE:SAIC – Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,473 shares of the information technology services provider’s stock after acquiring an additional 335 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Science Applications International were worth $1,878,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SAIC. Global Wealth Strategies & Associates purchased a new stake in Science Applications International during the fourth quarter valued at about $46,000. Fiduciary Alliance LLC acquired a new position in shares of Science Applications International during the fourth quarter worth about $55,000. WFA of San Diego LLC acquired a new position in shares of Science Applications International during the fourth quarter worth about $55,000. Ruedi Wealth Management Inc. acquired a new position in shares of Science Applications International during the fourth quarter worth about $56,000. Finally, Atlas Capital Advisors LLC acquired a new position in shares of Science Applications International during the second quarter worth about $66,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SAIC. StockNews.com cut Science Applications International from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 2nd. Stifel Nicolaus boosted their price objective on Science Applications International from $110.00 to $112.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. Citigroup reduced their price objective on Science Applications International from $141.00 to $127.00 and set a “buy” rating on the stock in a research note on Tuesday, April 4th. The Goldman Sachs Group boosted their price target on Science Applications International from $90.00 to $97.00 and gave the stock a “sell” rating in a research note on Wednesday, April 5th. Finally, Truist Financial cut their price target on Science Applications International from $120.00 to $115.00 in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $113.29.

Insider Buying and Selling at Science Applications International

In other Science Applications International news, Director Katharina G. Mcfarland sold 1,193 shares of the company’s stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $108.48, for a total transaction of $129,416.64. Following the sale, the director now owns 7,813 shares in the company, valued at $847,554.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Katharina G. Mcfarland sold 1,193 shares of the company’s stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $108.48, for a total transaction of $129,416.64. Following the completion of the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at $847,554.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael W. Larouche sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $107.19, for a total value of $643,140.00. Following the transaction, the insider now directly owns 49,192 shares of the company’s stock, valued at $5,272,890.48. The disclosure for this sale can be found here. Insiders have sold 36,430 shares of company stock worth $3,912,723 over the last quarter. 1.29% of the stock is owned by corporate insiders.

Science Applications International Trading Up 0.2 %

Shares of NYSE SAIC opened at $112.96 on Friday. The stock’s 50 day moving average price is $103.89 and its two-hundred day moving average price is $105.35. Science Applications International Co. has a 52-week low of $87.93 and a 52-week high of $117.94. The stock has a market capitalization of $6.06 billion, a P/E ratio of 19.21 and a beta of 0.74. The company has a quick ratio of 1.03, a current ratio of 1.08 and a debt-to-equity ratio of 1.38.

Science Applications International (NYSE:SAIC – Free Report) last announced its quarterly earnings data on Monday, June 5th. The information technology services provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.31. Science Applications International had a return on equity of 25.68% and a net margin of 4.20%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the firm posted $1.88 earnings per share. Science Applications International’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts anticipate that Science Applications International Co. will post 7.11 earnings per share for the current fiscal year.

Science Applications International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.31%. The ex-dividend date is Thursday, July 13th. Science Applications International’s payout ratio is currently 25.17%.

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 engineering; technology integration; IT modernization; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; 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 cloud migration, managed services, infrastructure modernization, and enterprise IT-as-a-service solutions; and data management platform solutions.