Hoylecohen LLC Reduces Stake in Science Applications International Co. (NYSE:SAIC)

Hoylecohen LLC decreased its holdings in shares of Science Applications International Co. (NYSE:SAIC) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,024 shares of the information technology services provider’s stock after selling 122 shares during the quarter. Hoylecohen LLC’s holdings in Science Applications International were worth $238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its position in shares of Science Applications International by 62.9% in the 4th quarter. Parallel Advisors LLC now owns 259 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 100 shares during the period. CWM LLC grew its position in shares of Science Applications International by 56.8% during the second quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 147 shares during the last quarter. FinTrust Capital Advisors LLC grew its position in shares of Science Applications International by 150.3% during the first quarter. FinTrust Capital Advisors LLC now owns 473 shares of the information technology services provider’s stock worth $62,000 after acquiring an additional 284 shares during the last quarter. Community Bank N.A. purchased a new stake in Science Applications International in the 4th quarter valued at $66,000. Finally, EntryPoint Capital LLC raised its position in Science Applications International by 1,712.9% in the 1st quarter. EntryPoint Capital LLC now owns 562 shares of the information technology services provider’s stock valued at $73,000 after purchasing an additional 531 shares during the last quarter. 76.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SAIC. StockNews.com lowered shares of Science Applications International from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. reduced their price objective on Science Applications International from $140.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Truist Financial lowered their target price 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. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $125.00.

Science Applications International Stock Performance

Shares of SAIC stock traded down $0.04 during trading hours on Friday, reaching $125.05. 136,088 shares of the company’s stock were exchanged, compared to its average volume of 257,858. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.95 and a quick ratio of 0.95. Science Applications International Co. has a 1 year low of $104.26 and a 1 year high of $145.17. The company has a market cap of $6.41 billion, a P/E ratio of 16.16 and a beta of 0.69. The company’s 50 day moving average is $119.18 and its two-hundred day moving average is $127.50.

Science Applications International (NYSE:SAIC) last released its quarterly earnings data on Monday, June 3rd. The information technology services provider reported $1.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.92. The firm had revenue of $1.85 billion during 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%. Science Applications International’s revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.14 earnings per share. Equities research analysts anticipate that Science Applications International Co. will post 8.1 EPS for the current fiscal year.

Science Applications International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.48 annualized dividend and a yield of 1.18%. Science Applications International’s payout ratio is currently 17.33%.

Insider Buying and Selling at Science Applications International

In other news, EVP James Joshua Jackson acquired 400 shares of Science Applications International stock in a transaction that occurred on Wednesday, July 10th. The stock was purchased at an average cost of $114.28 per share, with a total value of $45,712.00. Following the completion of the acquisition, the executive vice president now owns 13,677 shares in the company, valued at approximately $1,563,007.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Science Applications International news, EVP James Joshua Jackson acquired 400 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were purchased at an average cost of $114.28 per share, with a total value of $45,712.00. Following the purchase, the executive vice president now owns 13,677 shares in the company, valued at $1,563,007.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michelle A. O’hara bought 1,000 shares of the business’s stock in a transaction on Friday, July 12th. The shares were acquired at an average price of $118.00 per share, with a total value of $118,000.00. Following the transaction, the executive vice president now owns 33,497 shares of the company’s stock, valued at approximately $3,952,646. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 3,715 shares of company stock valued at $430,207. Corporate 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.