Van ECK Associates Corp Raises Stock Holdings in Science Applications International Co. (NYSE:SAIC)

Van ECK Associates Corp increased its stake in shares of Science Applications International Co. (NYSE:SAIC) by 234.3% in the first quarter, HoldingsChannel reports. The firm owned 92,339 shares of the information technology services provider’s stock after buying an additional 64,715 shares during the period. Van ECK Associates Corp’s holdings in Science Applications International were worth $12,040,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SAIC. Contravisory Investment Management Inc. acquired a new position in Science Applications International during the 4th quarter valued at about $25,000. CVA Family Office LLC acquired a new position in Science Applications International during the 4th quarter valued at about $26,000. Parallel Advisors LLC increased its position in Science Applications International by 62.9% during the 4th quarter. Parallel Advisors LLC now owns 259 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Community Bank N.A. acquired a new position in Science Applications International during the 4th quarter valued at about $66,000. Finally, Quest Partners LLC acquired a new position in Science Applications International during the 4th quarter valued at about $146,000. 76.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Toni Townes-Whitley bought 3,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were acquired at an average price of $125.96 per share, for a total transaction of $377,880.00. Following the completion of the transaction, the chief executive officer now directly owns 46,795 shares in the company, valued at approximately $5,894,298.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Toni Townes-Whitley bought 3,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were acquired at an average price of $125.96 per share, for a total transaction of $377,880.00. Following the completion of the transaction, the chief executive officer now directly owns 46,795 shares in the company, valued at approximately $5,894,298.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Vincent P. Difronzo bought 215 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was purchased at an average price of $116.72 per share, for a total transaction of $25,094.80. Following the transaction, the executive vice president now owns 2,267 shares of the company’s stock, valued at $264,604.24. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 6,110 shares of company stock worth $744,577. 0.67% of the stock is owned by corporate insiders.

Science Applications International Stock Performance

Science Applications International stock traded down $1.98 during midday trading on Friday, hitting $114.34. 179,054 shares of the company were exchanged, compared to its average volume of 302,971. The firm has a market capitalization of $5.86 billion, a PE ratio of 13.33 and a beta of 0.69. Science Applications International Co. has a fifty-two week low of $104.26 and a fifty-two week high of $145.17. The business has a fifty day simple moving average of $125.71 and a two-hundred day simple moving average of $128.70. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.95 and a current ratio of 0.95.

Science Applications International (NYSE:SAIC) last posted its earnings results on Monday, June 3rd. The information technology services provider reported $1.92 EPS for the quarter, hitting the consensus estimate of $1.92. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates 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 for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the company earned $2.14 earnings per share. On average, sell-side analysts forecast that Science Applications International Co. will post 8.1 earnings per share for the current year.

Science Applications International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.48 dividend on an annualized basis and a yield of 1.29%. Science Applications International’s dividend payout ratio is currently 17.33%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Science Applications International from $141.00 to $143.00 and gave the company an “equal weight” rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. cut their price objective on Science Applications International from $142.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, March 19th. Truist Financial cut their price objective on Science Applications International from $130.00 to $125.00 and set a “hold” rating on the stock in a report on Tuesday, June 4th. Finally, StockNews.com lowered Science Applications International from a “buy” rating to a “hold” rating in a report on Tuesday, June 4th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $126.60.

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.