Inspire Investing LLC Takes $884,000 Position in Science Applications International Co. (NYSE:SAIC)

Inspire Investing LLC bought a new position in shares of Science Applications International Co. (NYSE:SAIC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,349 shares of the information technology services provider’s stock, valued at approximately $884,000.

Several other institutional investors also recently bought and sold shares of SAIC. Larson Financial Group LLC bought a new position in shares of Science Applications International during the 2nd quarter valued at about $27,000. UMB Bank n.a. grew its holdings in Science Applications International by 438.5% during the 3rd quarter. UMB Bank n.a. now owns 210 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 171 shares in the last quarter. GAMMA Investing LLC increased its stake in Science Applications International by 236.0% in the 3rd quarter. GAMMA Investing LLC now owns 289 shares of the information technology services provider’s stock worth $40,000 after acquiring an additional 203 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Science Applications International by 30.4% during the 2nd quarter. Fifth Third Bancorp now owns 360 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 84 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Science Applications International by 56.8% during the 2nd quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 147 shares during the last quarter. 76.00% of the stock is owned by hedge funds and other institutional investors.

Science Applications International Stock Performance

Science Applications International stock opened at $146.08 on Tuesday. Science Applications International Co. has a fifty-two week low of $105.97 and a fifty-two week high of $146.42. The company has a market capitalization of $7.23 billion, a PE ratio of 26.27 and a beta of 0.70. The company has a 50 day moving average price of $133.07 and a 200-day moving average price of $127.65. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85.

Science Applications International (NYSE:SAIC) last released its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.19. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. Science Applications International had a net margin of 3.97% and a return on equity of 22.88%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $2.05 earnings per share. As a group, equities analysts forecast that Science Applications International Co. will post 8.2 earnings per share for the current year.

Science Applications International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, October 11th. Science Applications International’s dividend payout ratio is currently 26.62%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SAIC shares. StockNews.com raised shares of Science Applications International from a “buy” rating to a “strong-buy” rating in a research note on Monday. Truist Financial lifted their price target on Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. upgraded Science Applications International from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $150.00 to $170.00 in a research report on Wednesday, October 2nd. Barclays lifted their target price on Science Applications International from $135.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Finally, TD Cowen increased their price target on Science Applications International from $145.00 to $155.00 and gave the company a “buy” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $150.43.

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.