BlackDiamond Wealth Management LLC Cuts Position in Science Applications International Co. (NYSE:SAIC)

BlackDiamond Wealth Management LLC cut its stake in Science Applications International Co. (NYSE:SAIC) by 12.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,926 shares of the information technology services provider’s stock after selling 554 shares during the period. BlackDiamond Wealth Management LLC’s holdings in Science Applications International were worth $439,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in Science Applications International by 851.8% during the fourth quarter. Victory Capital Management Inc. now owns 148,588 shares of the information technology services provider’s stock valued at $16,609,000 after buying an additional 132,976 shares during the period. Raymond James Financial Inc. purchased a new stake in Science Applications International during the fourth quarter valued at about $10,038,000. Van ECK Associates Corp boosted its position in Science Applications International by 30.4% during the fourth quarter. Van ECK Associates Corp now owns 326,793 shares of the information technology services provider’s stock valued at $36,529,000 after buying an additional 76,204 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Science Applications International during the fourth quarter valued at about $4,494,000. Finally, ING Groep NV purchased a new stake in Science Applications International during the fourth quarter valued at about $3,912,000. 76.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Science Applications International

In other news, Director Katharina G. Mcfarland sold 3,239 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $117.70, for a total transaction of $381,230.30. Following the sale, the director now owns 6,864 shares in the company, valued at $807,892.80. This represents a 32.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.67% of the company’s stock.

Science Applications International Price Performance

SAIC stock opened at $111.90 on Tuesday. Science Applications International Co. has a 1 year low of $94.68 and a 1 year high of $156.34. The company has a market cap of $5.47 billion, a P/E ratio of 18.87 and a beta of 0.66. The firm has a 50-day moving average of $107.40 and a 200 day moving average of $122.98. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.87 and a quick ratio of 0.87.

Science Applications International (NYSE:SAIC) last released its quarterly earnings results on Monday, March 17th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.57. Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. Science Applications International’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts forecast that Science Applications International Co. will post 8.27 EPS for the current year.

Science Applications International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, April 11th. Science Applications International’s dividend payout ratio is 24.96%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. UBS Group assumed coverage on shares of Science Applications International in a research report on Monday, December 2nd. They set a “neutral” rating and a $134.00 price target for the company. StockNews.com upgraded shares of Science Applications International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lowered their price objective on shares of Science Applications International from $170.00 to $148.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. TD Cowen downgraded shares of Science Applications International from a “buy” rating to a “hold” rating and lowered their price objective for the company from $155.00 to $120.00 in a research note on Wednesday, January 8th. Finally, Cantor Fitzgerald raised shares of Science Applications International to a “hold” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Science Applications International currently has an average rating of “Hold” and a consensus price target of $136.11.

Science Applications International Company Profile

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.