Prudential Financial Inc. Boosts Stake in Science Applications International Co. (NYSE:SAIC)

Prudential Financial Inc. increased its position in Science Applications International Co. (NYSE:SAIC) by 285.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 138,987 shares of the information technology services provider’s stock after purchasing an additional 102,933 shares during the quarter. Prudential Financial Inc.’s holdings in Science Applications International were worth $17,012,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SAIC. Cornerstone Planning Group LLC bought a new position in Science Applications International in the fourth quarter worth $28,000. Quarry LP purchased a new stake in shares of Science Applications International in the 3rd quarter worth about $71,000. Jones Financial Companies Lllp increased its stake in shares of Science Applications International by 32.3% in the 4th quarter. Jones Financial Companies Lllp now owns 639 shares of the information technology services provider’s stock worth $71,000 after acquiring an additional 156 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Science Applications International by 33.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the information technology services provider’s stock valued at $75,000 after acquiring an additional 167 shares during the period. Finally, Tidal Investments LLC bought a new stake in Science Applications International during the third quarter worth about $200,000. 76.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on SAIC shares. The Goldman Sachs Group decreased their target price on shares of Science Applications International from $124.00 to $103.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. JPMorgan Chase & Co. reduced their price objective on Science Applications International from $170.00 to $148.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. UBS Group boosted their target price on Science Applications International from $123.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, March 18th. Wells Fargo & Company raised their price target on Science Applications International from $139.00 to $148.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. Finally, TD Cowen cut shares of Science Applications International from a “buy” rating to a “hold” rating and dropped their price target for the stock from $155.00 to $120.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Science Applications International has a consensus rating of “Hold” and a consensus price target of $134.00.

Science Applications International Price Performance

NYSE SAIC opened at $111.36 on Friday. Science Applications International Co. has a one year low of $94.68 and a one year high of $156.34. The stock has a 50-day moving average of $106.43 and a 200 day moving average of $121.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 18.78 and a beta of 0.66.

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

Science Applications International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.48 annualized dividend and a dividend yield of 1.33%. Science Applications International’s payout ratio is 20.58%.

Insider Transactions at Science Applications International

In other Science Applications International news, Director Milford W. Mcguirt acquired 500 shares of the stock in a transaction dated Thursday, March 27th. The shares were purchased at an average price of $110.58 per share, for a total transaction of $55,290.00. Following the purchase, the director now directly owns 6,841 shares of the company’s stock, valued at approximately $756,477.78. This trade represents a 7.89 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Katharina G. Mcfarland sold 3,239 shares of the business’s 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 of the company’s stock, valued at $807,892.80. This trade represents a 32.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.

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.