Summit Investment Advisors Inc. Trims Stake in Science Applications International Co. (NYSE:SAIC)

Summit Investment Advisors Inc. lessened its position in shares of Science Applications International Co. (NYSE:SAIC) by 5.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,919 shares of the information technology services provider’s stock after selling 592 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Science Applications International were worth $1,109,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC purchased a new position in shares of Science Applications International during the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp boosted its stake in Science Applications International by 32.3% during the 4th quarter. Jones Financial Companies Lllp now owns 639 shares of the information technology services provider’s stock worth $71,000 after purchasing an additional 156 shares during the period. EverSource Wealth Advisors LLC grew 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 worth $75,000 after purchasing an additional 167 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Science Applications International in the fourth quarter valued at about $77,000. Finally, Tidal Investments LLC purchased a new stake in shares of Science Applications International in the third quarter valued at about $200,000. Institutional investors and hedge funds own 76.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Cantor Fitzgerald upgraded Science Applications International to a “hold” rating in a research report on Tuesday, February 25th. TD Cowen cut Science Applications International from a “buy” rating to a “hold” rating and cut their price target for the stock from $155.00 to $120.00 in a research note on Wednesday, January 8th. Truist Financial lowered their price objective on shares of Science Applications International from $135.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. JPMorgan Chase & Co. reduced their target price on shares of Science Applications International from $148.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, UBS Group increased their price target on shares of Science Applications International from $123.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Science Applications International currently has an average rating of “Hold” and a consensus price target of $131.33.

Science Applications International Trading Up 0.3 %

Shares of Science Applications International stock opened at $116.71 on Friday. The company has a 50-day moving average of $107.61 and a two-hundred day moving average of $119.36. Science Applications International Co. has a 12-month low of $94.68 and a 12-month high of $156.34. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20. The stock has a market cap of $5.57 billion, a PE ratio of 19.68 and a beta of 0.58.

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

Science Applications International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.27%. Science Applications International’s payout ratio is 20.58%.

Insider Buying and Selling at Science Applications International

In other Science Applications International news, Director Garth Graham acquired 215 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was acquired at an average cost of $116.75 per share, with a total value of $25,101.25. Following the purchase, the director now directly owns 7,159 shares in the company, valued at approximately $835,813.25. This trade represents a 3.10 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Toni Townes-Whitley bought 2,000 shares of Science Applications International stock in a transaction that occurred on Friday, March 28th. The stock was bought at an average cost of $111.67 per share, for a total transaction of $223,340.00. Following the purchase, the chief executive officer now owns 45,183 shares in the company, valued at $5,045,585.61. This represents a 4.63 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 3,260 shares of company stock worth $365,037. 0.67% of the stock is owned by corporate insiders.

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.