Envestnet Asset Management Inc. Purchases 3,048 Shares of Science Applications International Co. (NYSE:SAIC)

Envestnet Asset Management Inc. boosted its position in shares of Science Applications International Co. (NYSE:SAIC) by 12.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,223 shares of the information technology services provider’s stock after purchasing an additional 3,048 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Science Applications International worth $3,318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Science Applications International by 5.0% during the fourth quarter. Wellington Management Group LLP now owns 4,062,059 shares of the information technology services provider’s stock valued at $504,995,000 after buying an additional 194,160 shares during the last quarter. Bank of New York Mellon Corp grew its position in Science Applications International by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 557,299 shares of the information technology services provider’s stock valued at $65,511,000 after acquiring an additional 25,807 shares during the last quarter. American Century Companies Inc. increased its stake in Science Applications International by 8.1% in the second quarter. American Century Companies Inc. now owns 378,765 shares of the information technology services provider’s stock worth $44,524,000 after purchasing an additional 28,304 shares during the period. Van ECK Associates Corp lifted its position in shares of Science Applications International by 122.7% during the second quarter. Van ECK Associates Corp now owns 205,599 shares of the information technology services provider’s stock worth $24,168,000 after purchasing an additional 113,260 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Science Applications International by 0.9% during the first quarter. Principal Financial Group Inc. now owns 196,064 shares of the information technology services provider’s stock valued at $25,565,000 after purchasing an additional 1,715 shares during the period. 76.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SAIC has been the subject of a number of research analyst reports. TD Cowen lifted their price objective on shares of Science Applications International from $145.00 to $155.00 and gave the company a “buy” rating in a report on Friday, September 6th. Barclays boosted their price target on Science Applications International from $135.00 to $150.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Citigroup raised their price objective on Science Applications International from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, September 6th. StockNews.com upgraded Science Applications International from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, Truist Financial increased 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $146.14.

Science Applications International Stock Up 0.5 %

Shares of NYSE SAIC opened at $144.04 on Friday. Science Applications International Co. has a 12-month low of $104.46 and a 12-month high of $145.17. The stock’s fifty day simple moving average is $130.06 and its two-hundred day simple moving average is $126.87. The stock has a market capitalization of $7.38 billion, a PE ratio of 16.87 and a beta of 0.70. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21.

Science Applications International (NYSE:SAIC) last issued its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.19. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. As a group, analysts expect that Science Applications International Co. will post 8.17 EPS for the current fiscal year.

Science Applications International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, October 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.03%. Science Applications International’s payout ratio is 17.33%.

Insider Buying and Selling at Science Applications International

In other Science Applications International news, EVP James Joshua Jackson acquired 400 shares of the stock in a transaction dated Wednesday, July 10th. The stock was purchased at an average price of $114.28 per share, with a total value of $45,712.00. Following the transaction, the executive vice president now directly owns 13,677 shares of the company’s stock, valued at $1,563,007.56. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Michelle A. O’hara bought 1,000 shares of the company’s stock in a transaction on Friday, July 12th. The shares were bought at an average price of $118.00 per share, with a total value of $118,000.00. Following the transaction, the executive vice president now owns 33,497 shares in the company, valued at $3,952,646. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Joshua Jackson purchased 400 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was bought at an average cost of $114.28 per share, with a total value of $45,712.00. Following the acquisition, the executive vice president now owns 13,677 shares of the company’s stock, valued at approximately $1,563,007.56. The disclosure for this purchase can be found here. Insiders bought a total of 1,550 shares of company stock worth $184,319 over the last three months. Corporate insiders own 0.67% of the company’s stock.

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.