Janney Montgomery Scott LLC Lowers Holdings in Science Applications International Co. (NYSE:SAIC)

Janney Montgomery Scott LLC reduced its stake in Science Applications International Co. (NYSE:SAIC) by 15.3% during the third quarter, HoldingsChannel reports. The fund owned 16,553 shares of the information technology services provider’s stock after selling 2,989 shares during the period. Janney Montgomery Scott LLC’s holdings in Science Applications International were worth $2,305,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Science Applications International by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,108,748 shares of the information technology services provider’s stock valued at $130,333,000 after purchasing an additional 56,414 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Science Applications International by 4.9% during 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 purchasing an additional 25,807 shares during the period. American Century Companies Inc. grew its stake in Science Applications International by 8.1% during the second quarter. American Century Companies Inc. now owns 378,765 shares of the information technology services provider’s stock valued at $44,524,000 after acquiring an additional 28,304 shares in the last quarter. AQR Capital Management LLC grew its holdings in Science Applications International by 9.7% during the 2nd quarter. AQR Capital Management LLC now owns 313,802 shares of the information technology services provider’s stock valued at $36,887,000 after buying an additional 27,664 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Science Applications International by 36,732.4% in the 3rd quarter. International Assets Investment Management LLC now owns 245,672 shares of the information technology services provider’s stock worth $34,215,000 after acquiring an additional 245,005 shares during the last quarter. 76.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SAIC. Citigroup increased their target price on Science Applications International from $160.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on shares of Science Applications International from $122.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. TD Cowen upped their target price on shares of Science Applications International from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. raised shares of Science Applications International from a “neutral” rating to an “overweight” rating and increased their price target for the company from $150.00 to $170.00 in a report on Wednesday, October 2nd. Finally, Barclays boosted their price objective on Science Applications International from $135.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. One 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $150.43.

Science Applications International Stock Performance

Science Applications International stock opened at $153.33 on Wednesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $7.59 billion, a P/E ratio of 27.72 and a beta of 0.70. Science Applications International Co. has a 1-year low of $112.00 and a 1-year high of $156.34. The company’s 50-day moving average is $141.58 and its 200 day moving average is $130.46.

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

Science Applications International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, October 11th. Science Applications International’s payout ratio is presently 26.62%.

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.