Charles Schwab Investment Management Inc. Increases Stake in Science Applications International Co. (NYSE:SAIC)

Charles Schwab Investment Management Inc. boosted its stake in shares of Science Applications International Co. (NYSE:SAIC) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 518,915 shares of the information technology services provider’s stock after purchasing an additional 6,780 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.05% of Science Applications International worth $72,269,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SAIC. Lazard Asset Management LLC increased its position in shares of Science Applications International by 68.5% in the 1st quarter. Lazard Asset Management LLC now owns 2,814 shares of the information technology services provider’s stock valued at $366,000 after acquiring an additional 1,144 shares during the period. Burney Co. increased its holdings in shares of Science Applications International by 0.9% in the first quarter. Burney Co. now owns 17,686 shares of the information technology services provider’s stock valued at $2,306,000 after purchasing an additional 166 shares during the period. Cetera Investment Advisers raised its stake in shares of Science Applications International by 776.8% in the first quarter. Cetera Investment Advisers now owns 18,973 shares of the information technology services provider’s stock worth $2,474,000 after purchasing an additional 16,809 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of Science Applications International during the first quarter worth about $497,000. Finally, Apella Capital LLC purchased a new stake in Science Applications International in the second quarter valued at approximately $820,000. Institutional investors and hedge funds own 76.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays raised their price target on shares of Science Applications International from $135.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Wells Fargo & Company upgraded shares of Science Applications International from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $157.00 to $147.00 in a research report on Tuesday. StockNews.com downgraded Science Applications International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised Science Applications International from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $150.00 to $170.00 in a report on Wednesday, October 2nd. Finally, TD Cowen raised their target price on Science Applications International from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.00.

Science Applications International Stock Down 0.6 %

Science Applications International stock opened at $123.29 on Friday. 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 stock has a market capitalization of $6.11 billion, a PE ratio of 22.17 and a beta of 0.70. The business has a 50 day simple moving average of $139.82 and a 200-day simple moving average of $130.05. Science Applications International Co. has a 12 month low of $112.00 and a 12 month high of $156.34.

Science Applications International (NYSE:SAIC) last posted its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.19. Science Applications International had a net margin of 3.97% and a return on equity of 22.88%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts anticipate that Science Applications International Co. will post 8.2 EPS for the current fiscal year.

Science Applications International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.48 annualized dividend and a yield of 1.20%. Science Applications International’s dividend payout ratio (DPR) is currently 26.62%.

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.