JPMorgan Chase & Co. Cuts Holdings in Science Applications International Co. (NYSE:SAIC)

JPMorgan Chase & Co. cut its holdings in Science Applications International Co. (NYSE:SAIC) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,306 shares of the information technology services provider’s stock after selling 11,377 shares during the quarter. JPMorgan Chase & Co.’s holdings in Science Applications International were worth $29,846,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SAIC. Larson Financial Group LLC purchased a new stake in shares of Science Applications International in the second quarter valued at $27,000. UMB Bank n.a. raised its stake in Science Applications International by 438.5% in the 3rd quarter. UMB Bank n.a. now owns 210 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 171 shares during the last quarter. GAMMA Investing LLC raised its stake in Science Applications International by 236.0% in the 3rd quarter. GAMMA Investing LLC now owns 289 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 203 shares during the last quarter. Quarry LP purchased a new position in Science Applications International in the 3rd quarter valued at about $71,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Science Applications International during the 2nd quarter worth about $78,000. Institutional investors and hedge funds own 76.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. StockNews.com raised Science Applications International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company boosted their target price on shares of Science Applications International from $147.00 to $154.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. TD Cowen raised shares of Science Applications International to a “strong-buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. lowered their price objective on shares of Science Applications International from $170.00 to $148.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Finally, UBS Group started coverage on Science Applications International in a research report on Monday, December 2nd. They issued a “neutral” rating and a $134.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Science Applications International has an average rating of “Moderate Buy” and an average target price of $144.38.

Insider Buying and Selling

In related news, EVP Barbara Supplee bought 425 shares of Science Applications International stock in a transaction on Wednesday, December 11th. The shares were purchased at an average price of $116.36 per share, for a total transaction of $49,453.00. Following the completion of the acquisition, the executive vice president now owns 3,579 shares in the company, valued at approximately $416,452.44. This represents a 13.47 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

Science Applications International Stock Up 0.1 %

Shares of SAIC opened at $113.95 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20. The company has a 50-day moving average price of $124.03 and a two-hundred day moving average price of $127.88. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 19.22 and a beta of 0.66. Science Applications International Co. has a 12 month low of $108.90 and a 12 month high of $156.34.

Science Applications International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Friday, January 10th. Science Applications International’s dividend payout ratio is currently 24.96%.

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.