Principal Financial Group Inc. Reduces Position in Science Applications International Co. (NYSE:SAIC)

Principal Financial Group Inc. trimmed its position in Science Applications International Co. (NYSE:SAIC) by 30.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,567 shares of the information technology services provider’s stock after selling 52,155 shares during the period. Principal Financial Group Inc. owned 0.24% of Science Applications International worth $16,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SAIC. Twin Tree Management LP purchased a new position in shares of Science Applications International during the 1st quarter valued at about $649,000. Farther Finance Advisors LLC boosted its position in Science Applications International by 30,868.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,955 shares of the information technology services provider’s stock worth $690,000 after purchasing an additional 4,939 shares in the last quarter. Sei Investments Co. grew its stake in shares of Science Applications International by 53.9% during the 1st quarter. Sei Investments Co. now owns 86,541 shares of the information technology services provider’s stock worth $11,284,000 after purchasing an additional 30,325 shares during the period. Van ECK Associates Corp increased its holdings in shares of Science Applications International by 21.9% during the 3rd quarter. Van ECK Associates Corp now owns 250,589 shares of the information technology services provider’s stock valued at $36,070,000 after purchasing an additional 44,990 shares in the last quarter. Finally, Apella Capital LLC acquired a new position in shares of Science Applications International in the 2nd quarter valued at $820,000. Hedge funds and other institutional investors own 76.00% of the company’s stock.

Science Applications International Stock Down 2.8 %

NYSE SAIC opened at $122.40 on Friday. The business has a fifty day moving average price of $142.27 and a 200 day moving average price of $130.71. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $6.06 billion, a P/E ratio of 21.74 and a beta of 0.70. Science Applications International Co. has a one year low of $112.00 and a one year high of $156.34.

Science Applications International (NYSE:SAIC) last posted its quarterly earnings results on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the firm posted $2.05 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Research analysts anticipate that Science Applications International Co. will post 8.2 EPS for the current fiscal year.

Science Applications International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a $0.37 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.48 annualized dividend and a dividend yield of 1.21%. Science Applications International’s dividend payout ratio is presently 26.62%.

Analysts Set New Price Targets

SAIC has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Science Applications International from $122.00 to $157.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Citigroup increased their price target on Science Applications International from $160.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Barclays raised their price objective 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. Truist Financial upped their target price on Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Finally, StockNews.com lowered shares of Science Applications International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Science Applications International presently has a consensus rating of “Hold” and a consensus price target of $150.43.

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.