Prudential Financial Inc. Raises Stake in Science Applications International Co. (NYSE:SAIC)

Prudential Financial Inc. raised its stake in shares of Science Applications International Co. (NYSE:SAIC) by 285.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 138,987 shares of the information technology services provider’s stock after buying an additional 102,933 shares during the quarter. Prudential Financial Inc. owned about 0.28% of Science Applications International worth $17,012,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SAIC. Cornerstone Planning Group LLC purchased a new position in Science Applications International during the fourth quarter valued at approximately $28,000. Quarry LP purchased a new position in shares of Science Applications International during the 3rd quarter valued at $71,000. Jones Financial Companies Lllp increased its holdings in shares of Science Applications International by 32.3% in the fourth quarter. Jones Financial Companies Lllp now owns 639 shares of the information technology services provider’s stock worth $71,000 after purchasing an additional 156 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Science Applications International by 33.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the information technology services provider’s stock worth $75,000 after buying an additional 167 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in Science Applications International during the third quarter valued at $200,000. 76.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Science Applications International news, Director Milford W. Mcguirt purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was bought at an average price of $110.58 per share, with a total value of $55,290.00. Following the completion of the purchase, the director now directly owns 6,841 shares of the company’s stock, valued at $756,477.78. The trade was a 7.89 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Katharina G. Mcfarland sold 3,239 shares of Science Applications International stock in a transaction on Monday, January 13th. The shares were sold at an average price of $117.70, for a total transaction of $381,230.30. Following the completion of the sale, the director now owns 6,864 shares in the company, valued at approximately $807,892.80. This trade represents a 32.06 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Science Applications International Stock Up 1.6 %

Shares of NYSE:SAIC opened at $111.36 on Friday. The stock has a market capitalization of $5.32 billion, a P/E ratio of 18.78 and a beta of 0.66. The stock’s 50-day moving average price is $106.43 and its 200-day moving average price is $121.90. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20. Science Applications International Co. has a 12-month low of $94.68 and a 12-month high of $156.34.

Science Applications International (NYSE:SAIC) last posted its quarterly earnings results on Monday, March 17th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.57. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. Science Applications International had a return on equity of 24.18% and a net margin of 4.11%. Science Applications International’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $1.43 EPS. On average, equities analysts anticipate that Science Applications International Co. will post 8.27 earnings per share for the current year.

Science Applications International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Friday, April 11th. Science Applications International’s dividend payout ratio (DPR) is presently 20.58%.

Analyst Ratings Changes

SAIC has been the topic of several recent analyst reports. TD Cowen cut Science Applications International from a “buy” rating to a “hold” rating and lowered their price target for the company from $155.00 to $120.00 in a report on Wednesday, January 8th. UBS Group boosted their price target on shares of Science Applications International from $123.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 18th. Truist Financial lowered their price objective on shares of Science Applications International from $135.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. StockNews.com upgraded shares of Science Applications International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group lowered their price target on Science Applications International from $124.00 to $103.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $134.00.

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.