Texas Permanent School Fund boosted its position in Science Applications International Corp (NYSE:SAIC) by 24.1% in the 1st quarter, Holdings Channel reports. The firm owned 34,557 shares of the information technology services provider’s stock after buying an additional 6,717 shares during the quarter. Texas Permanent School Fund’s holdings in Science Applications International were worth $2,659,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Parkside Financial Bank & Trust increased its position in shares of Science Applications International by 6,740.0% during the first quarter. Parkside Financial Bank & Trust now owns 342 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 337 shares during the period. Royce & Associates LP purchased a new position in shares of Science Applications International during the fourth quarter worth approximately $36,000. Meeder Asset Management Inc. increased its position in shares of Science Applications International by 23.7% during the first quarter. Meeder Asset Management Inc. now owns 1,053 shares of the information technology services provider’s stock worth $81,000 after acquiring an additional 202 shares during the period. Wilsey Asset Management Inc. purchased a new position in Science Applications International during the fourth quarter valued at approximately $144,000. Finally, NumerixS Investment Technologies Inc increased its holdings in Science Applications International by 30.4% during the fourth quarter. NumerixS Investment Technologies Inc now owns 3,001 shares of the information technology services provider’s stock valued at $188,000 after buying an additional 700 shares during the period. 69.53% of the stock is owned by institutional investors and hedge funds.
In other Science Applications International news, CEO Anthony J. Moraco sold 1,803 shares of Science Applications International stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $75.00, for a total value of $135,225.00. Following the transaction, the chief executive officer now directly owns 59,151 shares of the company’s stock, valued at $4,436,325. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.05% of the stock is currently owned by insiders.
Science Applications International (NYSE:SAIC) last released its quarterly earnings results on Thursday, March 28th. The information technology services provider reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.28. Science Applications International had a net margin of 2.94% and a return on equity of 32.34%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company earned $1.16 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, sell-side analysts predict that Science Applications International Corp will post 5.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were issued a $0.37 dividend. This is a positive change from Science Applications International’s previous quarterly dividend of $0.31. This represents a $1.48 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, April 11th. Science Applications International’s payout ratio is currently 29.37%.
SAIC has been the topic of several research reports. Vertical Research raised shares of Science Applications International from a “hold” rating to a “buy” rating and lifted their price objective for the company from $83.00 to $108.00 in a report on Friday, March 29th. Drexel Hamilton reissued a “buy” rating and set a $90.00 price objective on shares of Science Applications International in a report on Thursday, January 24th. Zacks Investment Research raised shares of Science Applications International from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Thursday, January 17th. Citigroup initiated coverage on shares of Science Applications International in a report on Tuesday, February 19th. They set a “buy” rating on the stock. Finally, TheStreet lowered shares of Science Applications International from a “b” rating to a “c+” rating in a report on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Science Applications International has an average rating of “Buy” and a consensus price target of $88.38.
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Science Applications International Company Profile
Science Applications International Corp. engages in the provision of full life cycle services and solutions in the technical, engineering, intelligence, and enterprise information technology markets. It offers technology and equipment platform integration; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; and end-to-end services such as the design, development, integration, deployment, management and operations, and sustainment and security of its customer’s information technology infrastructure.
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