Spire Wealth Management Cuts Stake in Science Applications International Co. (NYSE:SAIC)

Spire Wealth Management trimmed its holdings in shares of Science Applications International Co. (NYSE:SAIC) by 35.9% during the 4th quarter, Holdings Channel reports. The fund owned 5,079 shares of the information technology services provider’s stock after selling 2,843 shares during the period. Spire Wealth Management’s holdings in Science Applications International were worth $658,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SAIC. LSV Asset Management lifted its holdings in Science Applications International by 0.4% during the fourth quarter. LSV Asset Management now owns 604,035 shares of the information technology services provider’s stock worth $75,094,000 after buying an additional 2,697 shares during the period. Los Angeles Capital Management LLC purchased a new position in Science Applications International in the fourth quarter valued at about $7,586,000. Victory Capital Management Inc. raised its holdings in Science Applications International by 0.7% in the fourth quarter. Victory Capital Management Inc. now owns 30,904 shares of the information technology services provider’s stock worth $3,842,000 after purchasing an additional 217 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Science Applications International during the fourth quarter valued at about $344,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Science Applications International by 66.9% in the 4th quarter. Van ECK Associates Corp now owns 27,624 shares of the information technology services provider’s stock valued at $3,434,000 after buying an additional 11,072 shares in the last quarter. Hedge funds and other institutional investors own 76.00% of the company’s stock.

Analyst Upgrades and Downgrades

SAIC has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Science Applications International from $142.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, March 19th. The Goldman Sachs Group dropped their price target on Science Applications International from $113.00 to $110.00 and set a “sell” rating on the stock in a research note on Thursday, February 29th. StockNews.com upgraded shares of Science Applications International from a “hold” rating to a “buy” rating in a research note on Wednesday, April 17th. Wells Fargo & Company lifted their price objective on shares of Science Applications International from $141.00 to $143.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 19th. Finally, Truist Financial restated a “hold” rating and issued a $130.00 target price on shares of Science Applications International in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $127.60.

Insider Activity

In related news, CEO Toni Townes-Whitley bought 3,000 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were acquired at an average price of $125.96 per share, for a total transaction of $377,880.00. Following the completion of the transaction, the chief executive officer now directly owns 46,795 shares in the company, valued at $5,894,298.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Toni Townes-Whitley purchased 3,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was purchased at an average price of $125.96 per share, with a total value of $377,880.00. Following the completion of the acquisition, the chief executive officer now owns 46,795 shares in the company, valued at $5,894,298.20. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vincent P. Difronzo bought 795 shares of the business’s stock in a transaction on Friday, April 12th. The stock was bought at an average cost of $126.04 per share, with a total value of $100,201.80. Following the completion of the purchase, the executive vice president now directly owns 8,772 shares in the company, valued at $1,105,622.88. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company’s stock.

Science Applications International Stock Performance

Shares of SAIC stock opened at $135.75 on Friday. The stock has a market cap of $6.96 billion, a PE ratio of 15.34 and a beta of 0.70. Science Applications International Co. has a 52-week low of $95.43 and a 52-week high of $145.17. The business has a 50-day simple moving average of $131.48 and a 200-day simple moving average of $126.64. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 1.13.

Science Applications International (NYSE:SAIC) last released its quarterly earnings data on Monday, March 18th. The information technology services provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.01). Science Applications International had a net margin of 6.41% and a return on equity of 23.73%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the firm posted $2.04 EPS. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. On average, equities analysts expect that Science Applications International Co. will post 8.11 EPS for the current year.

Science Applications International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.09%. The ex-dividend date was Thursday, April 11th. Science Applications International’s payout ratio is currently 16.72%.

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.