Van ECK Associates Corp Increases Stake in Science Applications International Co. (NYSE:SAIC)

Van ECK Associates Corp increased its position in Science Applications International Co. (NYSE:SAIC) by 234.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 92,339 shares of the information technology services provider’s stock after acquiring an additional 64,715 shares during the quarter. Van ECK Associates Corp owned about 0.18% of Science Applications International worth $12,040,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new position in Science Applications International during the 4th quarter valued at about $25,000. CVA Family Office LLC purchased a new position in Science Applications International during the 4th quarter valued at about $26,000. Parallel Advisors LLC grew its holdings in Science Applications International by 62.9% during the 4th quarter. Parallel Advisors LLC now owns 259 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Community Bank N.A. purchased a new position in Science Applications International during the 4th quarter valued at about $66,000. Finally, Quest Partners LLC purchased a new position in Science Applications International during the 4th quarter valued at about $146,000. Hedge funds and other institutional investors own 76.00% of the company’s stock.

Science Applications International Price Performance

NYSE:SAIC traded down $1.98 during mid-day trading on Friday, reaching $114.34. The stock had a trading volume of 179,054 shares, compared to its average volume of 302,971. The firm has a 50 day moving average price of $125.71 and a two-hundred day moving average price of $128.70. The stock has a market capitalization of $5.86 billion, a P/E ratio of 13.33 and a beta of 0.69. Science Applications International Co. has a one year low of $104.26 and a one year high of $145.17. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.95 and a current ratio of 0.95.

Science Applications International (NYSE:SAIC) last released its earnings results on Monday, June 3rd. The information technology services provider reported $1.92 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.92. Science Applications International had a return on equity of 22.56% and a net margin of 6.28%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $2.14 EPS. Science Applications International’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, analysts expect that Science Applications International Co. will post 8.1 earnings per share for the current year.

Science Applications International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.48 annualized dividend and a yield of 1.29%. Science Applications International’s payout ratio is currently 17.33%.

Analysts Set New Price Targets

Several brokerages have recently commented on SAIC. Wells Fargo & Company boosted their price objective on Science Applications International from $141.00 to $143.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 19th. StockNews.com lowered Science Applications International from a “buy” rating to a “hold” rating in a report on Tuesday, June 4th. Truist Financial cut their price objective on Science Applications International from $130.00 to $125.00 and set a “hold” rating for the company in a report on Tuesday, June 4th. Finally, JPMorgan Chase & Co. cut their price objective on Science Applications International from $142.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $126.60.

Insider Buying and Selling at Science Applications International

In related news, EVP Vincent P. Difronzo acquired 215 shares of the stock in a transaction on Monday, June 24th. The stock was purchased at an average price of $116.72 per share, for a total transaction of $25,094.80. Following the completion of the transaction, the executive vice president now owns 2,267 shares of the company’s stock, valued at approximately $264,604.24. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Science Applications International news, EVP Vincent P. Difronzo bought 215 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was bought at an average price of $116.72 per share, for a total transaction of $25,094.80. Following the completion of the acquisition, the executive vice president now directly owns 2,267 shares in the company, valued at $264,604.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Toni Townes-Whitley bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were acquired at an average price of $125.96 per share, with a total value of $377,880.00. Following the acquisition, the chief executive officer now owns 46,795 shares of the company’s stock, valued at $5,894,298.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 6,110 shares of company stock worth $744,577. 0.67% of the stock is currently owned by insiders.

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.