Norges Bank Makes New Investment in Science Applications International Co. (NYSE:SAIC)

Norges Bank acquired a new position in shares of Science Applications International Co. (NYSE:SAIC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 603,604 shares of the information technology services provider’s stock, valued at approximately $75,040,000. Norges Bank owned 1.16% of Science Applications International as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. FMR LLC boosted its stake in shares of Science Applications International by 13.2% in the third quarter. FMR LLC now owns 2,823,285 shares of the information technology services provider’s stock valued at $297,969,000 after purchasing an additional 328,426 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Science Applications International by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,023,463 shares of the information technology services provider’s stock valued at $127,238,000 after purchasing an additional 21,346 shares during the period. Invesco Ltd. boosted its stake in shares of Science Applications International by 11.7% in the third quarter. Invesco Ltd. now owns 616,166 shares of the information technology services provider’s stock valued at $65,030,000 after purchasing an additional 64,406 shares during the period. LSV Asset Management boosted its stake in shares of Science Applications International by 0.4% in the fourth quarter. LSV Asset Management now owns 604,035 shares of the information technology services provider’s stock valued at $75,094,000 after purchasing an additional 2,697 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Science Applications International by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 513,725 shares of the information technology services provider’s stock valued at $63,866,000 after purchasing an additional 6,189 shares during the period. 76.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SAIC shares. 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. StockNews.com raised shares of Science Applications International from a “hold” rating to a “buy” rating in a report on Wednesday, April 17th. Wells Fargo & Company upped their price target on shares of Science Applications International from $141.00 to $143.00 and gave the company an “equal weight” rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. cut their price target on shares of Science Applications International from $142.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group cut their price target on shares of Science Applications International from $113.00 to $110.00 and set a “sell” rating on the stock in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given 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.

Science Applications International Stock Up 0.7 %

Shares of NYSE:SAIC opened at $137.63 on Monday. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 17.44 and a beta of 0.70. Science Applications International Co. has a 1-year low of $95.43 and a 1-year high of $145.17. The company’s fifty day moving average is $130.17 and its two-hundred day moving average is $129.01. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.97 and a current ratio of 0.98.

Science Applications International (NYSE:SAIC) last issued its earnings results 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 return on equity of 23.73% and a net margin of 6.41%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the company posted $2.04 earnings per share. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. Equities analysts anticipate that Science Applications International Co. will post 8.11 EPS for the current year.

Science Applications International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a $0.37 dividend. The ex-dividend date was Thursday, April 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.08%. Science Applications International’s dividend payout ratio (DPR) is presently 16.72%.

Insider Buying and Selling

In other news, CEO Toni Townes-Whitley acquired 3,000 shares of the company’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 directly owns 46,795 shares in the company, valued at $5,894,298.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Toni Townes-Whitley bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was purchased at an average price of $125.96 per share, for a total transaction of $377,880.00. Following the transaction, the chief executive officer now directly owns 46,795 shares of the company’s stock, valued at approximately $5,894,298.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vincent P. Difronzo bought 795 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was bought at an average price of $126.04 per share, with a total value of $100,201.80. Following the transaction, 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. Corporate insiders own 0.67% of the company’s stock.

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.