Envestnet Asset Management Inc. Sells 641 Shares of Science Applications International Co. (NYSE:SAIC)

Envestnet Asset Management Inc. cut its holdings in Science Applications International Co. (NYSE:SAIC) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,624 shares of the information technology services provider’s stock after selling 641 shares during the period. Envestnet Asset Management Inc.’s holdings in Science Applications International were worth $1,107,000 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 SAIC. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Science Applications International by 41.4% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,880 shares of the information technology services provider’s stock valued at $408,000 after purchasing an additional 1,429 shares during the period. Rhumbline Advisers lifted its position in shares of Science Applications International by 1.1% during the first quarter. Rhumbline Advisers now owns 159,202 shares of the information technology services provider’s stock worth $13,308,000 after acquiring an additional 1,802 shares in the last quarter. Swiss National Bank raised its position in shares of Science Applications International by 1.3% in the first quarter. Swiss National Bank now owns 119,615 shares of the information technology services provider’s stock worth $9,999,000 after buying an additional 1,500 shares in the last quarter. Cibc World Markets Corp purchased a new stake in shares of Science Applications International in the first quarter worth $523,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Science Applications International by 21.0% in the first quarter. BNP Paribas Arbitrage SA now owns 78,891 shares of the information technology services provider’s stock worth $6,594,000 after buying an additional 13,710 shares in the last quarter. 75.72% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:SAIC opened at $84.82 on Friday. The stock’s 50-day moving average price is $85.07 and its 200-day moving average price is $87.98. Science Applications International Co. has a 12-month low of $72.44 and a 12-month high of $103.95. The stock has a market capitalization of $4.88 billion, a P/E ratio of 17.45 and a beta of 0.90. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 1.51.

Science Applications International (NYSE:SAIC) last announced its quarterly earnings data on Wednesday, September 1st. The information technology services provider reported $1.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.50. Science Applications International had a return on equity of 26.92% and a net margin of 3.93%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the firm earned $1.63 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts predict that Science Applications International Co. will post 6.69 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Friday, October 15th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, October 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.74%. Science Applications International’s dividend payout ratio (DPR) is currently 23.60%.

A number of equities research analysts recently issued reports on SAIC shares. Morgan Stanley increased their price objective on Science Applications International from $97.00 to $101.00 and gave the stock an “overweight” rating in a research report on Monday, June 7th. The Goldman Sachs Group downgraded Science Applications International from a “neutral” rating to a “sell” rating and set a $89.00 price target on the stock. in a research report on Tuesday, June 8th. Finally, Zacks Investment Research upgraded Science Applications International from a “sell” rating to a “hold” rating and set a $97.00 price target on the stock in a research report on Tuesday, June 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $97.44.

Science Applications International Profile

Science Applications International Corp. is a provider of technical, engineering and enterprise information technology (IT) services primarily to the U.S. government. Its offerings include: engineering; technology integration; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; and end-to-end services spanning the design, development, integration, deployment, management and operations, sustainment and security of its customers’ entire IT infrastructure.

Further Reading: Risk Tolerance

Institutional Ownership by Quarter for Science Applications International (NYSE:SAIC)

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