Mackenzie Financial Corp bought a new position in shares of Science Applications International Co. (NYSE:SAIC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,000 shares of the information technology services provider’s stock, valued at approximately $1,455,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Science Applications International by 1.1% during the second quarter. Vanguard Group Inc. now owns 5,241,190 shares of the information technology services provider’s stock worth $459,809,000 after buying an additional 58,133 shares during the period. Boston Partners increased its stake in Science Applications International by 4.3% in the second quarter. Boston Partners now owns 4,326,292 shares of the information technology services provider’s stock valued at $379,612,000 after purchasing an additional 177,783 shares during the last quarter. State Street Corp increased its stake in Science Applications International by 9.2% in the second quarter. State Street Corp now owns 1,489,814 shares of the information technology services provider’s stock valued at $130,701,000 after purchasing an additional 125,384 shares during the last quarter. First Trust Advisors LP increased its stake in Science Applications International by 29.1% in the second quarter. First Trust Advisors LP now owns 1,333,922 shares of the information technology services provider’s stock valued at $117,025,000 after purchasing an additional 300,353 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in Science Applications International by 108.3% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 929,868 shares of the information technology services provider’s stock valued at $81,577,000 after purchasing an additional 483,382 shares during the last quarter. Hedge funds and other institutional investors own 78.21% of the company’s stock.
SAIC has been the topic of several recent analyst reports. Cowen reiterated a “buy” rating on shares of Science Applications International in a research note on Thursday, September 30th. Morgan Stanley dropped their price target on shares of Science Applications International from $101.00 to $98.00 and set an “overweight” rating on the stock in a research note on Monday, January 3rd. Wells Fargo & Company increased their price target on shares of Science Applications International from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 7th. Finally, William Blair lowered shares of Science Applications International from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $95.00 to $85.00 in a research note on Wednesday, October 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $95.70.
Science Applications International (NYSE:SAIC) last issued its quarterly earnings results on Monday, December 6th. The information technology services provider reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.40. Science Applications International had a return on equity of 27.12% and a net margin of 4.04%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the company earned $1.62 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts anticipate that Science Applications International Co. will post 6.95 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 28th. Investors of record on Friday, January 14th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Thursday, January 13th. Science Applications International’s dividend payout ratio is presently 29.25%.
In other news, CFO Prabu Natarajan purchased 550 shares of the business’s stock in a transaction dated Monday, December 13th. The stock was acquired at an average price of $82.01 per share, with a total value of $45,105.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nazzic S. Keene sold 6,770 shares of Science Applications International stock in a transaction on Thursday, January 6th. The stock was sold at an average price of $86.72, for a total value of $587,094.40. The disclosure for this sale can be found here. 0.97% of the stock is owned by company insiders.
About Science Applications International
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.
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