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

Van ECK Associates Corp increased its position in shares of Science Applications International Co. (NYSE:SAIC) by 21.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 250,589 shares of the information technology services provider’s stock after buying an additional 44,990 shares during the period. Van ECK Associates Corp’s holdings in Science Applications International were worth $36,070,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SAIC. Janney Montgomery Scott LLC boosted its stake in Science Applications International by 47.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,237 shares of the information technology services provider’s stock valued at $1,596,000 after acquiring an additional 3,935 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of Science Applications International in the 1st quarter valued at approximately $372,000. Choreo LLC acquired a new stake in shares of Science Applications International during the 1st quarter valued at approximately $220,000. GSA Capital Partners LLP bought a new position in Science Applications International during the first quarter worth $468,000. Finally, TFB Advisors LLC acquired a new position in Science Applications International in the first quarter worth $228,000. Institutional investors and hedge funds own 76.00% of the company’s stock.

Science Applications International Price Performance

Shares of SAIC opened at $146.14 on Tuesday. The business’s 50-day moving average is $139.46 and its 200-day moving average is $129.63. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 26.28 and a beta of 0.70. Science Applications International Co. has a fifty-two week low of $109.46 and a fifty-two week high of $148.65.

Science Applications International (NYSE:SAIC) last issued its earnings results on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.19. Science Applications International had a net margin of 3.97% and a return on equity of 22.88%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the business posted $2.05 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts expect that Science Applications International Co. will post 8.2 EPS for the current fiscal year.

Science Applications International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Friday, October 11th. Science Applications International’s dividend payout ratio (DPR) is presently 26.62%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SAIC. Truist Financial increased their price objective on shares of Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Wells Fargo & Company boosted their price objective on Science Applications International from $122.00 to $157.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Barclays increased their target price on Science Applications International from $135.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. raised shares of Science Applications International from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $150.00 to $170.00 in a report on Wednesday, October 2nd. Finally, StockNews.com cut shares of Science Applications International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $150.43.

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.