Wellington Management Group LLP Sells 1,031,285 Shares of Science Applications International Co. (NYSE:SAIC)

Wellington Management Group LLP lessened its position in shares of Science Applications International Co. (NYSE:SAIC) by 37.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,715,795 shares of the information technology services provider’s stock after selling 1,031,285 shares during the period. Wellington Management Group LLP owned approximately 3.51% of Science Applications International worth $191,792,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp grew its holdings in Science Applications International by 1.0% in the 3rd quarter. State Street Corp now owns 1,577,757 shares of the information technology services provider’s stock valued at $219,734,000 after buying an additional 15,166 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Science Applications International by 1.9% in the third quarter. Geode Capital Management LLC now owns 985,105 shares of the information technology services provider’s stock valued at $137,227,000 after acquiring an additional 18,102 shares in the last quarter. Norges Bank bought a new position in Science Applications International during the fourth quarter worth about $63,572,000. Bank of New York Mellon Corp raised its stake in Science Applications International by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 523,326 shares of the information technology services provider’s stock worth $58,497,000 after purchasing an additional 31,374 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC grew its position in shares of Science Applications International by 0.9% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 406,695 shares of the information technology services provider’s stock worth $45,460,000 after purchasing an additional 3,730 shares in the last quarter. Institutional investors and hedge funds own 76.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Truist Financial cut their price target on Science Applications International from $135.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. JPMorgan Chase & Co. reduced their target price on Science Applications International from $170.00 to $148.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. TD Cowen downgraded Science Applications International from a “buy” rating to a “hold” rating and dropped their price target for the company from $155.00 to $120.00 in a research note on Wednesday, January 8th. Cantor Fitzgerald upgraded shares of Science Applications International to a “hold” rating in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company boosted their target price on shares of Science Applications International from $139.00 to $148.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $134.00.

Insider Activity at Science Applications International

In related news, Director John K. Tien, Jr. purchased 215 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was bought at an average price of $116.50 per share, with a total value of $25,047.50. Following the completion of the purchase, the director now owns 919 shares in the company, valued at approximately $107,063.50. This represents a 30.54 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Toni Townes-Whitley acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was bought at an average cost of $111.67 per share, for a total transaction of $223,340.00. Following the completion of the purchase, the chief executive officer now owns 45,183 shares of the company’s stock, valued at $5,045,585.61. This trade represents a 4.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 2,815 shares of company stock worth $314,652 in the last quarter. 0.67% of the stock is owned by insiders.

Science Applications International Price Performance

Shares of NYSE:SAIC opened at $115.70 on Thursday. Science Applications International Co. has a one year low of $94.68 and a one year high of $156.34. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 19.51 and a beta of 0.66. The firm has a 50 day simple moving average of $106.08 and a 200 day simple moving average of $121.20.

Science Applications International (NYSE:SAIC) last announced its quarterly earnings results on Monday, March 17th. The information technology services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.57. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Science Applications International had a return on equity of 24.18% and a net margin of 4.11%. Science Applications International’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.43 EPS. Research analysts predict that Science Applications International Co. will post 8.27 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Friday, April 11th. Science Applications International’s dividend payout ratio is currently 20.58%.

Science Applications International 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.