Allspring Global Investments Holdings LLC Grows Stock Holdings in Science Applications International Co. (NYSE:SAIC)

Allspring Global Investments Holdings LLC lifted its position in shares of Science Applications International Co. (NYSE:SAIC) by 192.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,835 shares of the information technology services provider’s stock after purchasing an additional 17,010 shares during the period. Allspring Global Investments Holdings LLC owned 0.05% of Science Applications International worth $3,369,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SAIC. Norges Bank purchased a new stake in Science Applications International in the fourth quarter worth $75,040,000. First Trust Advisors LP increased its position in shares of Science Applications International by 14.8% during the fourth quarter. First Trust Advisors LP now owns 1,810,505 shares of the information technology services provider’s stock valued at $225,082,000 after buying an additional 233,075 shares during the period. Wellington Management Group LLP boosted its position in Science Applications International by 5.0% during the 4th quarter. Wellington Management Group LLP now owns 4,062,059 shares of the information technology services provider’s stock valued at $504,995,000 after acquiring an additional 194,160 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Science Applications International by 3,071.0% during the third quarter. Qube Research & Technologies Ltd now owns 134,195 shares of the information technology services provider’s stock valued at $14,163,000 after purchasing an additional 129,963 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Science Applications International by 12,348.8% during the fourth quarter. International Assets Investment Management LLC now owns 91,872 shares of the information technology services provider’s stock valued at $11,422,000 after purchasing an additional 91,134 shares in the last quarter. 76.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Science Applications International

In related news, CEO Toni Townes-Whitley purchased 3,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was purchased at an average price of $125.96 per share, with a total value of $377,880.00. Following the completion of the purchase, the chief executive officer now owns 46,795 shares of the company’s stock, valued at approximately $5,894,298.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Science Applications International news, EVP Vincent P. Difronzo acquired 795 shares of Science Applications International 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 completion of the purchase, the executive vice president now directly owns 8,772 shares of the company’s stock, valued at approximately $1,105,622.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Toni Townes-Whitley bought 3,000 shares of the company’s stock in a transaction on Friday, April 12th. The shares were bought at an average cost 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 in the company, valued at approximately $5,894,298.20. The disclosure for this purchase can be found here. Insiders purchased a total of 6,010 shares of company stock valued at $732,877 in the last three months. Company insiders own 0.67% of the company’s stock.

Science Applications International Stock Performance

Science Applications International stock traded up $0.62 during mid-day trading on Tuesday, reaching $116.39. 13,019 shares of the stock traded hands, compared to its average volume of 303,149. The stock has a market capitalization of $5.96 billion, a PE ratio of 13.58 and a beta of 0.69. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.95 and a quick ratio of 0.95. The business’s 50-day moving average is $126.62 and its 200-day moving average is $129.01. Science Applications International Co. has a 12-month low of $104.26 and a 12-month high of $145.17.

Science Applications International (NYSE:SAIC) last issued its quarterly earnings data on Monday, June 3rd. The information technology services provider reported $1.92 earnings per share for the quarter, hitting the consensus estimate of $1.92. Science Applications International had a net margin of 6.28% and a return on equity of 22.56%. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the business earned $2.14 EPS. The business’s quarterly revenue was down 8.8% on a year-over-year basis. As a group, sell-side analysts predict that Science Applications International Co. will post 8.1 EPS for the current fiscal year.

Science Applications International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, July 12th. This represents a $1.48 dividend on an annualized basis and a yield of 1.27%. Science Applications International’s payout ratio is 17.33%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their target price 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. decreased their target price on shares of Science Applications International from $142.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, March 19th. StockNews.com cut Science Applications International from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th. Finally, Truist Financial lowered their price objective on Science Applications International from $130.00 to $125.00 and set a “hold” rating for the company in a research note on Tuesday, June 4th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Science Applications International currently has a consensus rating of “Hold” and an average price target of $126.60.

About Science Applications International

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.