The Manufacturers Life Insurance Company Has $5.96 Million Stake in Science Applications International Co. (NYSE:SAIC)

The Manufacturers Life Insurance Company cut its stake in shares of Science Applications International Co. (NYSE:SAIC) by 3.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 42,784 shares of the information technology services provider’s stock after selling 1,606 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Science Applications International were worth $5,959,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SAIC. Farther Finance Advisors LLC lifted its stake in shares of Science Applications International by 30,868.8% in the third quarter. Farther Finance Advisors LLC now owns 4,955 shares of the information technology services provider’s stock worth $690,000 after acquiring an additional 4,939 shares during the period. Seizert Capital Partners LLC raised its holdings in Science Applications International by 36.3% during the 3rd quarter. Seizert Capital Partners LLC now owns 38,803 shares of the information technology services provider’s stock worth $5,404,000 after purchasing an additional 10,326 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Science Applications International by 21.9% in the 3rd quarter. Van ECK Associates Corp now owns 250,589 shares of the information technology services provider’s stock worth $36,070,000 after purchasing an additional 44,990 shares during the period. Cassaday & Co Wealth Management LLC boosted its stake in shares of Science Applications International by 59.7% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 12,834 shares of the information technology services provider’s stock valued at $1,787,000 after purchasing an additional 4,796 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Science Applications International by 36,732.4% during the third quarter. International Assets Investment Management LLC now owns 245,672 shares of the information technology services provider’s stock worth $34,215,000 after buying an additional 245,005 shares during the period. Institutional investors own 76.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com cut shares of Science Applications International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. TD Cowen upped their target price on Science Applications International from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Truist Financial lifted their target price on Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Barclays increased their price target on Science Applications International from $135.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company upgraded shares of Science Applications International from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $157.00 to $147.00 in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Science Applications International currently has an average rating of “Hold” and an average price target of $147.13.

Science Applications International Trading Down 2.5 %

NYSE SAIC opened at $120.78 on Friday. Science Applications International Co. has a 52 week low of $112.00 and a 52 week high of $156.34. The business has a 50 day moving average price of $138.48 and a 200-day moving average price of $129.62. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 21.72 and a beta of 0.64.

Science Applications International (NYSE:SAIC) last released its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the company posted $2.05 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. As a group, equities analysts expect that Science Applications International Co. will post 8.21 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, January 10th. Science Applications International’s payout ratio is presently 26.62%.

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.