Parsons Capital Management Inc. RI Decreases Stock Holdings in Science Applications International Co. (NYSE:SAIC)

Parsons Capital Management Inc. RI decreased its position in Science Applications International Co. (NYSE:SAIC) by 10.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 21,316 shares of the information technology services provider’s stock after selling 2,485 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Science Applications International were worth $2,383,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SAIC. Envestnet Asset Management Inc. increased its position in shares of Science Applications International by 12.1% during the second quarter. Envestnet Asset Management Inc. now owns 28,223 shares of the information technology services provider’s stock valued at $3,318,000 after buying an additional 3,048 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in Science Applications International by 12.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 3,583 shares of the information technology services provider’s stock worth $421,000 after acquiring an additional 383 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Science Applications International during the second quarter worth about $306,000. Bank of Montreal Can lifted its stake in shares of Science Applications International by 1.2% in the second quarter. Bank of Montreal Can now owns 7,425 shares of the information technology services provider’s stock worth $878,000 after buying an additional 90 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Science Applications International in the second quarter worth approximately $909,000. Hedge funds and other institutional investors own 76.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SAIC. The Goldman Sachs Group dropped their target price on shares of Science Applications International from $124.00 to $103.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Citigroup increased their price objective on shares of Science Applications International from $160.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. TD Cowen downgraded shares of Science Applications International from a “buy” rating to a “hold” rating and lowered their price objective for the company from $155.00 to $120.00 in a research report on Wednesday, January 8th. UBS Group initiated coverage on shares of Science Applications International in a research report on Monday, December 2nd. They set a “neutral” rating and a $134.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of Science Applications International from $154.00 to $149.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Science Applications International has an average rating of “Hold” and a consensus price target of $139.38.

Science Applications International Stock Performance

SAIC opened at $109.96 on Monday. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 18.58 and a beta of 0.66. The company has a fifty day moving average of $116.39 and a 200 day moving average of $127.84. Science Applications International Co. has a fifty-two week low of $107.59 and a fifty-two week high of $156.34. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87.

Science Applications International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 10th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.48 annualized dividend and a yield of 1.35%. Science Applications International’s dividend payout ratio (DPR) is currently 24.96%.

Insider Buying and Selling at Science Applications International

In other Science Applications International news, EVP Barbara Supplee acquired 425 shares of the stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of $116.36 per share, for a total transaction of $49,453.00. Following the completion of the transaction, the executive vice president now directly owns 3,579 shares of the company’s stock, valued at $416,452.44. This trade represents a 13.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katharina G. Mcfarland sold 3,239 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $117.70, for a total transaction of $381,230.30. Following the transaction, the director now owns 6,864 shares of the company’s stock, valued at $807,892.80. This trade represents a 32.06 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

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.