Corebridge Financial Inc. Sells 4,549 Shares of Science Applications International Co. (NYSE:SAIC)

Corebridge Financial Inc. reduced its stake in Science Applications International Co. (NYSE:SAIC) by 7.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,032 shares of the information technology services provider’s stock after selling 4,549 shares during the period. Corebridge Financial Inc. owned 0.11% of Science Applications International worth $6,263,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SAIC. Cornerstone Planning Group LLC acquired a new position in Science Applications International in the fourth quarter valued at about $28,000. Quarry LP acquired a new stake in shares of Science Applications International in the 3rd quarter valued at approximately $71,000. Jones Financial Companies Lllp boosted its stake in Science Applications International by 32.3% during the 4th quarter. Jones Financial Companies Lllp now owns 639 shares of the information technology services provider’s stock worth $71,000 after acquiring an additional 156 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Science Applications International by 33.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the information technology services provider’s stock valued at $75,000 after purchasing an additional 167 shares during the period. Finally, Tidal Investments LLC bought a new stake in Science Applications International in the third quarter valued at approximately $200,000. 76.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. TD Cowen cut shares of Science Applications International from a “buy” rating to a “hold” rating and reduced their price target for the stock from $155.00 to $120.00 in a research report on Wednesday, January 8th. Cantor Fitzgerald upgraded Science Applications International to a “hold” rating in a report on Tuesday, February 25th. Truist Financial lowered their price target on Science Applications International from $135.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. Wells Fargo & Company lifted their price objective on Science Applications International from $139.00 to $148.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. Finally, StockNews.com raised Science Applications International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $134.00.

Science Applications International Trading Up 1.1 %

NYSE:SAIC opened at $112.53 on Friday. The company has a market cap of $5.37 billion, a P/E ratio of 18.98 and a beta of 0.66. Science Applications International Co. has a twelve month low of $94.68 and a twelve month high of $156.34. The business has a 50 day moving average price of $106.36 and a two-hundred day moving average price of $121.65. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20.

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

Science Applications International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, April 11th. This represents a $1.48 annualized dividend and a yield of 1.32%. Science Applications International’s payout ratio is presently 20.58%.

Insider Activity at Science Applications International

In other news, Director Katharina G. Mcfarland sold 3,239 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $117.70, for a total value of $381,230.30. Following the completion of the sale, the director now owns 6,864 shares of the company’s stock, valued at approximately $807,892.80. This represents a 32.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Milford W. Mcguirt bought 500 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average price of $110.58 per share, for a total transaction of $55,290.00. Following the completion of the acquisition, the director now owns 6,841 shares of the company’s stock, valued at $756,477.78. The trade was a 7.89 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.67% of the company’s stock.

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.