Freedom Investment Management Inc. Reduces Stake in Science Applications International Co. (NYSE:SAIC)

Freedom Investment Management Inc. lowered its stake in shares of Science Applications International Co. (NYSE:SAIC) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,240 shares of the information technology services provider’s stock after selling 177 shares during the period. Freedom Investment Management Inc.’s holdings in Science Applications International were worth $312,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Fifth Third Bancorp lifted its holdings in Science Applications International by 30.4% during the second quarter. Fifth Third Bancorp now owns 360 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 84 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Science Applications International by 0.5% during the 2nd quarter. Cetera Investment Advisers now owns 19,060 shares of the information technology services provider’s stock valued at $2,240,000 after buying an additional 87 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Science Applications International by 1.2% during the 2nd quarter. Bank of Montreal Can now owns 7,425 shares of the information technology services provider’s stock valued at $878,000 after buying an additional 90 shares in the last quarter. CWM LLC boosted its holdings in Science Applications International by 56.8% in the 2nd quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock worth $48,000 after buying an additional 147 shares during the period. Finally, Arizona State Retirement System grew its stake in Science Applications International by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 14,460 shares of the information technology services provider’s stock valued at $1,700,000 after buying an additional 152 shares in the last quarter. Institutional investors own 76.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SAIC shares. Barclays raised 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. JPMorgan Chase & Co. raised Science Applications International from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $150.00 to $170.00 in a report on Wednesday, October 2nd. Citigroup upped their price target on 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 raised their price objective on shares of Science Applications International from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company raised shares of Science Applications International from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $157.00 to $147.00 in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.00.

Science Applications International Price Performance

Shares of Science Applications International stock opened at $124.25 on Friday. The company’s fifty day simple moving average is $139.60 and its two-hundred day simple moving average is $129.95. Science Applications International Co. has a 12-month low of $112.00 and a 12-month high of $156.34. The firm has a market cap of $6.15 billion, a PE ratio of 22.35 and a beta of 0.70. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21.

Science Applications International (NYSE:SAIC) last posted its earnings results on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.19. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. Science Applications International’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $2.05 earnings per share. As a group, equities analysts expect that Science Applications International Co. will post 8.21 EPS for the current year.

Science Applications International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.19%. Science Applications International’s dividend 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.