Truist Financial Corp, a financial services company, has significantly decreased its position in Science Applications International Co. (SAIC) during the second quarter, according to the company’s recent filing with the Securities & Exchange Commission. The firm sold 22,631 shares, reducing its stake in SAIC by 84.8%. Truist Financial Corp now holds 4,052 shares of the information technology services provider’s stock, valued at $476,000.
Other hedge funds and institutional investors have also made changes to their positions in SAIC. Quadrature Capital Ltd acquired a new position in SAIC in the fourth quarter, valued at approximately $950,000. Twin Tree Management LP and Cumberland Partners Ltd both purchased new positions in the first quarter, worth around $649,000 and $652,000, respectively. Additionally, Sei Investments Co. increased its stake in SAIC by 53.9% during the first quarter, now owning 86,541 shares valued at $11,284,000. Van ECK Associates Corp also raised its stake in SAIC by 234.3% during the first quarter, now holding 92,339 shares valued at $12,040,000. Overall, hedge funds and institutional investors own 76.00% of SAIC’s stock.
SAIC’s stock opened at $147.19 on Thursday, with a market capitalization of $7.29 billion. The company has a quick ratio and current ratio of 0.85, indicating its liquidity position. SAIC’s 50-day moving average price is $134.15, while its 200-day moving average price is $127.90. The stock has a 52-week low of $105.97 and a 52-week high of $148.08. With a price-to-earnings ratio of 26.47 and a beta of 0.70, SAIC remains a significant player in the information technology services sector.
In terms of dividends, SAIC recently announced a quarterly dividend of $0.37 per share, payable on October 25th to shareholders of record as of October 11th. This represents an annualized dividend of $1.48 and a yield of 1.01%. The current dividend payout ratio stands at 26.62%.
Several equities research analysts have provided their insights on SAIC. Barclays increased their price target from $135.00 to $150.00 and assigned an “equal weight” rating to the stock. JPMorgan Chase & Co. upgraded SAIC from a “neutral” rating to an “overweight” rating, raising their price target from $150.00 to $170.00. Wells Fargo & Company also raised their target price on SAIC from $122.00 to $157.00, giving the stock an “equal weight” rating. TD Cowen increased their price target from $145.00 to $155.00 and assigned a “buy” rating to the stock. MarketBeat reports that the average rating for SAIC is currently “Moderate Buy,” with a consensus price target of $150.43.
Science Applications International Corporation primarily provides technical, engineering, and enterprise information technology services in the United States. Its offerings include IT modernization, digital engineering, artificial intelligence, weapon systems support, end-to-end services, training and simulation, and ground vehicles support for the nation’s armed forces.