Allspring Global Investments Holdings LLC, a prominent institutional investor, has decreased its position in Science Applications International Co. (SAIC) by 26.4% during the second quarter, according to a report by Holdings Channel. The firm sold 6,811 shares of SAIC’s stock, resulting in a total of 19,024 shares remaining in its portfolio. The value of Allspring Global Investments Holdings LLC’s holdings in Science Applications International stood at $2,236,000 at the end of the quarter.
This reduction in stake by Allspring Global Investments Holdings LLC is part of a broader trend, as several other institutional investors and hedge funds have also recently adjusted their positions in SAIC. International Assets Investment Management LLC increased its holdings in SAIC by a staggering 12,348.8% during the fourth quarter, now owning 91,872 shares of the company’s stock. Van ECK Associates Corp raised its stake by 66.9% in the same period, holding 27,624 shares. Victory Capital Management Inc. and Lincoln National Corp also increased their positions, while Charles Schwab Investment Management Inc. added 6,189 shares to its holdings.
Science Applications International Co. is listed on the New York Stock Exchange under the ticker symbol SAIC. The company’s stock opened at $130.59 on Tuesday. SAIC has a 12-month low of $104.26 and a 12-month high of $145.17. With a market capitalization of $6.69 billion, SAIC operates in the information technology services sector. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.95, and a quick ratio of 0.95. SAIC’s fifty-day moving average price is $121.65, while its 200-day moving average price is $127.37. The stock has a price-to-earnings ratio of 15.29 and a beta of 0.69.
In terms of dividends, Science Applications International recently declared a quarterly dividend, which was paid on July 26th. Shareholders of record on July 12th received a dividend of $0.37 per share. This represents an annualized dividend of $1.48 and a yield of 1.13%. The dividend payout ratio for SAIC currently stands at 17.33%.
Several research reports have been issued on SAIC. StockNews.com downgraded the company’s shares from a “buy” rating to a “hold” rating in a research report on June 4th. JPMorgan Chase & Co. lowered their target price on SAIC from $140.00 to $132.00 and assigned a “neutral” rating for the stock on July 10th. Truist Financial also reduced their price target from $130.00 to $125.00 and maintained a “hold” rating on June 4th. Currently, SAIC has a consensus rating of “Hold” and an average target price of $125.00, according to MarketBeat.com.
In terms of insider trading, CFO Prabu Natarajan recently acquired 2,000 shares of SAIC stock at an average price of $114.85 per share, totaling $229,700. Following this acquisition, Natarajan now holds 60,630 shares in the company, valued at approximately $6,963,355.50. Another insider, EVP James Joshua Jackson, purchased 400 shares of SAIC stock on July 10th at an average cost of $114.28 per share, amounting to $45,712. Following this transaction, Jackson now owns 13,677 shares valued at $1,563,007.56. Insiders have acquired a total of 3,715 shares worth $430,207 over the past three months, representing 0.67% of the company’s stock.
Science Applications International Corporation is a leading provider of technical, engineering, and enterprise information technology services primarily in the United States. The company offers a wide range of services, including IT modernization, digital engineering, artificial intelligence, weapon systems support, and end-to-end IT infrastructure management. SAIC also provides training and simulation services and supports the integration, modification, upgrade, and sustainment of ground vehicles for the nation’s armed forces.