Van ECK Associates Corp Increases Position in Science Applications International Co. (NYSE:SAIC)

Van ECK Associates Corp increased its position in shares of Science Applications International Co. (NYSE:SAIC) by 30.4% during the fourth quarter, Holdings Channel reports. The fund owned 326,793 shares of the information technology services provider’s stock after acquiring an additional 76,204 shares during the quarter. Van ECK Associates Corp’s holdings in Science Applications International were worth $36,529,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SAIC. Cornerstone Planning Group LLC purchased a new position in shares of Science Applications International during the 4th quarter worth $28,000. GAMMA Investing LLC increased its stake in Science Applications International by 236.0% in the third quarter. GAMMA Investing LLC now owns 289 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 203 shares during the last quarter. Quarry LP purchased a new position in Science Applications International during the third quarter worth about $71,000. Covestor Ltd boosted its stake in Science Applications International by 45.1% in the 3rd quarter. Covestor Ltd now owns 1,355 shares of the information technology services provider’s stock worth $189,000 after buying an additional 421 shares during the last quarter. Finally, Tidal Investments LLC purchased a new stake in Science Applications International in the 3rd quarter valued at about $200,000. 76.00% of the stock is owned by hedge funds and other institutional investors.

Science Applications International Stock Performance

Shares of SAIC stock opened at $100.22 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20. The company has a market cap of $4.90 billion, a PE ratio of 16.90 and a beta of 0.66. The company’s fifty day simple moving average is $112.18 and its 200-day simple moving average is $126.49. Science Applications International Co. has a 52 week low of $99.32 and a 52 week high of $156.34.

Science Applications International Announces Dividend

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

Insiders Place Their Bets

In other news, Director Katharina G. Mcfarland sold 3,239 shares of the business’s 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 directly owns 6,864 shares of the company’s stock, valued at approximately $807,892.80. The trade was a 32.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Barbara Supplee purchased 425 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average cost of $116.36 per share, with a total value of $49,453.00. Following the completion of the acquisition, the executive vice president now owns 3,579 shares in the company, valued at approximately $416,452.44. This represents a 13.47 % increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. TD Cowen downgraded shares of Science Applications International from a “buy” rating to a “hold” rating and dropped their price objective for the company from $155.00 to $120.00 in a research note on Wednesday, January 8th. UBS Group began 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 target for the company. The Goldman Sachs Group decreased their price target on shares of Science Applications International from $124.00 to $103.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price objective on Science Applications International from $170.00 to $148.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Finally, StockNews.com raised Science Applications International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $137.22.

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.