Convergence Investment Partners LLC raised its stake in shares of Science Applications International Corporation (NYSE:SAIC) by 95.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 65,838 shares of the information technology services provider’s stock after buying an additional 32,227 shares during the period. Science Applications International Corporation makes up 0.7% of Convergence Investment Partners LLC’s portfolio, making the stock its 19th largest position. Convergence Investment Partners LLC’s holdings in Science Applications International Corporation were worth $4,570,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in SAIC. Smith Asset Management Group LP boosted its position in Science Applications International Corporation by 0.7% in the second quarter. Smith Asset Management Group LP now owns 45,653 shares of the information technology services provider’s stock valued at $3,169,000 after buying an additional 330 shares during the period. Teacher Retirement System of Texas boosted its position in Science Applications International Corporation by 3.5% in the second quarter. Teacher Retirement System of Texas now owns 3,521 shares of the information technology services provider’s stock valued at $244,000 after buying an additional 119 shares during the period. Arizona State Retirement System boosted its position in Science Applications International Corporation by 0.5% in the second quarter. Arizona State Retirement System now owns 18,400 shares of the information technology services provider’s stock valued at $1,277,000 after buying an additional 100 shares during the period. Foundry Partners LLC boosted its position in Science Applications International Corporation by 16.5% in the second quarter. Foundry Partners LLC now owns 111,492 shares of the information technology services provider’s stock valued at $7,740,000 after buying an additional 15,778 shares during the period. Finally, ARP Americas LLC acquired a new position in Science Applications International Corporation during the second quarter valued at about $448,000. 68.40% of the stock is currently owned by institutional investors and hedge funds.

Shares of Science Applications International Corporation (NYSE SAIC) opened at 69.30 on Friday. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 19.30 and a beta of 1.65. The stock has a 50 day moving average price of $70.64 and a 200 day moving average price of $76.94. Science Applications International Corporation has a 1-year low of $60.34 and a 1-year high of $89.87.

Science Applications International Corporation (NYSE:SAIC) last posted its earnings results on Monday, June 12th. The information technology services provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. Science Applications International Corporation had a net margin of 3.78% and a return on equity of 47.08%. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. Equities research analysts anticipate that Science Applications International Corporation will post $3.79 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.24 dividend on an annualized basis and a yield of 1.79%. Science Applications International Corporation’s dividend payout ratio is presently 34.54%.

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Several research firms have recently weighed in on SAIC. BidaskClub cut Science Applications International Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Jefferies Group LLC cut Science Applications International Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 17th. ValuEngine cut Science Applications International Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Wells Fargo & Company reissued a “market perform” rating and set a $75.00 price target (down from $80.00) on shares of Science Applications International Corporation in a report on Tuesday, June 13th. Finally, Zacks Investment Research cut Science Applications International Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 8th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $81.63.

In related news, insider Douglas Martin Wagoner sold 9,400 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $73.63, for a total transaction of $692,122.00. Following the completion of the transaction, the insider now directly owns 50,175 shares in the company, valued at $3,694,385.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 44,472 shares of company stock valued at $3,119,732 over the last 90 days. 2.28% of the stock is currently owned by insiders.

Science Applications International Corporation Company Profile

Science Applications International Corporation (SAIC) is a provider of technical, engineering and enterprise information technology (IT) services. The Company provides its services primarily to the United States Government, including the Department of Defense (DoD), the intelligence community and federal civilian agencies.

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Institutional Ownership by Quarter for Science Applications International Corporation (NYSE:SAIC)

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