State of Michigan Retirement System Trims Stock Position in Science Applications International Co. (NYSE:SAIC)

State of Michigan Retirement System reduced its stake in Science Applications International Co. (NYSE:SAIC) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,755 shares of the information technology services provider’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in Science Applications International were worth $1,314,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SAIC. Jones Financial Companies Lllp increased its stake in Science Applications International by 32.3% in the 4th quarter. Jones Financial Companies Lllp now owns 639 shares of the information technology services provider’s stock valued at $71,000 after buying an additional 156 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Science Applications International in the fourth quarter valued at about $1,649,000. Bank of New York Mellon Corp increased its stake in shares of Science Applications International by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 523,326 shares of the information technology services provider’s stock worth $58,497,000 after acquiring an additional 31,374 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Science Applications International in the fourth quarter valued at about $1,629,000. Finally, Abound Financial LLC purchased a new stake in Science Applications International in the 4th quarter valued at approximately $497,000. Institutional investors and hedge funds own 76.00% of the company’s stock.

Insider Activity at Science Applications International

In related news, EVP Barbara Supplee purchased 425 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of $116.36 per share, for a total transaction of $49,453.00. Following the acquisition, the executive vice president now directly owns 3,579 shares in the company, valued at $416,452.44. This trade represents a 13.47 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Katharina G. Mcfarland sold 3,239 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $117.70, for a total value of $381,230.30. Following the sale, the director now 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 disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Science Applications International Stock Up 8.9 %

Shares of NYSE SAIC opened at $111.25 on Friday. The firm has a market cap of $5.44 billion, a P/E ratio of 18.76 and a beta of 0.66. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87. Science Applications International Co. has a 1 year low of $94.68 and a 1 year high of $156.34. The firm’s 50 day moving average price is $108.03 and its 200 day moving average price is $123.91.

Science Applications International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 10th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Friday, January 10th. Science Applications International’s dividend payout ratio is currently 24.96%.

Analyst Ratings Changes

SAIC has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target 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. Cantor Fitzgerald upgraded shares of Science Applications International to a “hold” rating in a research report on Tuesday, February 25th. TD Cowen downgraded shares of Science Applications International from a “buy” rating to a “hold” rating and cut their price target for the company from $155.00 to $120.00 in a report on Wednesday, January 8th. Wells Fargo & Company dropped their target price on shares of Science Applications International from $149.00 to $139.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group decreased their target price on Science Applications International from $124.00 to $103.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $136.11.

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.