PNC Financial Services Group Inc. Purchases 4,239 Shares of Science Applications International Corp (NYSE:SAIC)

PNC Financial Services Group Inc. lifted its stake in shares of Science Applications International Corp (NYSE:SAIC) by 22.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,776 shares of the information technology services provider’s stock after acquiring an additional 4,239 shares during the period. PNC Financial Services Group Inc.’s holdings in Science Applications International were worth $1,700,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in SAIC. AE Wealth Management LLC grew its position in Science Applications International by 4.0% during the first quarter. AE Wealth Management LLC now owns 3,452 shares of the information technology services provider’s stock valued at $258,000 after buying an additional 134 shares during the period. Parkside Financial Bank & Trust raised its stake in Science Applications International by 26.5% in the first quarter. Parkside Financial Bank & Trust now owns 741 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 155 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Science Applications International by 4.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,061 shares of the information technology services provider’s stock valued at $353,000 after purchasing an additional 160 shares in the last quarter. Amalgamated Bank raised its stake in shares of Science Applications International by 1.5% during the fourth quarter. Amalgamated Bank now owns 11,119 shares of the information technology services provider’s stock worth $968,000 after acquiring an additional 169 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in shares of Science Applications International by 0.5% during the fourth quarter. Texas Permanent School Fund now owns 33,561 shares of the information technology services provider’s stock worth $2,920,000 after acquiring an additional 179 shares in the last quarter. Institutional investors own 75.48% of the company’s stock.

In other news, Director Yvette Kanouff acquired 1,500 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were acquired at an average cost of $70.35 per share, with a total value of $105,525.00. Following the acquisition, the director now directly owns 2,399 shares of the company’s stock, valued at $168,769.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nazzic S. Keene acquired 14,300 shares of the firm’s stock in a transaction dated Friday, April 3rd. The shares were purchased at an average cost of $70.75 per share, for a total transaction of $1,011,725.00. Following the completion of the acquisition, the chief executive officer now directly owns 51,707 shares in the company, valued at $3,658,270.25. The disclosure for this purchase can be found here. 1.64% of the stock is owned by corporate insiders.

Several equities analysts have recently issued reports on the company. SunTrust Banks lowered their price target on Science Applications International from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Citigroup decreased their target price on Science Applications International from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Wells Fargo & Co boosted their target price on Science Applications International from $85.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Benchmark cut their price target on Science Applications International from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Finally, Stifel Nicolaus upgraded Science Applications International from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research note on Thursday, April 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $99.73.

SAIC stock opened at $87.90 on Wednesday. Science Applications International Corp has a 1-year low of $45.45 and a 1-year high of $96.80. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.27 and a quick ratio of 1.19. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 22.95 and a beta of 1.07. The business has a 50 day simple moving average of $81.29 and a two-hundred day simple moving average of $83.21.

Science Applications International (NYSE:SAIC) last posted its quarterly earnings results on Thursday, March 26th. The information technology services provider reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.24. Science Applications International had a return on equity of 25.09% and a net margin of 3.54%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the company posted $1.17 EPS. The firm’s revenue for the quarter was up 29.2% compared to the same quarter last year. Sell-side analysts anticipate that Science Applications International Corp will post 6.1 EPS for the current fiscal year.

Science Applications International Profile

Science Applications International Corp. engages in the provision of full life cycle services and solutions in the technical, engineering, intelligence, and enterprise information technology markets. It offers technology and equipment platform integration; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; and end-to-end services such as the design, development, integration, deployment, management and operations, and sustainment and security of its customer’s information technology infrastructure.

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