Sandy Spring Bank Acquires 7,209 Shares of Science Applications International Corporation (SAIC)

Sandy Spring Bank lifted its stake in Science Applications International Corporation (NYSE:SAIC) by 35.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,722 shares of the information technology services provider’s stock after acquiring an additional 7,209 shares during the period. Sandy Spring Bank owned 0.06% of Science Applications International Corporation worth $1,925,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ronna Sue Cohen raised its position in shares of Science Applications International Corporation by 0.4% in the 1st quarter. Ronna Sue Cohen now owns 5,753 shares of the information technology services provider’s stock worth $428,000 after acquiring an additional 21 shares in the last quarter. Sei Investments Co. raised its position in shares of Science Applications International Corporation by 2.9% in the 1st quarter. Sei Investments Co. now owns 1,385 shares of the information technology services provider’s stock worth $103,000 after acquiring an additional 39 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Science Applications International Corporation by 2.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,953 shares of the information technology services provider’s stock worth $143,000 after acquiring an additional 47 shares in the last quarter. Creative Planning raised its position in shares of Science Applications International Corporation by 0.3% in the 2nd quarter. Creative Planning now owns 16,613 shares of the information technology services provider’s stock worth $1,153,000 after acquiring an additional 51 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Science Applications International Corporation by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 18,400 shares of the information technology services provider’s stock worth $1,277,000 after acquiring an additional 100 shares in the last quarter. 64.42% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Douglas Martin Wagoner sold 30,072 shares of Science Applications International Corporation stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $68.95, for a total value of $2,073,464.40. Following the transaction, the insider now owns 8,859 shares in the company, valued at approximately $610,828.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.28% of the company’s stock.

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Shares of Science Applications International Corporation (NYSE:SAIC) traded down 0.75% during mid-day trading on Friday, hitting $64.67. The stock had a trading volume of 351,412 shares. Science Applications International Corporation has a 52-week low of $60.21 and a 52-week high of $89.87. The firm has a 50 day moving average price of $69.46 and a 200 day moving average price of $73.82. The firm has a market cap of $2.80 billion, a PE ratio of 18.06 and a beta of 1.64.

Science Applications International Corporation (NYSE:SAIC) last announced its earnings results on Thursday, September 7th. The information technology services provider reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Science Applications International Corporation had a return on equity of 48.69% and a net margin of 3.77%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 EPS. Equities analysts predict that Science Applications International Corporation will post $3.61 EPS for the current year.

SAIC has been the topic of several recent analyst reports. BidaskClub lowered Science Applications International Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC lowered Science Applications International Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Zacks Investment Research lowered Science Applications International Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 8th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $75.00 target price (down from $80.00) on shares of Science Applications International Corporation in a research report on Tuesday, June 13th. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $80.00 target price (down from $83.00) on shares of Science Applications International Corporation in a research report on Friday, September 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $80.00.

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.

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

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