Knightsbridge Asset Management Lowers stake in Science Applications International Corp (SAIC)

Science Applications International Corp (SAIC) : Knightsbridge Asset Management reduced its stake in Science Applications International Corp by 35.67% during the most recent quarter end. The investment management company now holds a total of 105,625 shares of Science Applications International Corp which is valued at $6,464,250 after selling 58,565 shares in Science Applications International Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Science Applications International Corp makes up approximately 5.57% of Knightsbridge Asset Management’s portfolio.

Other Hedge Funds, Including , Fiduciary Trust Co sold out all of its stake in SAIC during the most recent quarter. The investment firm sold 5,000 shares of SAIC which is valued $306,000.Fmr boosted its stake in SAIC in the latest quarter, The investment management firm added 1,473,440 additional shares and now holds a total of 3,686,573 shares of Science Applications International Corp which is valued at $225,618,268. Science Applications International Corp makes up approx 0.03% of Fmr’s portfolio.Wedge Capital Management L L Pnc reduced its stake in SAIC by selling 333,169 shares or 98.17% in the most recent quarter. The Hedge Fund company now holds 6,211 shares of SAIC which is valued at $377,380.

Science Applications International Corp opened for trading at $63.84 and hit $64.21 on the upside on Thursday, eventually ending the session at $64, with a gain of 0.30% or 0.19 points. The heightened volatility saw the trading volume jump to 1,84,216 shares. Company has a market cap of $2,869 M.

On the company’s financial health, Science Applications International Corp reported $0.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jun 13, 2016. Analyst had a consensus of $0.74. The company had revenue of $1215.00 million for the quarter, compared to analysts expectations of $1152.53 million. The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS.

Many Wall Street Analysts have commented on Science Applications International Corp. Company shares were Reiterated by Jefferies on Jun 15, 2016 to “Buy”, Firm has raised the Price Target to $ 68 from a previous price target of $61 .Science Applications International Corp was Downgraded by Wells Fargo to ” Market Perform” on Jun 13, 2016.

Science Applications International Corporation (SAIC) is a technology integrator. The Company provides life cycle services and solutions in the technical engineering intelligence and enterprise information technology (IT) markets. It provides services to the United States Government including the Department of Defense (DoD) and federal civilian agencies. It provides systems engineering and integration services for projects and offers services with an emphasis on differentiated technology services. SAIC offers products to four branches of the United States military; United States Defense Logistics Agency; National Aeronautics and Space Administration; United States Department of State and United States Department of Homeland Security. SAIC’s offerings include engineering and maintenance of ground and maritime systems logistics training and simulation and services spanning the design development integration deployment management and operations sustainment and security.

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