Comerica Bank grew its stake in Science Applications International Corporation (NASDAQ: SAIC) by 46.2 percent during the fourth quarter, according to a Securities and Exchange Commission filing. The bank purchased an additional 19,554 shares, bringing its total holdings to 61,863 shares valued at approximately $6.2 million at the end of the reporting period.
The move reflects broader activity among institutional investors in the defense and national security contractor. Multiple firms have adjusted their positions in SAIC in recent months. Quent Capital LLC and Wexford Capital LP each established new positions during the third quarter, each valued at around $29,000. Rakuten Securities Inc. substantially expanded its holding by 1,915.4 percent during the second quarter, acquiring 249 shares to reach a total of 262 shares worth $30,000. Hantz Financial Services Inc. lifted its stake by 281.1 percent in the third quarter, purchasing an additional 343 shares to own 465 shares valued at $46,000. WFA of San Diego LLC purchased a new position during the second quarter valued at approximately $56,000.
Institutional investors collectively hold 76 percent of SAIC's outstanding stock. The company, founded in 1969, provides technical, engineering, and enterprise IT services to the U.S. government, including the Department of Defense, intelligence agencies, and civilian departments. Its service portfolio spans systems engineering, mission support, cybersecurity, data analytics, and cloud solutions.
SAIC shares opened at $96.77 on Friday, trading within a fifty-two week range of $81.08 to $124.11. The company carries a market capitalization of $4.2 billion, a debt-to-equity ratio of 1.65, and a price-to-earnings ratio of 12.58. The stock recently paid a quarterly dividend of $0.37 per share on April 24th, representing a 1.5 percent yield.
Analyst sentiment on the stock remains mixed. Citigroup maintained a "buy" rating while reducing its price target from $133 to $120. JPMorgan Chase downgraded to "neutral" and cut its target from $125 to $110. Goldman Sachs assigned a "sell" rating with a target of $82. Collectively, three analysts rate the stock as a buy, seven recommend holding, and one suggests selling, with a consensus price target of $110.78.
