Algert Global LLC Purchases New Position in Science Applications International Co. (NYSE:SAIC)

Algert Global LLC acquired a new position in Science Applications International Co. (NYSE:SAIC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 34,586 shares of the information technology services provider's stock, valued at approximately $3,866,000. Algert Global LLC owned 0.07% of Science Applications International at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SAIC. Empowered Funds LLC boosted its stake in Science Applications International by 18.7% in the 4th quarter. Empowered Funds LLC now owns 5,549 shares of the information technology services provider's stock worth $620,000 after purchasing an additional 874 shares during the period. First Citizens Bank & Trust Co. bought a new position in shares of Science Applications International in the fourth quarter valued at approximately $312,000. Pure Financial Advisors LLC grew its stake in Science Applications International by 19.0% during the fourth quarter. Pure Financial Advisors LLC now owns 18,447 shares of the information technology services provider's stock valued at $2,062,000 after acquiring an additional 2,946 shares in the last quarter. Truist Financial Corp increased its holdings in Science Applications International by 6.4% during the 4th quarter. Truist Financial Corp now owns 3,850 shares of the information technology services provider's stock worth $430,000 after acquiring an additional 233 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in Science Applications International in the 4th quarter worth approximately $1,414,000. 76.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Toni Townes-Whitley purchased 2,000 shares of the company's stock in a transaction dated Friday, March 28th. The shares were purchased at an average cost of $111.67 per share, for a total transaction of $223,340.00. Following the purchase, the chief executive officer now directly owns 45,183 shares in the company, valued at approximately $5,045,585.61. This represents a 4.63 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Milford W. Mcguirt bought 500 shares of the stock in a transaction on Thursday, March 27th. The stock was purchased at an average cost of $110.58 per share, for a total transaction of $55,290.00. Following the acquisition, the director now owns 6,841 shares of the company's stock, valued at $756,477.78. This trade represents a 7.89 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,260 shares of company stock valued at $365,037 over the last ninety days. 0.67% of the stock is currently owned by corporate insiders.

Science Applications International Price Performance

Shares of NYSE SAIC opened at $121.29 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87. The company has a 50 day simple moving average of $112.32 and a two-hundred day simple moving average of $116.91. Science Applications International Co. has a fifty-two week low of $94.68 and a fifty-two week high of $156.34. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 20.45 and a beta of 0.55.

Science Applications International (NYSE:SAIC - Get Free Report) last announced its quarterly earnings data on Monday, March 17th. The information technology services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.00 by $0.57. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. Science Applications International's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 EPS. Analysts expect that Science Applications International Co. will post 8.27 EPS for the current fiscal year.

Science Applications International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, April 11th. Science Applications International's dividend payout ratio is currently 20.58%.

Analyst Ratings Changes

SAIC has been the topic of several research analyst reports. UBS Group upped their price target on shares of Science Applications International from $123.00 to $126.00 and gave the stock a "neutral" rating in a report on Tuesday, March 18th. TD Cowen cut Science Applications International from a "buy" rating to a "hold" rating and lowered their price target for the company from $155.00 to $120.00 in a report on Wednesday, January 8th. Cantor Fitzgerald raised Science Applications International to a "hold" rating in a report on Tuesday, February 25th. Wells Fargo & Company dropped their target price on shares of Science Applications International from $148.00 to $132.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of Science Applications International from $148.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $131.33.

About Science Applications International

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.

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