Engineers Gate Manager LP Invests $1.61 Million in Science Applications International Corporation $SAIC

Key Points

• Engineers Gate Manager LP acquired 14,552 shares of Science Applications International, valued at approximately $1.61 million. Institutional investors collectively own about 76% of SAIC’s outstanding stock.
• SAIC reported quarterly earnings of $3.01 per share, beating the $2.31 consensus estimate, while revenue rose 6.3% year over year to $1.88 billion.
• The company declared a quarterly dividend of $0.37 per share, equivalent to an annualized $1.48 payout and a 1.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $125.22.

Engineers Gate Manager LP bought a new stake in shares of Science Applications International Corporation (NASDAQ:SAIC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 14,552 shares of the company's stock, valued at approximately $1,607,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP raised its holdings in shares of Science Applications International by 10.3% in the 2nd quarter. Allworth Financial LP now owns 1,720 shares of the company's stock worth $190,000 after purchasing an additional 160 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Science Applications International by 4.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,659 shares of the company's stock valued at $469,000 after buying an additional 187 shares during the period. First Citizens Bank & Trust Co. boosted its position in Science Applications International by 3.4% during the first quarter. First Citizens Bank & Trust Co. now owns 6,557 shares of the company's stock valued at $622,000 after purchasing an additional 217 shares during the last quarter. HB Wealth Management LLC lifted its holdings in shares of Science Applications International by 1.2% during the 2nd quarter. HB Wealth Management LLC now owns 18,974 shares of the company's stock valued at $2,095,000 after buying an additional 219 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in Science Applications International by 5.0% in the second quarter. Concurrent Investment Advisors LLC now owns 5,523 shares of the company's stock worth $610,000 after buying an additional 261 shares during the last quarter. Institutional investors own 76.00% of the company's stock.

Science Applications International Trading Down 0.8%

SAIC stock opened at $132.62 on Thursday. The business has a fifty day moving average price of $123.01 and a 200 day moving average price of $108.27. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 15.51 and a beta of 0.30. Science Applications International Corporation has a fifty-two week low of $81.08 and a fifty-two week high of $142.66.

Science Applications International (NASDAQ:SAIC - Get Free Report) last announced its earnings results on Monday, August 31st. The company reported $3.01 earnings per share for the quarter, topping analysts' consensus estimates of $2.31 by $0.70. Science Applications International had a net margin of 5.13% and a return on equity of 34.68%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm posted $3.63 earnings per share. The company's revenue was up 6.3% on a year-over-year basis. Analysts expect that Science Applications International Corporation will post 10.78 EPS for the current fiscal year.

Science Applications International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 9th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.48 annualized dividend and a yield of 1.1%. Science Applications International's dividend payout ratio is currently 17.31%.

Wall Street Analyst Weigh In

SAIC has been the subject of several recent research reports. Wall Street Zen raised shares of Science Applications International from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 30th. JPMorgan Chase & Co. boosted their target price on shares of Science Applications International from $110.00 to $125.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 2nd. Truist Financial raised their price objective on Science Applications International from $110.00 to $130.00 and gave the stock a "hold" rating in a research report on Tuesday, September 1st. UBS Group raised their price objective on shares of Science Applications International from $108.00 to $123.00 and gave the stock a "neutral" rating in a report on Tuesday, September 1st. Finally, Jefferies Financial Group boosted their price target on Science Applications International from $130.00 to $140.00 and gave the company a "hold" rating in a research note on Tuesday, September 1st. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $125.22.

Science Applications International Company Profile

Science Applications International Corporation (SAIC) is a technology integrator and government services contractor that provides mission-critical solutions to the U.S. government. The company supports defense, intelligence, space, civilian, and federal law enforcement organizations with services designed to improve operational performance, modernize legacy systems, and address complex national security and public-sector challenges.

SAIC's offerings include information technology modernization, cloud computing, cybersecurity, artificial intelligence and data analytics, digital engineering, software development, systems integration, and enterprise IT services.

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