MAC Alpha Capital Management LP Has $19.31 Million Stock Position in Science Applications International Corporation $SAIC

Key Points

• MAC Alpha Capital Management increased its SAIC position by 43.8% in the second quarter, adding 53,277 shares. Its 174,892 shares were valued at approximately $19.31 million and represented 3.9% of its portfolio.
• SAIC reported quarterly revenue of $1.88 billion and adjusted earnings of $3.01 per share, exceeding analyst expectations of $1.76 billion in revenue and $2.31 EPS. Revenue rose 6.3% year over year.
• Analysts maintain a consensus “Hold” rating, with an average price target of $125.22, while SAIC recently declared a quarterly dividend of $0.37 per share, yielding about 1.1% annually.

MAC Alpha Capital Management LP increased its holdings in shares of Science Applications International Corporation (NASDAQ:SAIC - Free Report) by 43.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,892 shares of the company's stock after acquiring an additional 53,277 shares during the period. Science Applications International makes up 3.9% of MAC Alpha Capital Management LP's investment portfolio, making the stock its 5th largest holding. MAC Alpha Capital Management LP owned about 0.42% of Science Applications International worth $19,311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tidal Investments LLC increased its stake in Science Applications International by 9.4% in the 2nd quarter. Tidal Investments LLC now owns 10,449 shares of the company's stock worth $1,154,000 after buying an additional 900 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Science Applications International in the 2nd quarter valued at about $1,607,000. Baird Financial Group Inc. raised its holdings in Science Applications International by 52.9% during the 2nd quarter. Baird Financial Group Inc. now owns 20,542 shares of the company's stock valued at $2,268,000 after buying an additional 7,107 shares during the period. Allworth Financial LP boosted its stake in Science Applications International by 10.3% during the second quarter. Allworth Financial LP now owns 1,720 shares of the company's stock worth $190,000 after buying an additional 160 shares during the period. Finally, Nykredit A S purchased a new position in shares of Science Applications International during the 2nd quarter worth about $345,000. Hedge funds and other institutional investors own 76.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SAIC. Weiss Ratings raised shares of Science Applications International from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 24th. The Goldman Sachs Group boosted their target price on shares of Science Applications International from $93.00 to $103.00 and gave the company a "sell" rating in a research note on Tuesday, September 8th. TD Cowen reiterated a "hold" rating on shares of Science Applications International in a report on Monday, August 31st. UBS Group boosted their price objective on shares of Science Applications International from $108.00 to $123.00 and gave the company a "neutral" rating in a research report on Tuesday, September 1st. Finally, Truist Financial raised their target price on shares of Science Applications International from $110.00 to $130.00 and gave the stock a "hold" rating in a research report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $125.22.

Science Applications International Stock Performance

Shares of NASDAQ:SAIC opened at $133.19 on Monday. The business's fifty day simple moving average is $123.81 and its 200-day simple moving average is $108.85. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.71. Science Applications International Corporation has a 12-month low of $81.08 and a 12-month high of $142.66. The company has a market capitalization of $5.58 billion, a PE ratio of 15.58 and a beta of 0.30.

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 the consensus estimate of $2.31 by $0.70. Science Applications International had a return on equity of 34.68% and a net margin of 5.13%.The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the business earned $3.63 EPS. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts predict that Science Applications International Corporation will post 10.78 earnings per share for the current fiscal year.

Science Applications International Dividend Announcement

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

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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