Millennium Management LLC Boosts Holdings in Science Applications International Co. (NYSE:SAIC)

Millennium Management LLC grew its stake in shares of Science Applications International Co. (NYSE:SAIC - Free Report) by 145.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,224 shares of the information technology services provider's stock after buying an additional 50,548 shares during the period. Millennium Management LLC owned 0.17% of Science Applications International worth $9,526,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC bought a new stake in shares of Science Applications International during the fourth quarter valued at about $28,000. Kapitalo Investimentos Ltda bought a new position in shares of Science Applications International in the fourth quarter worth approximately $58,000. Jones Financial Companies Lllp increased its position in shares of Science Applications International by 32.3% in the fourth quarter. Jones Financial Companies Lllp now owns 639 shares of the information technology services provider's stock worth $71,000 after purchasing an additional 156 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Science Applications International by 33.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the information technology services provider's stock worth $75,000 after purchasing an additional 167 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Science Applications International in the fourth quarter worth approximately $77,000. 76.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SAIC. Cantor Fitzgerald upgraded shares of Science Applications International to a "hold" rating in a research report on Tuesday, February 25th. UBS Group raised their price target on Science Applications International from $123.00 to $126.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 18th. Jefferies Financial Group raised their price objective on Science Applications International from $120.00 to $130.00 and gave the company a "hold" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. reduced their price target on Science Applications International from $148.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, Wells Fargo & Company reduced their price target on Science Applications International from $148.00 to $132.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $131.20.

Science Applications International Stock Performance

NYSE SAIC traded down $0.35 during trading hours on Thursday, hitting $114.99. The company's stock had a trading volume of 415,660 shares, compared to its average volume of 514,136. Science Applications International Co. has a 12 month low of $94.68 and a 12 month high of $156.34. The company's 50 day simple moving average is $117.01 and its two-hundred day simple moving average is $114.25. The company has a market cap of $5.49 billion, a P/E ratio of 19.39 and a beta of 0.55. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.87 and a quick ratio of 0.87.

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

Science Applications International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, April 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.29%. Science Applications International's dividend payout ratio is currently 20.58%.

Insider Buying and Selling at Science Applications International

In related news, Director Milford W. Mcguirt acquired 500 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was bought at an average cost of $110.58 per share, for a total transaction of $55,290.00. Following the purchase, the director now owns 6,841 shares in the company, valued at $756,477.78. The trade was a 7.89% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Toni Townes-Whitley acquired 2,000 shares of the business's stock in a transaction that occurred on Friday, March 28th. The shares were bought at an average price of $111.67 per share, with a total value of $223,340.00. Following the completion of the purchase, the chief executive officer now owns 45,183 shares in the company, valued at $5,045,585.61. This trade represents a 4.63% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 3,260 shares of company stock worth $365,037 in the last three months. 0.44% of the stock is currently owned by company insiders.

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.