Pallas Capital Advisors LLC Makes New $546,000 Investment in Science Applications International Co. (NYSE:SAIC)

Pallas Capital Advisors LLC bought a new stake in Science Applications International Co. (NYSE:SAIC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,865 shares of the information technology services provider's stock, valued at approximately $546,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its stake in shares of Science Applications International by 112.1% in the first quarter. Parallel Advisors LLC now owns 280 shares of the information technology services provider's stock valued at $31,000 after buying an additional 148 shares in the last quarter. True Wealth Design LLC purchased a new stake in Science Applications International during the 4th quarter worth about $48,000. Kapitalo Investimentos Ltda purchased a new stake in Science Applications International during the 4th quarter worth about $58,000. UMB Bank n.a. increased its holdings in Science Applications International by 220.1% during the 1st quarter. UMB Bank n.a. now owns 557 shares of the information technology services provider's stock worth $63,000 after purchasing an additional 383 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in Science Applications International by 32.3% during the 4th 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 period. Hedge funds and other institutional investors own 76.00% of the company's stock.

Science Applications International Stock Performance

NYSE:SAIC traded up $0.52 during mid-day trading on Friday, reaching $105.43. 555,661 shares of the stock were exchanged, compared to its average volume of 540,089. The company has a 50 day simple moving average of $115.57 and a 200-day simple moving average of $112.12. The stock has a market capitalization of $4.94 billion, a P/E ratio of 17.78 and a beta of 0.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20. Science Applications International Co. has a 1 year low of $94.68 and a 1 year high of $156.34.

Science Applications International (NYSE:SAIC - Get Free Report) last released its quarterly earnings results on Monday, June 2nd. The information technology services provider reported $1.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.17 by ($0.25). Science Applications International had a return on equity of 24.18% and a net margin of 4.11%. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.92 EPS. Analysts anticipate that Science Applications International Co. will post 8.27 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.48 annualized dividend and a dividend yield of 1.40%. Science Applications International's dividend payout ratio (DPR) is currently 20.76%.

Insider Buying and Selling at Science Applications International

In other Science Applications International news, Director John K. Tien, Jr. purchased 215 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were purchased at an average cost of $116.50 per share, for a total transaction of $25,047.50. Following the completion of the purchase, the director now directly owns 919 shares in the company, valued at $107,063.50. This represents a 30.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carolyn B. Handlon purchased 230 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was acquired at an average price of $109.93 per share, for a total transaction of $25,283.90. Following the completion of the purchase, the director now owns 4,032 shares of the company's stock, valued at approximately $443,237.76. This represents a 6.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 3,260 shares of company stock worth $365,037. 0.44% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SAIC shares. Barclays cut their price target on Science Applications International from $115.00 to $105.00 and set an "equal weight" rating on the stock in a report on Monday, June 9th. Wells Fargo & Company upped their price target on Science Applications International from $132.00 to $137.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. UBS Group cut their price target on Science Applications International from $121.00 to $111.00 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. Truist Financial cut their price target on Science Applications International from $115.00 to $100.00 and set a "hold" rating on the stock in a report on Tuesday, June 3rd. Finally, Jefferies Financial Group increased their price objective on Science Applications International from $120.00 to $130.00 and gave the company a "hold" rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $124.20.

Science Applications International Company Profile

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.