Paralel Advisors LLC Takes $2.68 Million Position in Science Applications International Co. $SAIC

Key Points

• Paralel Advisors LLC has acquired a new stake in Science Applications International Co. valued at approximately $2.68 million, owning 0.05% of the company.
• Several other hedge funds have also increased their stakes, demonstrating heightened institutional interest, with overall hedge fund ownership now at 76% of the company's stock.
• Analysts have adjusted their ratings and price targets for Science Applications International, resulting in an average rating of "Hold" and a target price of $115.10.

Paralel Advisors LLC bought a new stake in Science Applications International Co. (NYSE:SAIC - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 23,796 shares of the information technology services provider's stock, valued at approximately $2,680,000. Paralel Advisors LLC owned 0.05% of Science Applications International as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in Science Applications International by 43.2% during the first quarter. Larson Financial Group LLC now owns 325 shares of the information technology services provider's stock worth $36,000 after buying an additional 98 shares during the period. US Bancorp DE grew its position in shares of Science Applications International by 38.5% during the first quarter. US Bancorp DE now owns 324 shares of the information technology services provider's stock worth $36,000 after acquiring an additional 90 shares during the last quarter. Hughes Financial Services LLC acquired a new position in shares of Science Applications International in the 1st quarter valued at $58,000. Quarry LP increased its holdings in shares of Science Applications International by 97.0% in the 1st quarter. Quarry LP now owns 595 shares of the information technology services provider's stock valued at $67,000 after acquiring an additional 293 shares during the period. Finally, GAMMA Investing LLC raised its position in Science Applications International by 96.8% in the 1st quarter. GAMMA Investing LLC now owns 614 shares of the information technology services provider's stock valued at $69,000 after purchasing an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 76.00% of the company's stock.

Wall Street Analyst Weigh In

SAIC has been the topic of several research reports. The Goldman Sachs Group lowered their price objective on shares of Science Applications International from $104.00 to $91.00 and set a "sell" rating on the stock in a research report on Monday, September 8th. Stifel Nicolaus dropped their price target on Science Applications International from $130.00 to $128.00 and set a "buy" rating on the stock in a research report on Friday, September 5th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $115.00 price objective (down from $140.00) on shares of Science Applications International in a research note on Monday, September 8th. UBS Group lowered their target price on Science Applications International from $111.00 to $110.00 and set a "neutral" rating on the stock in a research note on Friday, September 5th. Finally, Jefferies Financial Group cut their price target on Science Applications International from $130.00 to $115.00 and set a "hold" rating for the company in a research note on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $115.10.

Science Applications International Trading Down 2.3%

NYSE:SAIC opened at $98.11 on Thursday. Science Applications International Co. has a 1 year low of $94.68 and a 1 year high of $156.34. 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 stock has a fifty day moving average price of $105.92 and a two-hundred day moving average price of $111.33. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 16.54 and a beta of 0.44.

Science Applications International (NYSE:SAIC - Get Free Report) last issued its earnings results on Thursday, September 4th. The information technology services provider reported $3.63 EPS for the quarter, topping the consensus estimate of $2.25 by $1.38. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.87 billion. Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The business's revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 EPS. Science Applications International has set its FY 2026 guidance at 9.400-9.600 EPS. As a group, sell-side 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, October 24th. Shareholders of record on Friday, October 10th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.48 dividend on an annualized basis and a yield of 1.5%. Science Applications International's dividend payout ratio (DPR) is 17.92%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.