Arrowstreet Capital Limited Partnership Increases Stock Position in Science Applications International Co. (NYSE:SAIC)

Arrowstreet Capital Limited Partnership increased its position in shares of Science Applications International Co. (NYSE:SAIC) by 33.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 258,541 shares of the information technology services provider’s stock after buying an additional 65,117 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.53% of Science Applications International worth $28,900,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Science Applications International during the fourth quarter worth about $63,572,000. Victory Capital Management Inc. grew its stake in Science Applications International by 851.8% during the 4th quarter. Victory Capital Management Inc. now owns 148,588 shares of the information technology services provider’s stock valued at $16,609,000 after purchasing an additional 132,976 shares in the last quarter. Prudential Financial Inc. increased its holdings in Science Applications International by 285.5% during the 4th quarter. Prudential Financial Inc. now owns 138,987 shares of the information technology services provider’s stock worth $17,012,000 after purchasing an additional 102,933 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Science Applications International in the 4th quarter valued at approximately $10,038,000. Finally, Van ECK Associates Corp boosted its stake in shares of Science Applications International by 30.4% during the 4th quarter. Van ECK Associates Corp now owns 326,793 shares of the information technology services provider’s stock valued at $36,529,000 after buying an additional 76,204 shares during the last quarter. Institutional investors and hedge funds own 76.00% of the company’s stock.

Science Applications International Trading Up 2.1 %

Shares of NYSE SAIC opened at $115.70 on Thursday. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 19.51 and a beta of 0.66. The stock’s 50 day simple moving average is $106.08 and its 200 day simple moving average is $121.20. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20. Science Applications International Co. has a 12-month low of $94.68 and a 12-month high of $156.34.

Science Applications International (NYSE:SAIC) last announced its quarterly earnings results on Monday, March 17th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.57. Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts expect that Science Applications International Co. will post 8.27 EPS for the current year.

Science Applications International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, April 11th. Science Applications International’s dividend payout ratio is currently 20.58%.

Analyst Ratings Changes

SAIC has been the subject of a number of research analyst reports. TD Cowen lowered shares of Science Applications International from a “buy” rating to a “hold” rating and dropped their price target for the stock from $155.00 to $120.00 in a research note on Wednesday, January 8th. The Goldman Sachs Group dropped their target price on shares of Science Applications International from $124.00 to $103.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. UBS Group increased their price target on shares of Science Applications International from $123.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 18th. StockNews.com raised Science Applications International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Finally, Truist Financial decreased their target price on Science Applications International from $135.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $134.00.

Insiders Place Their Bets

In other Science Applications International news, Director John K. Tien, Jr. acquired 215 shares of Science Applications International stock in a transaction dated Wednesday, April 2nd. The stock was bought at an average price of $116.50 per share, for a total transaction of $25,047.50. Following the transaction, the director now owns 919 shares in the company, valued at approximately $107,063.50. This trade represents a 30.54 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Milford W. Mcguirt bought 500 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average price of $110.58 per share, for a total transaction of $55,290.00. Following the completion of the acquisition, the director now directly owns 6,841 shares in the company, valued at approximately $756,477.78. This represents a 7.89 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 2,815 shares of company stock worth $314,652 over the last ninety days. Company insiders own 0.67% of the company’s stock.

Science Applications International 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.