Millennium Management LLC Purchases 50,548 Shares of Science Applications International Co. (NYSE:SAIC)

Millennium Management LLC increased its position in Science Applications International Co. (NYSE:SAIC) by 145.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,224 shares of the information technology services provider’s stock after acquiring an additional 50,548 shares during the period. Millennium Management LLC owned about 0.17% of Science Applications International worth $9,526,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Science Applications International during the 4th quarter valued at about $63,572,000. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Science Applications International by 27.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,186,547 shares of the information technology services provider’s stock worth $244,412,000 after buying an additional 464,989 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Science Applications International in the fourth quarter worth approximately $34,909,000. AQR Capital Management LLC grew its position in Science Applications International by 68.4% during the fourth quarter. AQR Capital Management LLC now owns 443,246 shares of the information technology services provider’s stock valued at $49,413,000 after buying an additional 179,963 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Science Applications International during the fourth quarter valued at approximately $18,694,000. Institutional investors own 76.00% of the company’s stock.

Analyst Ratings Changes

SAIC has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Science Applications International from $148.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Cantor Fitzgerald upgraded Science Applications International to a “hold” rating in a research report on Tuesday, February 25th. 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 research report on Tuesday, April 8th. Truist Financial decreased their price objective on Science Applications International from $135.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Finally, UBS Group lifted their price objective on Science Applications International from $123.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Science Applications International currently has an average rating of “Hold” and an average target price of $131.20.

Science Applications International Trading Down 4.2%

Science Applications International stock opened at $117.28 on Monday. Science Applications International Co. has a 1 year low of $94.68 and a 1 year high of $156.34. The firm’s 50 day moving average price is $116.45 and its 200-day moving average price is $114.44. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $5.60 billion, a P/E ratio of 19.78 and a beta of 0.55.

Science Applications International (NYSE:SAIC) last announced its quarterly earnings results 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. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.43 EPS. On average, equities analysts predict that Science Applications International Co. will post 8.27 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Friday, April 11th. Science Applications International’s dividend payout ratio is presently 20.58%.

Insiders Place Their Bets

In related news, Director Garth Graham purchased 215 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were bought at an average price of $116.75 per share, for a total transaction of $25,101.25. Following the acquisition, the director now owns 7,159 shares of the company’s stock, valued at approximately $835,813.25. This represents a 3.10% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Toni Townes-Whitley purchased 2,000 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was bought at an average price of $111.67 per share, with a total value of $223,340.00. Following the completion of the transaction, the chief executive officer now owns 45,183 shares of the company’s stock, valued at $5,045,585.61. The trade was a 4.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 3,260 shares of company stock valued at $365,037 in the last quarter. 0.44% of the stock is currently owned by insiders.

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.