Man Group plc Buys 69,573 Shares of Science Applications International Co. (NYSE:SAIC)

Man Group plc grew its stake in Science Applications International Co. (NYSE:SAIC) by 265.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 95,817 shares of the information technology services provider’s stock after purchasing an additional 69,573 shares during the quarter. Man Group plc’s holdings in Science Applications International were worth $10,710,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SAIC. Brookstone Capital Management grew its holdings in shares of Science Applications International by 7.0% in the 4th quarter. Brookstone Capital Management now owns 2,430 shares of the information technology services provider’s stock valued at $272,000 after acquiring an additional 160 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Science Applications International in the 4th quarter valued at about $244,000. HB Wealth Management LLC lifted its stake in Science Applications International by 4.0% in the 4th quarter. HB Wealth Management LLC now owns 17,509 shares of the information technology services provider’s stock valued at $1,957,000 after purchasing an additional 679 shares during the last quarter. Pure Financial Advisors LLC lifted its stake in Science Applications International by 19.0% in the 4th quarter. Pure Financial Advisors LLC now owns 18,447 shares of the information technology services provider’s stock valued at $2,062,000 after purchasing an additional 2,946 shares during the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new stake in Science Applications International in the 4th quarter valued at about $312,000. Institutional investors own 76.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SAIC shares. Cantor Fitzgerald upgraded shares of Science Applications International to a “hold” rating in a research note on Tuesday, February 25th. Wells Fargo & Company cut their target price on shares of Science Applications International from $148.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Truist Financial cut their target price on shares of Science Applications International from $135.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. JPMorgan Chase & Co. cut their target price on shares of Science Applications International from $148.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Finally, UBS Group raised their target price on shares of Science Applications International from $123.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $131.20.

Science Applications International Trading Up 1.2%

Shares of SAIC stock opened at $123.41 on Monday. The firm has a 50 day moving average price of $115.07 and a two-hundred day moving average price of $115.35. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $5.89 billion, a PE ratio of 20.81 and a beta of 0.55. 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 issued its quarterly earnings data on Monday, March 17th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping 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 firm 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 business posted $1.43 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, analysts predict that Science Applications International Co. will post 8.27 earnings per share for the current year.

Science Applications International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.20%. Science Applications International’s payout ratio is 20.58%.

Insider Activity

In other Science Applications International news, CEO Toni Townes-Whitley purchased 2,000 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was bought at an average cost of $111.67 per share, for a total transaction of $223,340.00. Following the completion of the transaction, the chief executive officer now owns 45,183 shares in the company, valued at approximately $5,045,585.61. This represents a 4.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Milford W. Mcguirt purchased 500 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was acquired at an average price of $110.58 per share, with a total value of $55,290.00. Following the completion of the transaction, the director now owns 6,841 shares of the company’s stock, valued at $756,477.78. This represents a 7.89% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 3,260 shares of company stock worth $365,037. Corporate insiders own 0.44% 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.