Dark Forest Capital Management LP Makes New $869,000 Investment in Science Applications International Co. (NYSE:SAIC)

Dark Forest Capital Management LP acquired a new stake in Science Applications International Co. (NYSE:SAIC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,777 shares of the information technology services provider's stock, valued at approximately $869,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cornerstone Planning Group LLC purchased a new stake in Science Applications International during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp grew 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 acquiring an additional 156 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Science Applications International by 33.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the information technology services provider's stock worth $75,000 after purchasing an additional 167 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Science Applications International during the fourth quarter worth about $77,000. Finally, Tidal Investments LLC acquired a new position in Science Applications International in the third quarter worth about $200,000. 76.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Milford W. Mcguirt bought 500 shares of Science Applications International stock in a transaction dated Thursday, March 27th. The stock was acquired at an average cost of $110.58 per share, with a total value 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 trade represents a 7.89 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn B. Handlon purchased 230 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average cost of $109.93 per share, for a total transaction of $25,283.90. Following the purchase, the director now directly owns 4,032 shares in the company, valued at $443,237.76. This represents a 6.05 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 3,260 shares of company stock worth $365,037. 0.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on SAIC. UBS Group increased their target price on Science Applications International from $123.00 to $126.00 and gave the stock a "neutral" rating in a report on Tuesday, March 18th. Cantor Fitzgerald upgraded shares of Science Applications International to a "hold" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price objective 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. Truist Financial dropped their price target on Science Applications International from $135.00 to $115.00 and set a "hold" rating on the stock in a research report on Tuesday, March 18th. Finally, Wells Fargo & Company lowered their price objective on 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. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $131.33.

Science Applications International Price Performance

Science Applications International stock traded down $0.42 during trading hours on Monday, hitting $120.88. 344,278 shares of the company traded hands, compared to its average volume of 491,223. The firm's 50-day simple moving average is $109.62 and its two-hundred day simple moving average is $118.01. The firm has a market cap of $5.77 billion, a P/E ratio of 20.38 and a beta of 0.58. Science Applications International Co. has a 1-year low of $94.68 and a 1-year high of $156.34. 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 (NYSE:SAIC - Get Free Report) last announced its 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 firm had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.81 billion. Science Applications International had a return on equity of 24.18% and a net margin of 4.11%. The firm'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 earnings per share. As a group, analysts forecast 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 announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Friday, April 11th. Science Applications International's payout ratio is currently 20.58%.

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.