Edgestream Partners L.P. Invests $2.48 Million in Science Applications International Co. (NYSE:SAIC)

Edgestream Partners L.P. purchased a new position in shares of Science Applications International Co. (NYSE:SAIC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 22,220 shares of the information technology services provider’s stock, valued at approximately $2,484,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SAIC. Cornerstone Planning Group LLC purchased a new stake in shares of Science Applications International during the 4th quarter worth about $28,000. Quarry LP purchased a new stake in shares of Science Applications International during the 3rd quarter worth about $71,000. Jones Financial Companies Lllp raised its stake in shares of 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 purchasing an additional 156 shares in the last quarter. Covestor Ltd raised its stake in shares of Science Applications International by 45.1% during the 3rd quarter. Covestor Ltd now owns 1,355 shares of the information technology services provider’s stock worth $189,000 after purchasing an additional 421 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in shares of Science Applications International during the 3rd quarter worth about $200,000. 76.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on SAIC. Cantor Fitzgerald raised Science Applications International to a “hold” rating in a research note on Tuesday, February 25th. UBS Group began coverage on Science Applications International in a research note on Monday, December 2nd. They issued a “neutral” rating and a $134.00 price objective on the stock. The Goldman Sachs Group cut their price objective on Science Applications International from $124.00 to $103.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Wells Fargo & Company cut their price objective on Science Applications International from $149.00 to $139.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut their price objective on Science Applications International from $170.00 to $148.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Science Applications International has a consensus rating of “Hold” and an average target price of $136.11.

Science Applications International Stock Performance

Shares of NYSE SAIC opened at $111.25 on Monday. 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 business’s 50 day moving average is $108.03 and its two-hundred day moving average is $123.89. The company has a market cap of $5.44 billion, a P/E ratio of 18.76 and a beta of 0.66. Science Applications International Co. has a 12 month low of $94.68 and a 12 month high of $156.34.

Science Applications International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 10th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Friday, January 10th. Science Applications International’s dividend payout ratio is currently 24.96%.

Insiders Place Their Bets

In other news, Director Katharina G. Mcfarland sold 3,239 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $117.70, for a total transaction of $381,230.30. Following the sale, the director now directly owns 6,864 shares in the company, valued at approximately $807,892.80. The trade was a 32.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Barbara Supplee acquired 425 shares of the stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average price of $116.36 per share, for a total transaction of $49,453.00. Following the completion of the transaction, the executive vice president now owns 3,579 shares of the company’s stock, valued at $416,452.44. This trade represents a 13.47 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company’s stock.

About Science Applications International

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.