KLP Kapitalforvaltning AS Makes New Investment in Science Applications International Co. (NYSE:SAIC)

KLP Kapitalforvaltning AS acquired a new stake in shares of Science Applications International Co. (NYSE:SAIC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,650 shares of the information technology services provider’s stock, valued at approximately $1,414,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in shares of Science Applications International by 851.8% during the fourth quarter. Victory Capital Management Inc. now owns 148,588 shares of the information technology services provider’s stock valued at $16,609,000 after buying an additional 132,976 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Science Applications International during the 4th quarter worth about $10,038,000. Van ECK Associates Corp grew its stake in 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 acquiring an additional 76,204 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Science Applications International in the 4th quarter valued at about $4,494,000. Finally, ING Groep NV purchased a new stake in shares of Science Applications International in the fourth quarter worth approximately $3,912,000. 76.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Katharina G. Mcfarland sold 3,239 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $117.70, for a total value of $381,230.30. Following the sale, the director now owns 6,864 shares in the company, valued at approximately $807,892.80. This trade represents a 32.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Milford W. Mcguirt bought 500 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average price of $110.58 per share, with a total value of $55,290.00. Following the completion of the purchase, the director now owns 6,841 shares in the company, valued at approximately $756,477.78. The trade was a 7.89 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on SAIC. JPMorgan Chase & Co. lowered their price objective on shares of Science Applications International from $170.00 to $148.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on shares of Science Applications International from $139.00 to $148.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. Truist Financial cut their price objective on Science Applications International from $135.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. The Goldman Sachs Group lowered their target price 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. Finally, StockNews.com raised Science Applications International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Science Applications International has an average rating of “Hold” and an average price target of $134.00.

Science Applications International Stock Performance

Shares of NYSE SAIC opened at $112.53 on Friday. The business’s 50-day simple moving average is $106.36 and its 200-day simple moving average is $121.65. Science Applications International Co. has a 52 week low of $94.68 and a 52 week high of $156.34. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 18.98 and a beta of 0.66.

Science Applications International (NYSE:SAIC) last released its quarterly earnings results on Monday, March 17th. The information technology services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.57. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.43 earnings per share. As a group, equities research analysts expect 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 will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, April 11th. Science Applications International’s dividend payout ratio (DPR) is 20.58%.

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.