StockNews.com Upgrades Science Applications International (NYSE:SAIC) to Buy

StockNews.com upgraded shares of Science Applications International (NYSE:SAIC) from a hold rating to a buy rating in a report published on Wednesday.

A number of other research analysts have also weighed in on SAIC. Wells Fargo & Company raised their target price on Science Applications International from $141.00 to $143.00 and gave the company an equal weight rating in a report on Tuesday, March 19th. The Goldman Sachs Group cut their price objective on shares of Science Applications International from $113.00 to $110.00 and set a sell rating on the stock in a report on Thursday, February 29th. JPMorgan Chase & Co. lowered their target price on shares of Science Applications International from $142.00 to $140.00 and set a neutral rating for the company in a report on Tuesday, March 19th. Finally, Truist Financial restated a hold rating and set a $130.00 price target on shares of Science Applications International in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $127.60.

Science Applications International Trading Up 1.4 %

NYSE SAIC opened at $124.94 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 1.13. Science Applications International has a 52 week low of $95.43 and a 52 week high of $145.17. The business has a 50 day moving average price of $133.09 and a 200-day moving average price of $124.72. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 14.12 and a beta of 0.70.

Science Applications International (NYSE:SAIC) last released its quarterly earnings data on Monday, March 18th. The information technology services provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.01). The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.64 billion. Science Applications International had a return on equity of 23.73% and a net margin of 6.41%. The business’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.04 EPS. As a group, equities analysts expect that Science Applications International will post 8.11 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Thursday, April 11th. Science Applications International’s payout ratio is 16.72%.

Insider Transactions at Science Applications International

In other Science Applications International news, Director Katharina G. Mcfarland sold 760 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $125.64, for a total value of $95,486.40. Following the completion of the sale, the director now directly owns 8,653 shares of the company’s stock, valued at $1,087,162.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Science Applications International news, CEO Toni Townes-Whitley purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were bought at an average cost of $125.96 per share, for a total transaction of $377,880.00. Following the purchase, the chief executive officer now owns 46,795 shares of the company’s stock, valued at approximately $5,894,298.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Katharina G. Mcfarland sold 760 shares of Science Applications International stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $125.64, for a total transaction of $95,486.40. Following the completion of the transaction, the director now owns 8,653 shares of the company’s stock, valued at $1,087,162.92. The disclosure for this sale can be found here. 1.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Science Applications International

A number of large investors have recently made changes to their positions in SAIC. BlackDiamond Wealth Management LLC lifted its holdings in Science Applications International by 1.6% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,239 shares of the information technology services provider’s stock worth $668,000 after purchasing an additional 80 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Science Applications International by 2.3% in the second quarter. Commonwealth Equity Services LLC now owns 4,118 shares of the information technology services provider’s stock worth $463,000 after buying an additional 94 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Science Applications International by 0.6% in the third quarter. Thrivent Financial for Lutherans now owns 14,738 shares of the information technology services provider’s stock valued at $1,303,000 after acquiring an additional 94 shares during the period. Parallel Advisors LLC grew its stake in Science Applications International by 62.9% during the fourth quarter. Parallel Advisors LLC now owns 259 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Finally, State of Michigan Retirement System increased its holdings in Science Applications International by 0.8% during the 1st quarter. State of Michigan Retirement System now owns 12,755 shares of the information technology services provider’s stock worth $1,663,000 after acquiring an additional 100 shares during the period. 76.00% of the stock is owned by institutional investors.

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.