Science Applications International (NYSE:SAIC) Rating Increased to Overweight at JPMorgan Chase & Co.

Science Applications International (NYSE:SAIC) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Wednesday, Briefing.com reports. The firm currently has a $170.00 target price on the information technology services provider’s stock, up from their prior target price of $150.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 20.76% from the company’s previous close.

SAIC has been the subject of a number of other reports. StockNews.com raised Science Applications International from a “hold” rating to a “buy” rating in a report on Friday, September 6th. TD Cowen raised their price target on Science Applications International from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Citigroup boosted their price target on shares of Science Applications International from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Truist Financial raised their price objective on shares of Science Applications International from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Finally, Barclays upped their price objective on Science Applications International from $135.00 to $150.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $142.25.

Science Applications International Price Performance

NYSE:SAIC opened at $140.77 on Wednesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. Science Applications International has a 1-year low of $104.46 and a 1-year high of $145.17. The company has a 50 day moving average price of $129.18 and a 200-day moving average price of $126.63. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 16.48 and a beta of 0.70.

Science Applications International (NYSE:SAIC) last posted its quarterly earnings results on Thursday, September 5th. The information technology services provider reported $2.05 EPS for the quarter, beating the consensus estimate of $1.86 by $0.19. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the firm earned $2.05 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts forecast that Science Applications International will post 8.17 EPS for the current year.

Insiders Place Their Bets

In other Science Applications International news, EVP Michelle A. O’hara bought 1,000 shares of the stock in a transaction dated Friday, July 12th. The shares were bought at an average cost of $118.00 per share, with a total value of $118,000.00. Following the completion of the acquisition, the executive vice president now owns 33,497 shares of the company’s stock, valued at $3,952,646. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Michelle A. O’hara purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were bought at an average cost of $118.00 per share, with a total value of $118,000.00. Following the acquisition, the executive vice president now owns 33,497 shares of the company’s stock, valued at approximately $3,952,646. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Joshua Jackson acquired 400 shares of the stock in a transaction dated Wednesday, July 10th. The stock was purchased at an average cost of $114.28 per share, with a total value of $45,712.00. Following the purchase, the executive vice president now directly owns 13,677 shares of the company’s stock, valued at $1,563,007.56. The disclosure for this purchase can be found here. Insiders have bought 1,550 shares of company stock worth $184,319 in the last 90 days. Company insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On Science Applications International

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its holdings in shares of Science Applications International by 5.0% in the fourth quarter. Wellington Management Group LLP now owns 4,062,059 shares of the information technology services provider’s stock worth $504,995,000 after purchasing an additional 194,160 shares during the period. Van ECK Associates Corp grew its stake in Science Applications International by 122.7% in the second quarter. Van ECK Associates Corp now owns 205,599 shares of the information technology services provider’s stock worth $24,168,000 after purchasing an additional 113,260 shares during the period. Global Assets Advisory LLC purchased a new position in Science Applications International during the first quarter valued at $11,044,000. Dimensional Fund Advisors LP boosted its position in shares of Science Applications International by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,108,748 shares of the information technology services provider’s stock worth $130,333,000 after purchasing an additional 56,414 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Science Applications International by 53.9% during the first quarter. Sei Investments Co. now owns 86,541 shares of the information technology services provider’s stock valued at $11,284,000 after buying an additional 30,325 shares during the last quarter. 76.00% of the stock is owned by hedge funds and other 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.