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

StockNews.com downgraded shares of Science Applications International (NYSE:SAIC) from a strong-buy rating to a buy rating in a report published on Tuesday.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. upgraded shares of Science Applications International from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $150.00 to $170.00 in a report on Wednesday, October 2nd. Truist Financial increased their price objective on Science Applications International from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Wells Fargo & Company lifted their target price on Science Applications International from $122.00 to $157.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Citigroup lifted their price target on Science Applications International from $160.00 to $176.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, TD Cowen raised their target price on shares of Science Applications International from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $150.43.

Science Applications International Price Performance

NYSE SAIC opened at $145.56 on Tuesday. Science Applications International has a 12 month low of $105.97 and a 12 month high of $148.65. The firm has a market capitalization of $7.21 billion, a PE ratio of 26.18 and a beta of 0.70. The company’s 50 day simple moving average is $136.12 and its 200 day simple moving average is $128.38. 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 (NYSE:SAIC) last posted its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.19. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 EPS. As a group, equities research analysts forecast that Science Applications International will post 8.2 EPS for the current fiscal year.

Science Applications International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, October 11th. This represents a $1.48 annualized dividend and a yield of 1.02%. Science Applications International’s dividend payout ratio (DPR) is presently 26.62%.

Institutional Trading of Science Applications International

A number of hedge funds have recently made changes to their positions in the stock. Oliver Luxxe Assets LLC boosted its position in Science Applications International by 1.3% during the first quarter. Oliver Luxxe Assets LLC now owns 9,102 shares of the information technology services provider’s stock valued at $1,187,000 after purchasing an additional 119 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Science Applications International by 192.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,835 shares of the information technology services provider’s stock valued at $3,369,000 after buying an additional 17,010 shares during the last quarter. State of Michigan Retirement System increased its holdings in Science Applications International by 0.8% in the first quarter. State of Michigan Retirement System now owns 12,755 shares of the information technology services provider’s stock worth $1,663,000 after buying an additional 100 shares during the last quarter. Financial Security Advisor Inc. bought a new position in Science Applications International during the first quarter valued at approximately $205,000. Finally, Principal Financial Group Inc. lifted its stake in Science Applications International by 0.9% in the first quarter. Principal Financial Group Inc. now owns 196,064 shares of the information technology services provider’s stock valued at $25,565,000 after acquiring an additional 1,715 shares during the last quarter. 76.00% of the stock is owned by hedge funds and other institutional investors.

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.