Citigroup Increases Science Applications International (NYSE:SAIC) Price Target to $176.00

Science Applications International (NYSE:SAIC) had its target price upped by research analysts at Citigroup from $160.00 to $176.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. Citigroup’s price target would indicate a potential upside of 21.80% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Barclays increased their target price on Science Applications International from $135.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. StockNews.com upgraded Science Applications International from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. TD Cowen increased their target price on Science Applications International from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. upgraded Science Applications International from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $150.00 to $170.00 in a research report on Wednesday, October 2nd. Finally, Truist Financial increased their price objective on Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $150.43.

Science Applications International Price Performance

Shares of NYSE SAIC opened at $144.50 on Thursday. The stock has a fifty day simple moving average of $132.12 and a two-hundred day simple moving average of $127.44. Science Applications International has a 1-year low of $105.97 and a 1-year high of $145.97. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 25.96 and a beta of 0.70. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21.

Science Applications International (NYSE:SAIC) last announced its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.19. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. Science Applications International’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.05 earnings per share. Analysts anticipate that Science Applications International will post 8.2 earnings per share for the current year.

Institutional Investors Weigh In On Science Applications International

A number of large investors have recently added to or reduced their stakes in SAIC. Wellington Management Group LLP raised its position in Science Applications International by 5.0% during the fourth quarter. Wellington Management Group LLP now owns 4,062,059 shares of the information technology services provider’s stock valued at $504,995,000 after purchasing an additional 194,160 shares in the last quarter. Van ECK Associates Corp raised its position in Science Applications International by 122.7% during the second quarter. Van ECK Associates Corp now owns 205,599 shares of the information technology services provider’s stock valued at $24,168,000 after purchasing an additional 113,260 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in Science Applications International during the first quarter valued at about $11,044,000. Dimensional Fund Advisors LP raised its position in Science Applications International by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,108,748 shares of the information technology services provider’s stock valued at $130,333,000 after purchasing an additional 56,414 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of 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. Hedge funds and other institutional investors own 76.00% 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.